From Forbes, Steve Forbes wonders if the US can save Europe and Japan.
On Bloomberg, Amity Shlaes defends supply-side calls for fiscal austerity. The Washington Postreports the dollar’s rise against the euro. On The Kudlow Report, David Goldman discusses the rising dollar and the possibility of deflation:
From NRO, Larry Kudlow advocates extending the Bush tax rates. On Calafia Beach Pundit, Scott Grannis links Fed policy to economic growth. At IBD, Greg Hayes suggests the US would be more competitive with a territorial tax system. The WSJ’s Notable & Quotable quotes actor Will Smith discussing tax rates on French TV:
Smith: I have no issue with paying taxes and whatever needs to be done for my country to grow. I believe very firmly that my ability to sit here—I'm a black man who didn't go to college, yet I get to travel around the world and sell my movies, and I believe very firmly that America is the only place on Earth that I could exist. So I will pay anything that I need to pay to keep my country growing. . . .
Interviewer: Do you know how much in France you would have to pay on earnings above one million euros [under new French President Francois Hollande's proposal]? Not 30%. 75%.
Smith: 75?! Yeah, that's different, that's different. Yeah, 75. Well, you know, God bless America.
In The WSJ, Allan Meltzer argues financial firms must be free to take risks, not regulated more.
From Bloomberg, Amity Shlaes defends the gold standard against critics.
In The FT (free registration required), US Rep. Ron Paul (TX) lambasts central bankers.
At Forbes, Louis Woodhill highlights declining business investment.
On The Kudlow Report, David Malpass analyzes Mitt Romney’s focus on issues other than growth:
On his show, Rush Limbaugh tutors a college student on supply-side economics.
At Forbes, Steve Forbes reviewsFreedom’s Forge: How American Business Produced Victory in World War II.
Market Watch reports China’s intention to accelerate yuan reform. In Commentary, Abe Greenwald notes the violent plans of some members of the Occupy crowd. On Kudlow, a newly bearish David Goldman discusses declining business investment and predicts lower job growth:
From Alhambra Partners, John Chapman analyzes the debate over Glenn Hubbard’s recent deficit and debt analysis. In The WSJ, Stephen Moore analyzes the Republican chances of losing the House. Undiscussed is the House GOP’s focus on budget balancing rather than strong growth measures.
The WSJhighlights the positive revenue effects of cutting the capital gains tax.
In The WSJ, Amity Shlaes cites FDR and Coolidge to argue tax policy should focus on competition not fairness.
On The Kudlow Report, Larry opposes raising tax rates:
On RCM, financier Eric Fine argues Ben Bernanke reduces confidence in the dollar by dismissing the gold standard. From Alhambra Partners, Joseph Calhoun fears economic weakness will spur QE3. In The Washington Times, Richard Rahn complains about the byzantine tax code. From ISI, George Gilder debates technology and the prospects for growth:
In The NYT, Bruce Bartlett suggests eliminating income taxes for the lower 75% of earners and replacing the revenue with a 12.5% VAT.
The WSJdefends US Rep. Paul Ryan’s (WI) budget plan from the President’s strong attack.
On PBS, Dan Mitchell debates Ryan’s budget but focuses on spending restraint rather than economic growth:
At TGSN, Ralph Benko highlights the sound money writing of Romney advisor Glenn Hubbard. On GoldSeek, Scott Silva contrasts President Reagan’s economic record with President Obama’s. In The Boston Globe, Jeff Jacoby criticizes the US tax code. The Economist reports on Somalia’s bizarre currency situation. In The Star-Ledger (NJ), Alan Reynolds suggests the federal minimum wage has damaged low skill workers. From Bloomberg, Steve Forbes discusses the weak dollar’s impact on the economy:
The Chicago Tribunereports failure to pass Mississippi’s tough immigration reform.
American Rhetoric presents Calvin Coolidge’s inaugural speech (h/t: Amity Shlaes).
From First Trust, Brian Wesbury rebuts market bears.
On Forbes, Louis Woodhill assesses the economic plan of Senate candidate and “Great Conservative Hope” Ted Cruz (TX). From Atlas Foundation, Judy Shelton discusses sound money, Bretton Woods, her idea for Treasury Trust Bonds, and Robert Mundell's euro:
In The WSJ, Joseph Sternberg predicts rare-earth elements will be cheap and plentiful in future. From Bloomberg, Amity Shlaes doubts the Fed’s idea of controlled, modest inflation.
