Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Milken Institute: Cutting Corporate Income Tax would raise GDP
Howard Richman, 1/31/2010
On January 26, the Milken Institute issued a research report entitled Jobs for America: Investments and Policies for Economic Growth and Competitiveness. They analyzed several proposals for enhancing the American economy, and concluded:
• Reducing U.S. corporate income tax rates to the current average of OECD countries (from the current 35 percent to 22 percent) stimulates growth. By 2019, real GDP rises by 2.2 percent (or $375.55 billion) and 2.13 million jobs are created.
• Increasing the R&D tax credit by 25 percent and making it permanent enhances American innovation. By 2019, real GDP rises by 1.2 percent (or $206.3 billion) and 316,000 manufacturing jobs are created.
• Modernizing export controls on commercially available technology products for some countries would allow U.S. firms to capture increased international market share. In this scenario, real exports of goods and services rise by 1.9 percent (or $56.6 billion), and 340,000 jobs are added by 2019 (160,000 of them in the manufacturing sector).
Archive
- Milken Institute: Cutting Corporate Income Tax would raise GDP
- 4th Quarter GDP Shows Economy Heading Upward
- Book Review of Weyrich and Lind, The Next Conservatism
- Ha-Joon Chang takes on Free Trade in his book The Bad Samaritans
- Ralph Gomory: The time has come to take Warren Buffett's Import Certificates plan seriously
- The Age of Scientific Conformity
- A Review of Ron Paul's End the Fed
- Volcker may have replaced Summers as Obama's chief economic advisor
- Why There Has Been No Keynesian Multiplier
- Obama's Anti-Bank Rhetoric Fails in Massachusetts
- Obama now claims to be a populist!
- Google Has Its Rosa Parks Moment -- I'm published by Seeking Alpha today
- Larry Ringler: Google's courage may turn the tide in our dealings with China
- Peter Navarro writes commentary on China's industrial espionage
- Policies to Get the Economy Going
- Jobs, Jobs, Jobs - We were published in American Thinker this morning
- Doha Round stalls over US demand that India and China open their markets
- Ambrose Pritchard: America Slides Deeper into Depression
- Peter Morici: Free Trade is Failing America
- Cost of treasury bailout of FNMA and Freddie MXC
- Manufacturing employment continued to decline in December
- Calla Wiemer misunderstands Chinese mercantilism in Wall Street Journal
- NY Times now explaining Chinese mercantilism
- Obama raises stakes on his house price gamble
- 5.4% tax surcharge on rich in House Health Care Bill would apply to capital gains & dividends
- Foreclosures.com: "House Prices Will Roar Back in 2009"
- Levy Economics Institute's analysis of Import Certificates to balance trade
- Wall Street Journal's take on Bush economic mistakes
- Requiem to an Improvident Generation
- US wins WTO appeal on China's non-tariff barriers against US movies, music, and games
- Prof. Krugman and Chinese Mercantilism
- China agrees to modify export subsidies
- American Economic Alert
- American Jobs Alliance
- Angry Bear Blog
- Economy in Crisis
- Econbrowser
- Levy Economics Institute
- McKeever Institute
- Michael Pettis Blog
- Naked Capitalism
- Natural Born Conservative
- Science & Public Policy Inst.
- TradeReform.org
- What's Up With That
Wikipedia:
- [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]
Journal of Economic Literature:
- [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....
Atlantic Economic Journal:
- In Trading Away Our Future Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]
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