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  • CBO Again Repeats Faulty Methodology to Estimate Impact of Stimulus

    There they go again. The Congressional Budget Office (CBO) just released yet another report on the beneficial impacts on the economy of President Obama’s 2009 stimulus. This latest one uses the same faulty methodology CBO used in prior reports. The CBO report follows closely on the heels of a similarly … More

    A Response to Robert VerBruggen on the Proper Tax Treatment of Interest

    Over at Real Clear Policy, Robert VerBruggen asks some thoughtful questions about my recent paper “The Proper Tax Treatment of Interest.” Below are my brief responses to his questions. VerBruggen asks: “If we balance out the bad incentives of taxes by handing out tax breaks in the ‘exact extra amount’ … More

    White House Still Defending Failed Stimulus Plan Five Years Later

    Five years later, it is obvious that President Obama’s stimulus was a failure. This week marks the fifth anniversary of Obama’s 2009 stimulus plan, a $763 billion package of increased government spending and non-growth-promoting tax cuts that was supposed to be a panacea for all that ailed the economy still … More

    Economic Growth to Remain Subpar Because of Policy Uncertainty

    The Bureau of Economic Analysis (BEA) will soon release its first estimate for how fast the economy grew in the fourth quarter of 2013 and for the entire year of 2013. The last report showed the economy moving up sharply in the third quarter of 2013 compared to where it … More

    These 13 Tax Increases Hit in 2013

    It’s about time for us to uncover our eyes and take a hard look at what 2013 did to our finances. Did you feel the pinch of the 13 tax hikes that hit Americans this year? Before you review the list below, put these two on your watch list for … More

    Baucus Continues Losing Streak with Energy Tax Reform Draft

    Chairman of the Senate Finance Committee Max Baucus (D–MT) released a draft bill to reform the way the tax code treats energy. This latest draft reform plan misses the mark, just like his earlier efforts on international tax and depreciation did. Baucus claims that his plan would stop the tax … More

    Top 1 Percent Pays Effective Tax Rate Nearly Three Times That of Middle Class

    New data from the Congressional Budget Office (CBO) show that President Obama’s much-discussed Buffett Rule, which would require families earning more than $1 million a year to pay an effective tax rate of 30 percent, is basically in effect. The data also show that President Obama’s premise for pushing the … More

    Baucus Heads Wrong Way on Important Part of Tax Reform — Again

    Chairman of the Senate Finance Committee Max Baucus (D–MT) continues to release draft proposals on important parts of tax reform. His latest draft proposal is a deeply troubling plan. Baucus proposes to change the way businesses deduct the cost of their capital expenses—things such as machinery, equipment, structures, property, and … More

    Baucus Joins International Tax Reform Debate, but His Plan Falls Short

    Chairman of the Senate Finance Committee Max Baucus (D–MT) released his draft proposal for reforming the tax treatment of multinational businesses. It is a positive step, if overdue, for tax reform. Increasing discussion about tax reform is a welcome step, because the U.S. badly needs to fix the system it … More

    Economy Still Growing Too Slowly

    The Bureau of Economic Analysis’s (BEA) first estimate of economic growth for the third quarter of this year shows an economy that continues to grow at a plodding pace. According to BEA, the economy grew at 2.8 percent from July 1 through September 30. This was slightly faster than the … More