A new study of the 2017 federal tax cuts has found that, although controversial when adopted, the tax reform law will lead to lower taxes and higher wages as the average Georgia household will enjoy more than $39,000 in economic benefits over their lifetime. That’s the conclusion of a new study by Boston University professor Laurence Kotlikoff and funded by the Goodman Institute for Public Policy Research. An earlier study by Kotlikoff and economists at the Federal Reserve Bank of Atlanta estimated the gain at $22,676 because of personal income tax cuts. The new study adds the impact of lower corporate taxes. More
Donald Trump is probably the most consequential president of our lifetime. Yet in the four years of his presidency, I can recall very few instances where one of his major policy changes was rationally discussed on the editorial pages of the New York Times. Instead, it’s been four years of a steady stream of name calling. More
The Goodman Institute is doing work not done by any other organization – especially in the areas of tax, health care and entitlement policy. Without our work the nation might not have obtained tax reform. Now we need to defend it. The Trump administration used many of our ideas to deregulate the health care system – often by executive order. And we have developed a unique set of policy ideas for three groups of people who are critical in elections: seniors, women and people with pre-existing conditions.
Because of lower taxes and higher wages, the average Georgia household will enjoy more than $39,000 in economic benefits over their lifetime thanks to the 2017 federal tax cuts. That’s the conclusion of a Goodman Institute study by Boston University professor Laurence Kotlikoff. An earlier study by Kotlikoff and economists at the Federal Reserve Bank of Atlanta, also partly funded by the Goodman Institute, estimated the gain at $22,676 because of personal income tax cuts. The new study adds the impact of lower corporate taxes. More
Finance and accounting are probably the easiest health care services to outsource. But the potential list is growing. It’s estimated that one-third of all physician visits could be replaced by consultations using Zoom, Skype or Facebook – and the incidence of such remote consultations is soaring.
In the future, your doctor could be in India. So could your accountant, your lawyer and dozens of others who produce goods and services you consume. More
According to The New York Times article “Silver-Spoon Socialists,” there are legions of young people who want to use their trust fund money to destroy the very system that made their trust fund possible: capitalism. The Democratic Socialists of America has recently been transformed from a fringe group of older leftists to a national organization 100,000 strong – with most of its members under 35 years of age – according to the article. More
Avik Roy’s think tank, the Foundation for Research on Equal Opportunity (FREOPP), has produced a health reform proposal that has been introduced as a bipartisan bill in Congress. There is a lot of overlap with proposals you will find in the Health Care Choices document (endorsed by more thatn 70 representatives of think tanks and public policy organization) and many of these ideas are being implemented buy the Trump administration. More
Until recently, every patient with the coronavirus in the United States for the past ten months has been treated with a non-approved drug. What allows doctors to do this? They have always been able to do it.
In medicine, the use of non-approved drugs is ubiquitous. In fact, medical science couldn’t progress without it. In treating a patient with a brand-new condition (like Covid), for example, doctors often experiment with drugs that have worked for related conditions. They compare notes. They trade data on outcomes. They discard less-promising therapies for more promising therapies – in a trial and error process. More
The long-run loss to the US capital stock is roughly 6 percent and the long-run decline in output is roughly 2 percent. We predict a roughly 2 percentage-point reduction in wages of US workers, with a larger reduction in the wages of high-skilled workers. Changes of this magnitude could significantly offset the micro gains to low-wage and middle-wage workers of Biden’s fiscal reforms. More