December 3, 2008
Cutting Taxes to Promote Growth and Restore Fairness: A Memo to President-elect Obama
By Alison Acosta Fraser and Curtis S. Dubay
(Special Report #29)
President-elect Obama, a centerpiece of your campaign was your pledge to cut taxes for 95 percent of American workers. Middle-class voters, especially, connected strongly with ...
December 3, 2008
Growth, Deficits, and the Future
By J. D. Foster, Ph.D.
(WebMemo #2150)
Paul Krugman, in his article in The New York Times on December 1, “Deficits and the Future,” discusses deficit spending reflecting both the weakening state ...
December 3, 2008
Permanent Tax Relief—Not Tax "Holidays"—Stimulates Economic Growth
By Stuart M. Butler, Ph.D.
(WebMemo #2152)
Fiscal policy in the form of short-term tax holidays, or temporary spending jolts, will not rekindle economic growth; only long-term reductions in marginal tax rates ...
November 20, 2008
Does Detroit Really Need a Bailout? Lessons from Britain
By Nigel Hawkins
(WebMemo #2137)
Britain's experience with two major industries—shipbuilding and automobiles—shows why governments should hesitate to provide heavy subsidies in an effort to "save" firms with serious management ...
November 19, 2008
Auto Bailout Ignores Excessive Labor Costs
By James Sherk
(WebMemo #2135)
Detroit autoworkers have substantially more benefits than most Americans. These benefits have been a major force driving the Detroit automakers' current fiscal woes.
November 18, 2008
Extended Unemployment Insurance--No Economic Stimulus
By James Sherk and Karen A. Campbell, Ph.D.
(Center for Data Analysis Report #08-13)
Many Members of Congress support a second economic stimulus package, including extending the time period over which workers can collect unemployment insurance (UI). A comprehensive ...
November 17, 2008
The Automaker Bailout: Questions Congress Must Ask the Automakers
By Andrew M. Grossman
(WebMemo #2134)
For Congress to be a wise steward of the public purse and responsibly evaluate the need for a bailout, it requires an unvarnished account of ...
November 16, 2008
The Detroit Bailout: Unsafe at Any Cost
By James L. Gattuso and Nicolas D. Loris
(WebMemo #2133)
Should Washington bail out the Big Three automakers? A far better approach is to restructure through a formal bankruptcy process if necessary. Bankruptcy—and the prospect ...
November 15, 2008
Automakers Need Bankruptcy, Not Bailout
By Andrew M. Grossman
(Legal Memorandum #33)
For the Big Three, staying the course (the only alternative to reorganization in bankruptcy) guarantees failure. Outside of bankruptcy, the automakers will have neither the ...
November 14, 2008
TARP and the Treasury: Time to Allow Markets to Work
By James L. Gattuso, David C. John, and J. D. Foster, Ph.D.
(WebMemo #2131)
Treasury Secretary Henry Paulson recently announced yet another change in direction of the “Troubled Asset Relief Program” (TARP), sowing more uncertainty and confusion in the ...
November 7, 2008
Heritage Employment Report: October Report Shows Fall in Jobs
By Rea S. Hederman, Jr.
(WebMemo #2125)
The October jobs report shows the American economy is in bad shape. Consequently, the federal government should take steps to improve the economy with policies ...
October 24, 2008
How to Successfully Stimulate the Economy
By William W. Beach
(WebMemo #2113)
Serious work by the Congress in tax, energy, and spending policy will create greater predictability for investors and business owners and assure workers that they ...
October 23, 2008
Treasury's Bank Capital Purchase Program: Avoiding a Dangerous Legacy
By David C. John
(WebMemo #2110)
Last week, the Treasury Department announced the direct purchase of equity stakes in U.S. banks in order to increase the capital levels of those institutions. ...
October 23, 2008
Economic Recovery: Options and Challenges
By William W. Beach
(Testimony )
The stock market turmoil that has captured everyone's attention is rooted in the ongoing crisis in credit markets and aggravated by the slowdown in general ...
October 23, 2008
Why an Independent Financial Markets Commission Is Needed Now
By David M. Mason
(WebMemo #2112)
An Independent Commission on Financial Markets—similar to the 1987 Brady Commission, but chartered by Congress—could provide Congress and the next Administration with the information necessary ...
October 22, 2008
Meltdowns and Myths: Did Deregulation Cause the Financial Crisis?
By James L. Gattuso
(WebMemo #2109)
Easy answers are seldom correct ones. That principle seems to be at work as the nation struggles to discover the causes of financial crisis now ...