TGSN features CPAC video of John Mueller, Jeffrey Bell and James Grant discussing the gold standard:
On NPR, supply-sider Jeff Bell highlights the importance of social issues to key segments of the electorate.
From Forbes, Ralph Benko revisits the sage wisdom of Arab historian Ibn Khaldun.
In The WSJ, Andy Laperriere highlights the negative effects of the Fed’s quantitative easing and zero interest rate policy. At The American, James Pethokoukis reports a study that rebuts claims that inequality caused the financial crisis, instead linking the mortgage crisis to central bank error. On The Kudlow Report, Mitt Romney discusses the economy and his tax cut plan:
From Bloomberg, Amity Shlaes argues Milton Friedman would disapprove of Ben Bernanke’s policies. In Forbes, Louis Woodhill recommends Kansas reform its tax code. At The American, James Pethokoukis suggests all tax rates may rise if the President is reelected. On Kudlow, Steve Forbes sounds positive about Romney:
In Forbes, John Tamny highlights economics lessons from the film Undefeated.
From last month in The Washington Post, Dylan Matthews explains Modern Monetary Theory.
On International Liberty, Dan Mitchell notes Romney’s Keynesian view of spending cuts. National Review’s editors give two cheers to Romney’s tax reform but fault it for not expanding the child tax credit. The WSJpans the President’s corporate tax rate cut. At Newsmax, Steve Forbes calls the President’s corporate tax reform a “house of horrors.” On The Kudlow Report, Steve Forbes and James Pethokoukis discuss Rick Santorum’s debate performance:
From Forbes, Louis Woodhill explains that gas prices are not rising, the dollar is falling. Bloomberg quotes Robert Mundell on the negative trade impact of Canada’s strong dollar.
At Free Banking, George Selgin rebuts James Hamilton’s claim that the gold standard caused the 19th century’s frequent financial panics. (h/t: TGSN) At NRO, Larry Kudlow notes the President’s embrace of Republican energy policy. From RCM, John Tamny examines long-term deficit spending. At Bloomberg, Amity Shlaes argues income tax rate cuts are superior to payroll tax rebates. On CNBC, David Goldman analyzes oil’s price increase:
The Washington Postquotes Steve Forbes saying Rick Santorum should stop talking about Satan. Citywire (UK) notes rising belief that central bankers are to blame for the 2008 financial crisis. The Telegraph (UK) reports discovery, by a former student of Steve Hanke’s, of the Bretton Woods conference’s transcript. At TGSN, Ralph Benko recounts the Constitution’s sound money roots. In The Washington Times, Sen. John Kerry (MA) praises classical thinker Robert Zoellick’s World Bank leadership.
From Reason, a Thatcher contemporary remembers her tremendous accomplishments:
At US News, conservative Scott Galupo pans Romney’s embrace of supply-side economics. On The Daily Show, Bruce Bartlett attacks Republicans for advocating tax cuts.
NRO’s editors critique Mitt Romney’s support for minimum wage increases.
The WSJanalyzes Rick Santorum’s surge and Romney’s policy vulnerability.
At NRO, Thomas Sowell notes continued conservative opposition to Romney.
In The WSJ, Karl Rove argues Newt Gingrich’s southern strategy is insufficient.
On The WSJ, Larry Sabato discusses Romney’s problems with the right, and general election prospects:
At Forbes, Louis Woodhill highlights wasteful alternative energy spending. On Forbes, Cato’s James Dorn advocates a sound money policy rather than stimulus. In The WSJ, Eswar Prasad suggests yuan convertibility is key to its future.
From Bloomberg, Amity Shlaes rebuts Clint Eastwood’s Super Bowl ad. On The Kudlow Report, a panel discusses the CPAC conference:
At Killer Frogs, Kyle Clifton highlights a Jude Wanniski memo to US Rep. Ron Paul (TX). From Human Events, House Speaker John Boehner (OH) outlines his growth agenda, including energy exploration, roads and bridges projects, no earmarks, and reduced federal mandates.
