January 22, 2008 by Tom Armstrong.

How might lowering high marginal tax rates increase tax revenues? Click here to find out.

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January 22, 2008 by Tom Armstrong.

Russell Roberts discusses permanent income versus temporary income; he also mentions that the source of the income is important too.

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January 22, 2008 by Tom Armstrong.

Alan Reynolds says in his WSJ opinion today that

The economy was in recession from March 2001 to November 2001, but consumer spending fell in only the first and last of those months, plus September.

How could this be? Because most consumers take a long-term view of their economic prospects.

He continues:

But the 2001 rebate, unlike today’s proposals, was not temporary. It was an advance on tax refunds resulting from the reduction of the lowest tax rate to 10% from 15% on the first few thousand of taxable income — a reduction which still cuts every taxpaying couple’s tax bill by $600.

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January 22, 2008 by Tom Armstrong.

The sugar industry and the government seek to continue ripping off the U.S. consumer. Deadweight losses (an inefficiency or decrease in total surplus due to a market distortion) will continue, making the U.S. poorer than it otherwise would be in a free market.

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