As we start to see the positive impacts of the most recent tax cuts, our tax code, after decades of poor policy and special interest influence, is still in need of further reforms to make it fairer and simpler .
A new study by economists who were the source of key ideas in last year’s tax reform legislation suggests the reform is better than what has been reported.
Virtually all income groups can expect substantial benefits from tax reform, according to a new study that uses the most sophisticated modeling available to economists.
Using a state-of-the-art model of international capital flows, economists are predicting the new tax reform legislation will give a jolt in the arm to the economy.
Greg Mankiw (Harvard) weighs in to show that there are theoretically large gains to labor when you reduce taxes on capital. Casey Mulligan (Chicago) cites Larry Summers’ own work to make a point that has long been standard fare in economics: a tax on capital is ultimately born by labor, not owners of capital. Alan Auerbach(Berkley) apparently agrees. See also John Cochrane (Stanford) and Steve Landsburg(Rochester).
Changes Republicans have made to their tax reform proposal take away some of the economic lift that was in the earlier House Republican proposal; but most of the benefits remain, according to a new study by Boston University economist Laurence Kotlikoff and his colleagues.
The two economists who influenced the design of the tax reform being proposed in the House of Representatives say it “has the potential to boost the economy, raise wages, maintain progressivity, and do so without expanding federal debt.”
Before a new drug can be approved for sale by the federal government, the manufacturer must show it is safe and effective. But once a drug is on the market, doctors are free to use it to treat almost any ailment – even if the drug has never been shown to be effective for that purpose.
Most Republican plans to replace Obamacare envision spending all their health insurance subsidy dollars in the individual market, just like Obamacare does. But a new plan takes a radically different approach.
Republicans did offer an alternative health plan and even President Obama’s own advisors thought the McCain health plan was better than the Obama approach.