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.
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.
Drug Reimportation and R&D Spending: The Economic Impact on the Illinois 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 dramatic negative impact on the Illinois economy, and its large biotech sector.
Does America Have a Prescription Drug Problem?: The Perils of Ignoring the Economics of Pharmaceuticals
Critics claim the pharmaceutical industry is unique and therefore requires distinctive forms of regulation, such as price controls. But absent in this view is a systematic appraisal of the economics of the industry. Were their approach adopted, the consequences would be less innovation, fewer life-saving drugs, and a less-healthy citizenry than what could be possible.
No Time Like the Present for Tax Reform
A Capital Gains Tax Cut: The Key to Economic Recovery
A capital gains tax cut would reliably stimulate economic growth. Historically, there is a strong relationship between capital gains tax cuts and overall economic growth. Over the past 30 years, every time the capital gains rates have been cut, capital gains revenues have risen. And now that almost half of all Americans own stock, a capital gains tax cut can no longer be said to benefit only “the rich.”
What's the Most Potent Way to Stimulate the Economy?
Which changes in tax policy will have the strongest economic benefit per revenue dollar? Reducing tax rates on capital, such as cutting the capital gains tax rate or shortening depreciation lives, would have the biggest economic payoff. Repealing the alternative minimum tax (AMT) would also be potent, though other proposals such as payroll tax cuts would have much less “bang for the buck.”
The Fiscal Plans of Al Gore and George Bush: A Comparison
At stake in this election is, among other things, the fate of almost $4.6 trillion in federal budget surpluses that the government expects to collect over the next ten years.
This Issue Brief compares the tax and spending plans of Al Gore and George Bush, and provides both static and dynamic forecasting of the economic effects of the candidates' proposals.
The Growing Case Against the International Monetary Fund
This paper summarizes the three major arguments against continued U.S. involvement in the IMF.
Taxpayers At Risk
Government Sponsored Enterprises:
The federal backing of GSE obligations may be implicit, but it is very real. Taxpayers have literally billions of dollars at stake if a GSE fails to meet its obligations.
Total Records: 630
