A growing economy creates jobs, raises living standards, maintains global competitiveness, and thus engenders positive attitudes and optimism about the future.
While many policymakers seem intent on focusing on either economic stimulus or austerity, IPI believes that the economy can grow consistently and at higher rates than we’ve experienced in the last decade, and we reject the idea that economic growth contains within itself the seeds of its own demise through inflation, the business cycle, and erroneous Phillips Curve assumptions. Therefore, economic growth should be elected officials’ primary policy goal at the federal, state and local levels, and it’s the organizing principle of our policy work at IPI.
Whatever limitations may exist on economic growth, they should not be self-imposed through counterproductive tax policy, overbearing regulations, ill-conceived monetary policy, trade protectionism, or hostility toward skilled and ambitious immigration.
Van Hollen and Ways and Means Democrats Introduce Extension of 100% Bonus Depreciation Deduction
Rep. Chris Van Hollen introduced the Invest in America Now Act this week to extend 100% bonus depreciation through 2012 to encourage capital investments and job growth. A statement cites as background information evidence from IPI's 2001 study that every $1 of tax cuts devoted to accelerated depreciation generates about $9 of GDP growth.
There's a Triple Tax Increase in Your Future
The so-called Bush tax cuts are set to expire at the end of the year. That means that all of the current income tax rates will rise to pre-2001 levels overnight. But there's more. The health care law imposes a new 3.8% tax on passive income, including dividends and interest. So the effective dividend tax rate for those at the upper end of the income scale would nearly triple, to 43.4%. Happy New Year!
Is One Percent Really Too Much To Ask?
The "Penny Plan" does what everyone knows needs to be done—sets the federal government’s fiscal house in order and restrains government to a reasonable share of GDP.
The Tax War Against the Internet
Pro-tax forces across the country see broadband as the golden goose of tax revenue.
So Much for Courage
Once again, conservatives have attempted to eliminate a government program that creates economic distortions and puts taxpayers at risk; and once again the Washington establishment has cut their legs out from under them.
Comparing Obama's Policies with French Socialist Hollande
Obama economic policies are almost identical to those of the French socialist François Hollande. Those policies haven’t worked in Greece or in any other place where they’ve been tried — like the U.S.
What's Apple To Do?
It should NOT surprise us that innovative companies find ways to solve the problems created by our tax code.
Consolidation Nation: Under Obama, Big Is the New Normal
By injecting politics and regulation into the financial and health care sectors, the president is killing the innovation and competition that occur in markets that are easy to enter.
The Exception That Does Not Prove the Buffett Rule
A closer examination suggests that Buffett and his secretary present an exceptional and perhaps questionable anecdote rather than a pattern.
Obama's Love-Hate Relationship With Ben Bernanke
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