In The WSJ, Karl Rove urges Mitt Romney to focus more on big ideas.
At The American Conservative, Rod Dreher suggests Romney, Gingrich and Santorum are substantially similar to President George W. Bush, but omits dollar policy from his analysis. On NRO, Larry Kudlow scorns the President’s focus on redistribution rather than wealth. At International Liberty, Dan Mitchell compares the Reagan and Obama recoveries. On The Kudlow Report, David Malpass sounds optimistic about the market:
MarketWatch profiles gold advocate James Grant. In The WSJ, former Sen. Phil Gramm (TX) and Mike Solon compare the current recovery to the past. From Bloomberg, Amity Shlaes argues lower tax rates can raise revenues. AP features comedian Chris Rock arguing for higher taxes.
At Forbes, Louis Woodhill satirizes the President’s SOTU proposals. The Economistreviews Bruce Bartlett’s new tax reform book.
In Forbes, Rich Danker reviews Lew Lehrman’s gold standard transition plan.
On NRO, Larry Kudlow analyzes the European debt deal.
The WSJworries about the World Bank’s new “Doing Business” report:
In 2007, the U.S. ranked third in the "ease of starting a business" category. This year it ranks 13th. On the "paying taxes" front we've dropped to 72nd place from 63rd. The cost of starting a business, measured as a percentage of per capita income, has doubled to 1.4% from 0.7% in 2007. On "ease of registering property" the U.S. has dropped to 16th from tenth. In the "trading across borders" category, we've dropped nine spots to 20th. In 2007, the "cost to import," as measured in dollars per container, was $625. Today it's more than doubled to $1,315.
PBS features Richard Epstein discussing inequality, tax rates, and transfer payments (h/t: Randy Barnett):
From Bloomberg, Amity Shlaes argues a capital gains tax cut would spur jobs.
Steve Forbes suggests Occupy Wall Street focus its anger on the Fed.
From MarketWatch, Lew Lehrman argues the dollar-as-reserve-currency is killing the US economy.
At Forbes, Brian Domitrovic explains why the Fed’s new Operation Twist caused gold to plummet and why pro-growth fiscal policy is essential to reversing decline.
In The Washington Times, Richard Rahn rebuts the President’s tax proposal.
On Fox Business News, Art Laffer critiques the President’s call for tax fairness:
In The WSJ, John Steele Gordon recounts the income tax’s history and argues for tax reform.
The NYTcaptures the state of American unemployment.
From Cato, Dan Mitchell illustrates the perverse impact of double taxation.
On his blog, Mitt Romney advisor Greg Mankiw notes low hourly wages as proof inflation is not a threat:
At Bloomberg, Amity Shlaes contrasts Warren Buffett’s tax views with Andrew Mellon’s.
From Americans for Tax Reform, Ryan Ellis argues the corporate tax rate should be lowered to 20% rather than 25%.
So while the falling dollar since 2001 and the certain cruelty the latter foists on the vast majority of Americans (Ryan, quite unlike Reagan, made no mention of the dollar in his Wall Street Journal piece promoting the plan) remains the unsung factor when it comes to an unhappy electorate, high levels of spending loom large, and a return to 2008 levels reveals a Republican leadership still well out of touch with the an increasingly skeptical base.
But if we move away from spending for now, it should be noted that seemingly like all other Republicans who've made promises of fiscal prudence ahead of large advances in government, Ryan is committing the fatal error of bringing deficit reduction talk into a discussion that shouldn't include it. To mention deficits is to implicitly suggest a problem of revenues, but there's no such problem. We have deficits because Republicans (including Ryan) and Democrats have been spending way too much for way too long.
In talking up deficit reduction Ryan gives the Democrats the opening they need to bring "revenue enhancers" into the discussion; meaning marginal tax rate increases.
At Bloomberg, Amity Shlaes suggests the alternative to tax increases is the Ryan plan.
In The WSJ, Stephen Moore reports on the budget debate.
On The Kudlow Report, Stephen Moore debates the President’s tax hike proposal:
At TGSN, Ralph Benko notes the Founding Fathers’ preference for precious-metal backed money.
From Café Hayek, Russ Roberts counters Joseph Stiglitz’s comments on the wealthy.
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.
