The United States must race for economic growth. Both political parties are addicted to spending. We need to tax consumption, not investment. We need to do so because the federal deficit approaches 100% of gross domestic product. The outlook is bad. It shows deficits are set to rise faster than nominal GDP growth, real growth plus inflation, […]

Americans look to the federal government to keep the economy strong. It is the top concern voters want the president and Congress to address. But the federal government is wholly unsuited to bring about changes that can have a positive effect on the economic fortunes of Americans. In fact, it often makes things worse when […]

Social Security, the so-called “third rail” of politics, is ever-present in federal elections. And usually, it features in presidential elections.  Democrats accuse Republicans of seeking to slash seniors’ benefits. Republicans, meanwhile, pressure Democrats regarding the tax increases necessary to keep Democrats’ promises to pay all benefits in full, despite Social Security’s $24 trillion-plus long-term funding […]

Politicians from Franklin Roosevelt to Donald Trump have declared themselves the champions of “the forgotten man.” They claim to support the average working-class American whom Washington has purportedly overlooked and left behind.  To some modern commentators, recalling these forgotten men and women requires a robust tariff regime, designed to benefit domestic industries, especially manufacturing. To […]

A theme of President Joe Biden’s administration has been an insistence on a more equitable tax system for Americans.  According to the White House, one of their priorities has been to add “real fairness to the tax code.” The White House goes on to say that “one of the most important ways” they have done […]