October 17, 2008
Job Creation from the Obama and McCain Tax Plans: A State-by-State Analysis
By Shanea J. Watkins, Ph.D.
(WebMemo #2105)
A recent Heritage Foundation Center for Data Analysis report describes the economic outcomes that can be expected based on the presidential candidates' proposed tax plans. ...
October 15, 2008
Obama's and McCain's Budget Proposals Lack Detail
By Brian M. Riedl
(WebMemo #2102)
Both Barack Obama and John McCain have produced budget plans that focus on short-term goals, and both their plans lack detail on how to achieve ...
October 15, 2008
Obama's and McCain's Tax Plans: A Mixed Bag
By J. D. Foster, Ph.D.
(WebMemo #2101)
Senators John McCain (R–AZ) and Barack Obama (D–IL) have released tax plans indicating their priorities when one of them becomes President of the United States. ...
October 3, 2008
Heritage Employment Report: September's Job Report is Grim
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #2096)
The September jobs report is not surprising in light of the overall downturn of the economy. The economy is slipping off the edge and could ...
October 2, 2008
SEC Makes Mark-to-Market Accounting Markedly Better
By David C. John and James L. Gattuso
(WebMemo #2095)
The SEC and FASB clarifications on mark-to-market accounting rules both address shortcomings in the application of the existing rule and will help to ensure that ...
October 1, 2008
The Economic Case for Drilling Oil Reserves
By David W. Kreutzer, Ph.D.
(WebMemo #2093)
Energy is critical to the operation of our economy and the maintenance and improvement of our standard of living. Restricting access to energy hurts the ...
October 1, 2008
Action on Financial Rescue Plan Urgently Needed
By Stuart M. Butler, Ph.D., and Edwin Meese III
(WebMemo #2094)
A revised so-called "bailout" package is being readied for a Senate vote and subsequent action in the House. Action on this rescue package is urgently ...
September 29, 2008
The Bailout Package: Vital and Acceptable
By Stuart M. Butler, Ph.D., and Edwin Meese III
(WebMemo #2091)
Financial markets in the United States and around the world face a dire emergency requiring urgent and decisive action. The package of emergency steps now ...
September 28, 2008
An Initial Review of the Bailout Agreement
By Alison Acosta Fraser and Todd F. Gaziano
(WebMemo #2089)
Administration and congressional negotiators reached agreement early Sunday on a package of actions to address the alarming financial situation facing the U.S. economy. Although several ...
September 26, 2008
House Tax Extenders Bill Is Bad for Business and the Economy
By Rea S. Hederman, Jr., and Nicolas Loris
(WebMemo #2084)
The tax extenders legislation that passed the House 257–166 on September 26 has significant problems. The tax cuts and increased spending in the bill are ...
September 26, 2008
The Housing Bailout: Constitutional Infirmities Remain, but a Ray of Hope
By Andrew M. Grossman, Robert Alt, Todd Gaziano
(WebMemo #2086)
Congress can put together a plan that does not violate our fundamental law. Those who, for reasons of economic policy, favor the leadership/White House proposal ...
September 24, 2008
All Deliberate Speed: Constitutional Fidelity and Prudent Policy Go Hand in Hand in Fixing the Credit Crisis
By Todd F. Gaziano and Andrew M. Grossman
(WebMemo #2079)
For sound policy and constitutional reasons, Congress should not recess until it acts on a solution to the credit crisis, but it should also be ...
September 23, 2008
Financial Cleanup Steps for Congress—The Next Steps and Beyond
By J. D. Foster, Ph.D.
(WebMemo #2075)
Congress is working toward passage of legislation requested by the Administration that would create a new financial entity as part of the federal government to ...
September 22, 2008
The Financial Bailout (and the New Resolution Trust Corp.) Must Restore the Markets and Protect the Taxpayer
By David C. John
(WebMemo #2072)
The House and Senate must have two objectives when putting together their versions of the financial bailout proposal made by the Treasury and Federal Reserve: ...
September 19, 2008
What Should Be Done About the Financial Markets?
By Stuart M. Butler, Ph.D., Alison Acosta Fraser, and James L. Gattuso
(WebMemo #2070)
Lawmakers have just been presented with the outline of an expansive and potentially costly package of proposals said to be needed to bring a permanent ...
September 19, 2008
First Thoughts on the New Resolution Trust Corporation
By David John and J.D. Foster, Ph.D.
(WebMemo #2069)
Perhaps the most important and most controversial measure amidst the financial turmoil is the suggestion that Congress create an entity similar to the Resolution Trust ...
