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 ›
Recent opinion polls show that substantial numbers of Americans believe: We are in a recession; free trade reduces jobs for American workers; controlling prices will make us better off; government can create jobs; the tax cut hurt economic growth; and corporations hurt American workers by moving their legal homes to lower-tax jurisdictions. None of the above statements are true. Why Read More ›
Discussion of economic policy matters among politicians has sunk almost to the level of a frat house food fight. There are several reasons for this sorry state of affairs. First, there is an appalling level of ignorance among many political leaders about economic fundamentals. For instance, Senate Majority Leader Tom Daschle recently blamed the recession, in part, on the president’s Read More ›