Archive for the ‘Tax Policy’ Category

Is there a deficit of deficit hysteria?

August 3rd, 2016

I hope so, and it’s what I wrote about yesterday in the WaPo. Let me entertain OTEers with a few more thoughts on the topic, including feedback I got yesterday. One response was: “You’re endorsing fiscal recklessness! There’s nothing “progressive” going on here; it’s just politicians not giving a crap about our troubled fiscal accounts.”… Read more

Share buybacks, our investment deficit, and bad tax ideas

July 13th, 2016

A quick note with more pictures than words. –Investment, both private business investment and public investment (infrastructure), have been weak of late. –In fact, as a share of GDP, business investment has consistently hit lower peaks over the last few business cycles. –Yet we know corporate profitability is high and the cost of capital is… Read more

Tax testimony at the JEC: Debunking supply-side mythology.

April 21st, 2016

Testified yesterday before the Joint Economic Committee–here’s my full write up. Here are my main findings: Fairness, simplicity, and revenue raising are often complementary: by closing regressive loopholes in the tax code, we reduce incentives to game the system, eliminate wasteful tax breaks that exacerbate inequality without promoting growth, and raise more revenues. Based on… Read more