From Forbes, Brian Domitrovic highlights Herman Cain’s
sound money advocacy. On TGSN, Lew Lehrman advocates a modern gold standard. In The WSJ, Austan Goolsbee argues without flexible exchange
rates to adjust balance of payments, the Eurozone must rely on fiscal transfers
or immigration. At The Daily Beast, Bruce Bartlett applauds President
Reagan’s tax and monetary achievements but argues today’s problems require
different remedies:
In The WSJ, Stephen Moore reports Ted Cruz’s run-off
chances in the Senate GOP primary.
From Alhambra Partners, Joe Calhoun highlights worrisome
market conditions. In The Washington Post, Robert Samuelson wonders why
Greece hasn’t experienced a bank run yet. At National Review, Kevin Williamson doubts that tax
rates drives state to state migration.
At NRO, Larry Kudlow reports Mitt Romney will propose a bolder tax cut plan.
On The Kudlow Report, Glenn Hubbard discusses the Romney tax plan, including “cutting the corporate tax to 25%; eliminating the added tax burden on firms to bring overseas profits home; eliminating the corporate AMT and making the R&D credit permanent. On the individual side, a 20% cut across the board in marginal tax rates; eliminate the alternative minimum tax as well.”
At NRO, Doug Holtz-Eakin finds problems with the President’s proposal to cut the corporate tax rates.
From Forbes, Brian Domitrovic notes the rosy economic growth assumptions underlying the President’s budget.
The WSJcritiques the President’s plan to triple the tax on dividends.
In The WSJ, Benn Steil notes the Fed’s poor record of forecasting inflation.
From Alhambra Partners, Joe Calhoun worries inflation will undermine the recovery.
At First Trust, Brian Wesbury suggests stocks are still cheap.
From Newt.org, Newt Gingrich provides an interesting analysis of the US energy potential, but omits the dollar from his analysis:
On NRO, Reihan Salam examines declining labor force participation.
At The NY Sun, Ira Stoll reviews Allan Meltzer’s new book defending capitalism.
In The WSJ, Austan Goolsbee notes some of America’s uncounted trade surplus items.
From The Laffer Center, the excellent Brian Domitrovic argues the Federal Reserve pursues a third policy mandate (beyond price stability and low unemployment), of accommodating the federal debt.
On Forbes, Domitrovic advises the President to pursue tax reform.
In The Washington Times, Richard Rahn challenges tax hike advocates.
On The Kudlow Report, David Goldman says the US economy is in good shape and northern Europe will fence off southern Europe to prevent financial contagion:
At Café Hayek, Don Boudreaux responds to Romney advisor Glenn Hubbard’s statement that, “Nobody who is taken seriously as an economist is going to say ‘cancel the Fed.’”
From Human Events, Burton Folsom, Jr sees parallels between today’s China currency pressure and Smoot-Hawley.
In The WSJ, Obama economist Austan Goolsbee argues the euro has damaged southern Europe:
Northern Europe has fueled its growth through exports. It has run huge trade imbalances, the most extreme of which with these same Southern European countries now in peril. Productivity rose dramatically compared to the South, but the currency did not. This explains at least part of the German export and manufacturing miracle of the last 12 years. In 1999, exports were 29% of German gross domestic product. By 2008, they were 47%—an increase vastly larger than in Italy, Spain and Greece, where the ratios increased modestly or even fell.
Germany's net export contribution to GDP (exports minus imports as a share of the economy) rose by nearly a factor of eight. Unlike almost every other high-income country, where manufacturing's share of the economy fell significantly, in Germany it actually rose as the price of German goods grew more and more attractive compared to those of other countries. In a key sense, Germany's currency has been to Southern Europe what China's has been to the U.S.
From Alhambra Investments, Joe Calhoun analyzes the European debt crisis.
At RCM, John Tamny suggests California will make a comeback when the dollar is stronger.
On Kudlow, David Malpass advocates for pro-growth policies in Europe:
On NRO, John Berlau reports Republican support for Sarbanes Oxley.
The Economistnotes the Congo’s currency rising against the dollar.
Thanks to Alan Reynolds for recommending a 1986 compendium from the Adam Smith Institute (UK), It Pays to Cut Taxes. I've added it to the Classic Articles section. ----------
At Forbes, Charles Kadlec explains that economists increasingly accept that tax rate cuts and lower spending are essential to economic growth.
On The Next Right, D.R. Tucker advises supply-siders to better document the benefits of their ideas to average Americans. (Hat tip: Frum Forum.)
At NRO, Larry Kudlow wonders if President Obama is moving towards supply-side economics:
And now it’s fascinating to watch the money-politics dynamic continue. On a recent Sunday talk show, top Obama economic advisor Austan Goolsbee sounded like a Reagan disciple. “You’ve got direct incentives for companies to invest in the country,” he said. And he went on to describe a new Obama economic model that sounds suspiciously supply-side: “The focus has got to be on investment, on exports, and on innovation. . . . The president is firmly in that — planted in that camp — and we are going to grow our way out of this.” (Hat tip to economist Don Luskin.)
On The Kudlow Report, Stephen Moore expresses skepticism about the President’s change of heart:
At Forbes, John Tamny responds to Scott Sumner’s charge of anti-intellectualism.
The WSJeditorializes that Canada is prospering thanks to corporate tax rate reductions:
Relative levels of taxation matter because companies and investors send capital where it can achieve the highest returns. Yes, U.S. companies often pay a lower effective tax rate thanks to loopholes, but the variability leads to economic inefficiency and investment distortions. Low marginal rates have helped the likes of Hong Kong (16.5%), Singapore (17%) and Ireland (12.5%) attract capital, while the high U.S. rate keeps hundreds of billions of dollars from coming to America from offshore.
Also on Forbes, Amity Shlaes praises the use of new technology to communicate sound economics.
