Center on Wealth & Poverty

Bolder Strokes… For Tax Cut Hopes

The reason President Bush’s tax cut proposal is in trouble is not that it is too big, but because it is not bold enough in removing all taxes from saving and investment. The tax cut debate has clearly shown that among opinion leaders and member of Congress, the split is roughly equal between those who understand how the economy works Read More ›

Discovery fellow Richard Rahn on CNBC tonight

Discovery Senior Fellow Richard Rahn, a prominent economist who writes regularly in the Washington Times, will appear on the CNBC program “Kudlow & Cramer” tonight at 5 p.m., 8 p.m. and 11 p.m. Pacific. CNBC is on Comcast channel 46 in the Seattle area. To find out your local cable listings, click here.

Coming Battle to Restore Iraq’s Economy

As the military battle for Iraq comes to an end, a new battle is beginning – how to rebuild Iraq. On one side are those who believe that, by establishing the proper institutions and rules, the Iraqis will be able to rather quickly rebuild their own economy without placing a burden on U.S. taxpayers. The other side, primarily led by Read More ›

Old Europe Is Late for the Capitalist Ball

Old Europe — France and Germany — is suffering through an economic malaise not seen since Jimmy Carter’s America of a generation ago. But we shouldn’t give up on them yet. A quarter century after Margaret Thatcher and Ronald Reagan began their crusades for high-growth economic policies in the U.K. and the U.S., a quiet movement is underway in the Read More ›

Who Should You Believe?

A letter signed by a couple of hundred well-known economists appeared under the headline “Bush tax cuts are the wrong approach” in a paid ad in the Feb. 11 edition of the New York Times. The White House also has released a list of a couple of hundred well-known economists, including this author, who endorse the president’s package. How are Read More ›

European Union on a glass ball in front of shining lights

The Economic Ruin of Europe

Assume the villain in a new James Bond movie has the goal of the economic destruction of Europe. How would he do it? First some background. In the 1960s and 1970s, Europe boasted brisk economic growth. From 1965 to 1974, government spending in Western Europe averaged 37 percent of the gross domestic product (GDP), and economic growth averaged 4.3 percent Read More ›

Portraits / images / the eyes of famous leader on banknotes, currencies of the most dominant countries in the world i.e. Japanese yen, US dollar, Chinese yuan, Australian dollar. Financial concept.

Follow the Money

If you want to catch a criminal or terrorist, does it make sense to “follow the money”? A “yes” answer makes sense if you can identify at least one of the individuals or institutions connected with the suspected wrongdoer. However, if you are trying to follow money flows in general or all money flows, it is not likely your work Read More ›

Tax Fairness Fabrications

The predictable rants that the president’s tax proposals are unfair and benefit the rich have begun. The fact is that the president’s proposals make the tax code fairer by any reasonable standard. Most Americans would agree, as a matter of fairness, that taxpayers making equal income should pay the same tax; that legitimate business expenses should be deducted before calculating Read More ›

Government Workers Less Productive?

Which group of workers contributes most to the gross domestic product? One could have a lively debate about this question. As one who is a firm believer in small and limited government, I argue that two of the most productive workers are elementary school teachers, who teach children basic reading and math skills, and honest and wise judges.It is hard Read More ›

Two New Salesmen

Will the new Bush economic team succeed? The short answer is yes, and here’s why. John Snow and Stephen Friedman have been brought on as Treasury Secretary and head of the National Economic Council not so much to make policy as to sell it. They have reputations as consensus builders, and for being effective advocates for their policies. Critics of Read More ›