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Issue Brief

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September 6, 2006

The Market Alternative to the Welfare State


Fear of projected fiscal problems is driving many policy thinkers, including some prominent conservatives, to accept the inevitability of large tax increases as a partial solution. This course is a mistake, as it will lead to economic stagnation. Instead, conservatives should confidently advocate the package of reforms presented in this study that will deliver superior benefits to U.S. taxpayers and citizens.

June 23, 2006

A Bad Trade: Will Congress Unwittingly Repeal the Digital Millennium Copyright Act and Violate Our Trade Treaties?


Many are attempting to rewrite intellectual property protections by altering the Digital Millennium Copyright Act, whether by broadening definitions of permissible conduct such as “fair use”, or by wholesale changes to current law. However, many have failed to consider the ramifications of these changes to our international agreements. Some legislative proposals would require renegotiation or complete dissolution of these trade agreements.

July 13, 2005

Price Indexing: The Undoing of Large Personal Retirement Accounts


Indexing Social Security benefits to the growth of prices is politically indefensible. Even with small personal accounts, price indexing would result in even lower returns for workers, and likely to lead to tax increases. A far better alternative are large personal accounts, which would make price indexing completely unnecessary. Such accounts would provide workers with much higher returns than under the current system, and restore Social Security to permanent solvency.
July 13, 2005

Stop the Raid, Start the Accounts


The total Social Security trust fund surplus would immediately fund 3.2 percent personal retirement accounts, stopping the spending raid on the trust fund and starting the personal accounts so broadly supported by the public. This would begin to solve Social Security’s unfunded liability problem while leaving the door open to a future extension of the accounts or other steps necessary for a comprehensive solution.

June 17, 2005

Drug Importation and R & D Spending: The Economic Impact on Washington's Economy


Consumer groups and the media are putting pressure on public officials to allow U.S. citizens to reimport drugs from foreign countries like Canada. Using an economic simulation model, this report concludes reimportation or price controls would have a significant negative impact on the Washington economy, and its large biotech sector.

March 11, 2005

Drug Importation and R&D Spending: The Economic Impact on Maryland's Economy


Consumer groups and the media are putting pressure on public officials to allow U.S. citizens to reimport drugs from foreign countries like Canada. Using an economic simulation model, this report concludes reimportation or price controls would have a significant negative impact on the Maryland economy, and its large biotech sector.

March 7, 2005

Social Security: Here's Your Problem


Social Security has two major problems that necessitate fundamental reform now. The program will fall far short of funds to pay promised benefits to today's middle-aged and younger workers, according to Social Security's own trustees. Additionally, workers get a very low return on the money they pay into the system. Saving and investing the money in personal accounts would yield much higher returns. Such accounts would solve the long-term bankruptcy problem as well.

February 8, 2005

Social Security Reform and National Spending Restraint


The most desirable method of financing the transition to personal retirement accounts is to modestly reduce the growth rate of federal spending. Raising taxes would harm the economy. And future benefit cuts are wholly unnecessary, not only because they would do nothing to bridge the short-term financing gap, but also because the eventual proceeds from large personal accounts would more than offset any savings gained from cuts in promised benefits.

January 26, 2005

There Are No "Transition Costs": A Hamiltonian Solution to the Social Security Crisis


Establishing personal retirement accounts creates no net new cost to the Social Security system. The act of refinancing and formalizing the $12 trillion liability is incorrectly interpreted as a “transition cost.” It is simply the part of the unfunded debt obligation that must be covered from sources other than current workers’ FICA contributions. Refinancing enables an eventual elimination of the liability. Alexander Hamilton performed a similar feat during the early days of the Republic.

January 14, 2005

A Framework For Tax Reform


Our current federal tax system fails to raise the necessary revenue to fund government in an efficient manner, and in a way that accurately prices the cost of government so that voters can make intelligent decisions. The President’s tax reform commission should establish neutrality, visibility, fairness and simplicity as criteria for a reformed tax code that will improve the economy and promote better government.

 

Total Records: 65

 

 

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