September 16, 2008
Free-Market Philanthropy: The Social Aspect of Entrepreneurship
By Guinevere Nell, James Sherk, and Paul L. Winfree
(Center for Data Analysis Report #08-07)
An enduring criticism of free markets is that they are based on self-centered greed. However, the philanthropic actions of entrepreneurs, measured by the size of ...
September 10, 2008
New CBO Budget Baseline Shows Entitlements Driving Budget Deficits Higher
By Brian Riedl
(WebMemo #2057)
The Congressional Budget Office’s new 10-year baseline shows steep Social Security, Medicare, and Medicaid spending costs driving the budget deficit upwards.The best way to get ...
September 9, 2008
Fannie and Freddie: Time to Clean up the Mess and Move Forward
By J.D. Foster, Ph.D., David A. John, and Stephen C. Keen
(WebMemo #2055)
Decades of policy mistakes creating and protecting Fannie Mae and Freddie Mac finally led the predicted system risk to become a dangerous financial reality. However, ...
September 5, 2008
High Energy and Food Prices: Driving the August Employment Report Slowdown
By James Sherk
(WebMemo #2051)
On Friday, September 5 the Bureau of Labor Statistics released its employment estimates for August 2008. Government data shows that employers continued to shed jobs ...
September 4, 2008
Fannie Mae and Freddie Mac: Avoiding the Next Big Mistake
By David C. John
(WebMemo #2050)
Politically, Fannie Mae's and Freddie Mac’s financial woes are coming at the worst possible time. However, strong leadership within the Treasury Department and the new ...
September 2, 2008
Job-to-Job Transitions: More Mobility and Security in the Workforce
By James Sherk
(Center for Data Analysis Report #08-06)
Many Americans are understandably worried about their job security, but policymakers should understand that American jobs are more secure today than in past years. Employers ...
August 18, 2008
Fighting for Freedom in Rural Peru: "ALBA Houses" Threaten Democracy
By James M. Roberts and Edwar Enrique Escalante
(Backgrounder #2173)
Venezuelan president Hugo Chavez is spreading his toxic "21st Century Bolivarian Socialism" through "ALBA houses" in Peru that are aimed at subverting market-based democracy and ...
August 7, 2008
Land Use Deregulation Should Be Part of Any Housing Reform Plan
By Wendell Cox and Ronald Utt
(WebMemo #2014)
In a time when there are increasing concerns about the rising cost of living over everything from gas prices to food prices, policymakers should hasten ...
August 1, 2008
July Job Losses Lighter than Expected
By Rea S. Hederman Jr and James Sherk
(WebMemo #2008)
The July jobs report is not one that would be expected if the economy were in a recession. Job losses are relatively light and contained ...
July 15, 2008
Congress Should Fix the Fannie Mae and Freddie Mac Mess
By David C. John
(WebMemo #1993)
Sunday's announcement by the Bush Administration and the Federal Reserve seems to have cooled the immediate crisis concerning Fannie Mae and Freddie Mac. However, their ...
July 14, 2008
How Rising Gas Prices Hurt American Households
By Karen A. Campbell, Ph.D.
(Backgrounder #2162)
Higher gas prices lower employment, income, and spending. To the extent that the high price of gasoline is not a clear signal because of excessive ...
July 3, 2008
No Celebration for June Jobs Report
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1980)
The American economy continues to stall, making the atmosphere even less conducive for tax increases.
June 25, 2008
How Will Freedom Succeed?
By The Reverend Robert A. Sirico
(Heritage Lecture #1090)
Human freedom is insufficient in itself to provide a good and prosperous life for people. It is not its own safeguard. Rather, it requires institutions ...
June 20, 2008
Discussion of the Costs of the Iraq War
By William W. Beach
(Testimony )
Testimony before the Joint Economic Committee United States Senate
June 2, 2008
The Dodd-Shelby Housing Bill: A Bad FHA Refinance Plan Hijacks Good GSE Reforms
By David C. John
(WebMemo #1941)
The Senate Banking Committee’s housing package contains some very important reforms and one very bad idea. Chairman Chris Dodd’s (D–CT) version of legislation to use ...
May 8, 2008
China's Undervalued Currency Benefits Americans
By Ambassador Terry Miller
(WebMemo #1919)
Politicians looking for quick fixes to perceived U.S. economic ills have focused yet again on trade. The China Currency Manipulation Act of 2008 was introduced ...
May 6, 2008
Meeting Energy Challenges in the Western Hemisphere
By Ray Walser, Ph.D.
(Heritage Lecture #1079)
Meeting the nation’s petroleum needs from affordable and secure sources is vital for national security. The best guarantee for future energy security remains a stable, ...
