What has gone completely missing here is a burning philosophical and ideological dispute between two wings of Trumpism. One seethes with right-wing Hegelian longings for an overthrow of the modern world and a resuscitation of tribalist nationalism (in short, fascism). The other is quasi-liberal at its best, seeking mostly to get government off our backs and unleash merchant-driven enterprise and economic recovery.
Daily Economy News
Reforming taxes to reduce, or even control, the budget deficit is like a cat trying to catch its own tail. Deficit reduction will require major, structural spending reform, an item that is notably absent from the GOP legislative agenda.
Recent indicators for the labor market from ADP, Challenger, Gray, and Christmas, and state unemployment insurance programs remain quite strong, suggesting continuing gains in jobs in the U.S. economy.
Auto sales eased back to 17.5 million in November, the second monthly slowing following a hurricane-related surge to 18.6 million in September. Despite the slowing over the latest two months, auto sales remain at a high level by historical comparison.
These taxes appear to be imposed on purely digital providers, whether they have any nexus or receive any public services in the state or not, simply to replace the tax revenue lost from traditional, brick-and-mortar storefronts.
Scarce parking is a sign that prices need to rise or more parking needs to be created, since the laws of supply and demand apply to parking too.
Aligning the goals of transit users and transit funders requires costly political changes that come with their own problems, but agencies must address their funding deficiencies if they hope for a future beyond rusty rails, crumbling concrete, and broken-down buses.
The underlying problems that are overlooked in this discussion are the burdensome tax policies and profligate spending programs already present in many states.
When Arthur Laffer drew this famous picture on a napkin to Donald Rumsfeld and Dick Cheney during a lunch in 1974, the reaction was ecstatic: that’s exactly what they needed, some justification for doing what politicians are best at doing anyway: giving away the goodies that don’t cost anything. The best of both worlds!
In keeping with Harwood’s practice of teaching the new generation of students to conduct high-quality applied economic research, AIER is setting a national example in establishing collaborative partnerships between universities and practitioners.
A hidden, extra 45.6 percent tax bracket, is tucked away inside the GOP plan. They are more concerned with recovering “lost” revenue than with stimulating economic growth. The great Art Laffer’s influence over Republican tax policy has definitively come to an end.