9:10 AM, Nov 20, 2015 • By IKE BRANNON
Were you thinking that corporate tax reform seemed like a potentially bipartisan issue that could actually get accomplished in the last year of the Obama administration? Elizabeth Warren is here to scuttle that dream.
Here's the problem with our corporate tax code in a nutshell: We have the highest corporate tax rate in the developed world and our convoluted system imposes a tax on every dollar a corporation earns, no matter where it is earned. That means that U.S. corporations keep trillions of dollars parked overseas rather than returning it to the United States.
While attempts to get a wholesale reform of the tax code have gone nowhere, members on both sides of the aisle have been exploring a corporate-only tax reform that would reduce the corporate tax rate and alter how we tax foreign sourced income while getting rid of many of the tax preferences in the code. Such a reform would result in more domestic investment and job creation, higher economic growth, and little or no lost revenue.
Who could be against that? Elizabeth Warren, of course.
In a speech at the National Press Club this week, Warren pronounced that the real problem with the corporate tax is that it doesn't collect enough revenue, and that if anything we ought to be raising the rate.
Set aside the fact that the corporate tax rate isn't terribly progressive to begin with, given that a CBO study estimates that the bulk of the corporate income tax is paid by workers in the form of lower wages. The real problem with her diatribe is that she felt obligated to sabotage on one of the few bipartisan agreements that seem to be possible in the next year by employing the same stale rhetoric that the lefty blogs fall on when they run out of coherent arguments to use on corporate taxes.
Why Warren gets respect for her thoughtful posturing when her actions are indistinguishable from Ted Cruz is beyond me.
Ike Brannon is president of Capital Policy Analytics, a consulting firm in Washington.
12:01 AM, Oct 3, 2015 • By IRWIN M. STELZER
The only word to describe Friday’s job report is ugly. The private sector created only 118,000 new jobs in September, early estimates of job creation in July and August were lowered, average hourly earnings dropped a tiny bit, the labor force participation rate dropped to its lowest level since October 1977. Nothing here to justify the Federal Reserve Board’s policy gurus in raising interest rates, and much to make them happy that they withstood pressure to raise rates in the past.
A winning tax reform.
Sep 28, 2015, Vol. 21, No. 03 • By FRED BARNES
Some Republican presidential candidate was sure to come along with a credible tax reform plan to erase tax loopholes, preferences, and special breaks, broaden the tax base, and lower rates. Now Jeb Bush has done it. This marks a departure point in the GOP race.
5:01 PM, Sep 9, 2015 • By MICHAEL WARREN
Former Florida governor Jeb Bush laid out details of his economic plan in North Carolina Wednesday, focusing primarily on how he would reform the tax code as president. The proposal, Bush said, would help achieve his stated goal of four-percent annual economic growth.
A surprising divide on a core issue.
May 18, 2015, Vol. 20, No. 34 • By MICHAEL WARREN
Wisconsin Republican Paul Ryan has an unusual decoration on the wall of his Capitol Hill office: a framed Laffer curve. This totem of supply-siders everywhere is drawn on a napkin and signed by the economist Art Laffer himself. “To my friend, Paul Ryan,” reads the note.
Here's why.11:38 AM, May 7, 2015 • By IRWIN M. STELZER
The ice is finally melting. Not the Arctic ice, although that might be melting too. I mean the frozen position critics of the global warming hysterics have been taking. They disagree with Obama’s contention that the science of climate change is settled, and prefer reading actual temperatures recorded on thermometers to print-outs of assumption-ridden models.
1:33 PM, May 1, 2015 • By MICHAEL WARREN
Ohio governor John Kasich, who may run for the Republican nomination for president, said he is in talks with publisher and conservative activist Steve Forbes to develop a flat tax reform proposal.
"I’m in conversation now with Steve Forbes on the flat tax," Kasich said Friday afternoon at a lunch sponsored by the Christian Science Monitor.
It’s still a good idea. May 4, 2015, Vol. 20, No. 32 • By STEPHEN MOORE
Almost exactly 20 years ago, a gawky conservative renegade magazine publisher named Steve Forbes threw his hat in the ring for the 1996 GOP presidential nomination. Forbes’s run was first seen as a joke. But he wound up rocking the Republican establishment by injecting fresh and bold reform ideas into a party that had become crusty and tired.
4:04 PM, Apr 15, 2015 • By MICHAEL WARREN
While Hillary Clinton was meeting with voters in Iowa on her second full day as a presidential candidate, Marco Rubio spent part of his discussing a tax policy white paper at a Washington think tank. The newly declared candidate joined with Utah Republican Mike Lee at the Heritage Foundation to talk about their proposal to reform the tax code, which has already become a point of contention in Rubio's nascent presidential campaign.
7:31 AM, Mar 4, 2015 • By MICHAEL WARREN
Republican senators Marco Rubio of Florida and Mike Lee of Utah have returned to the pages of the Wall Street Journal to tout their latest tax reform proposal. The Republicans call their plan both "pro-growth" and "pro-family," and say it addresses inequities in the tax code for businesses and middle-class families.
Here's an excerpt:
The case for GOP boldness. Sep 29, 2014, Vol. 20, No. 03 • By FRED BARNES
Big ideas sometimes play a role in political campaigns, but not in this year’s midterm elections. Republican candidates concentrate on linking their opponents to President Obama and his policies. That’s it. Democrats are understandably wary of defending Obama. They go after Republicans on minor or trumped-up issues, often in unscrupulous TV ads.
Why do lobbyists work so hard to counter a tax bill that has no chance of passing? Mar 17, 2014, Vol. 19, No. 26 • By IKE BRANNON
When House Ways and Means Committee chairman Dave Camp, a Michigan Republican, introduced a major tax reform proposal at the end of February, the entire tax policy world in Washington was set into motion. I have friends who lobby on tax issues who claim they did not sleep the two days after the release, working through consecutive nights to read the bill, confer with colleagues, and conceive of a plan to counter what’s in the bill that impacts their clients.
Hosted by Michael Graham.4:11 PM, Oct 15, 2013 • By TWS PODCAST
THE WEEKLY STANDARD podcast with staff writer John McCormack on the latest in the government shutdown and debt ceiling talks:
Hosted by Michael Graham.4:05 PM, Oct 11, 2013 • By TWS PODCAST
THE WEEKLY STANDARD podcast with staff writer Jay Cost on the government shutdown and whether the GOP has a strategy to end it with a policy victory.