Tariffs are controversial. Milton Friedman expertly laid out the reason tariffs harm consumers in a lecture he gave in Utah in 1978. He was correct about the effects of tariffs in a perfect world, but when fighting a trade manipulator such as China, there are other aspects of the issue to be considered. There is a […]
TAC Editor Merry on U.S. Trade History Basics
The editor of The American Conservative, Robert W. Merry takes readers on a tour of the history of American trade policies, highlighting what worked, what didn’t and what was controversial. He warns that despite long periods of calm in trade relations, flare ups are inevitable. Merry writes (abridged): America’s first great protectionist political figure was […]
The IRS—Trampling on the Rights of Citizens
The abuses by the IRS targeting political opposition during the Obama era are about to come to an end. The WSJ reports: President Donald Trump will nominate Charles Rettig, a California tax lawyer, to run the Internal Revenue Service, a person familiar with the matter said Monday. If confirmed by the Senate, Mr. Rettig will […]
Southern States on Tax Cuts: Bring it On!
While high tax Northern states are desperately attempting to find ways around new rules in the tax reform legislation passed at the end of 2017, the South is cheering them on. The problems stem from high state and local income and property taxes in the North that will no longer be fully deductible for federal […]
The U.S. Gets a Freer Economy in 2018
Donald Trump may not be the most dignified man to occupy the White House, understates James Freeman in the WSJ, but the results of his first year as president have been blockbuster for liberty in the United States. The largest rate cut in the history of the U.S. corporate income tax, along with individual tax […]
Why Doesn’t Governor Cuomo Fix the Empire State’s Tax Code?
Worried that the federal tax reform will negatively affect the state of New York, Andrew Cuomo told CNN that the new law may be “unconstitutional.” “We’re going to propose a restructuring of our tax code. I’m not even sure what they [Republicans] did is legally constitutional and that’s something we’re looking at now. You can […]
Can the GOP Turn Tax Cuts into Electoral Success?
After enacting the largest tax cuts since Ronald Reagan’s, Republicans will now have a chance to campaign on their efforts. Whether in 2018, or 2020 the effects of the tax cuts will be put to the test at the polls. Pat Buchanan says that the tax cut vote should not be underestimated. He writes: By […]
Merry Christmas in February for Employees’ Paychecks
Will the New York Times or Larry Summers be able to handle the truth that reduced taxes will be showing up in paychecks soon? In the WSJ’s Best of the Web, James Freeman outlines what he calls the February Surprise. In some ways it already has, as business enthusiasm for the Trump agenda of reduced […]
GOP Senators Have the Votes to Push Massive $1.5 Trillion Dollar Bill
Republicans senators secure support needed to pass a Tax reform bill that would slash corporate tax rates from 35% to 21% and repeal an important part of Obama’s Affordable Care Act. According to the 1,097-page bill released late Friday, today’s 35 percent rate on corporations would fall to 21 percent, the crown jewel of the […]
A Windfall for the Wealthy?
The narrative is everywhere–“How GOP Tax Plans Would Reward Rich Families,” “A Tax-Cut Bill to Make Scrooge McDuck Proud.” The only problem is that the narrative is false, explains Chris Edwards at the Cato Institute. The GOP’s tax proposals would give the largest relative cuts to the middle class, increase subsidies to low-income households, and […]
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