May 6, 2008
H-1B Workers: Highly Skilled, Highly Needed
By James Sherk
(WebMemo #1916)
H-1B visas enable businesses to temporarily hire highly skilled immigrants to fill vital positions. Immigration opponents argue that workers on H-1B visas are not especially ...
May 6, 2008
H.R. 5830, the Frank–Dodd FHA Refinance Plan, Is Still the Wrong Policy for the Housing Mess
By David C. John
(WebMemo #1918)
Chairman Barney Frank (D–MA) of the House Financial Services Committee has proposed H.R. 5830, which would use the Federal Housing Administration (FHA) to refinance at-risk ...
May 3, 2008
April Jobs Report Provides a Glimmer of Sunlight
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1914)
The American economy continued to shed jobs in April due to the housing market crash, but according to the Bureau of Labor Statistics’ payroll survey, ...
April 30, 2008
More H-1B Visas, More American Jobs, A Better Economy
By James Sherk and Guinevere Nell
(Center for Data Analysis Report #08-01)
High-tech employers cannot hire needed new workers, and advanced fields like computers and mathematicals are at full employment. Raising the cap on H-1B visas for ...
April 29, 2008
How Smart Growth Exacerbated the International Financial Crisis
By Wendell Cox
(WebMemo #1906)
The U.S. mortgage meltdown has dominated business news for months. The crisis seems to deepen daily, and its impacts are felt throughout an increasingly interdependent ...
April 22, 2008
The Subprime Mortgage Market Collapse:
A Primer on the Causes and Possible Solutions
By Ronald D. Utt, Ph.D.
(Backgrounder #2127)
The collapse of the subprime mortgage market has created depression-like conditions in the housing market and driven the economy to the brink of recession, but ...
April 22, 2008
Executive Summary: The Subprime Mortgage Market Collapse: A Primer on the Causes and Possible Solutions
By Ronald D. Utt, Ph.D.
(Executive Summary #2127)
The collapse of the subprime mortgage market has created depression-like conditions in the housing market and driven the economy to the brink of recession, but ...
April 17, 2008
Getting Better, Not Bitter, in Pennsylvania
By Ambassador Terry Miller
(WebMemo #1895)
The recent firestorm over Senator Barack Obama's comments about Pennsylvania's "bitter" voters has focused on charges of condescension and on the perceived denigration of gun ...
April 15, 2008
Private Faith, Big Government: Understanding the Impact of Marginalizing Religion
By Ryan Messmore
(Backgrounder #2123)
In the 20th century, America witnessed a significant transition toward a privatized understanding of reli¬gion. Social and political pressures have prompted many to view religion ...
April 15, 2008
Economic Effects of Increasing the Tax Rates on Capital Gains and Dividends
By William Beach, Rea S. Hederman, Jr., and Guinevere Nell
(WebMemo #1891)
On December 31, 2010, the low tax rates on capital gains and dividends enacted in 2003 will increase to the higher level that applied prior ...
April 4, 2008
Economic Pessimism: No Excuse for Protectionism
By Anthony B. Kim
(WebMemo #1883)
Especially in a presidential election year, Congress must take a long-term view focused on strengthening economic fundamentals.
April 4, 2008
March Jobs Report Confirms a Poor First Quarter for the American Economy in 2008
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1885)
The March jobs report shows a weakening economy. However, by historical standards the current job market remains strong. An unemployment rate of 5.1 percent is ...
April 3, 2008
Subprime Mortgage Problems: A Quick Tour Through the Rubble
By Ronald D. Utt
(WebMemo #1881)
Proposals for new federal spending and credit programs would greatly expand the role of government in the economy while doing little to alleviate the distress ...
March 31, 2008
The Housing and Financial Markets:
Congressional Action Could Disrupt Market Correction
By J.D. Foster
(WebMemo #1874)
Congressional action could prolong and exacerbate the current situation.
March 31, 2008
The Isakson Tax Credit: Another Approach that Won't Fix the Mortgage Mess
By David C. John
(WebMemo #1873)
Unfortunately, there are no simple or quick solutions to a highly complex financial situation.
March 31, 2008
Increasing the Cap for H-1B Visas Would Help the Economy
By James Sherk and Diem Nguyen
(WebMemo #1875)
Congress should allow America's high-tech industries to hire more skilled foreigners to work in the United States.
March 24, 2008
Frank-Dodd Approach Won't Fix the Mortgage Mess
By David C. John
(WebMemo #1864)
The most discussed proposals in Congress would make matters worse over the long term.
March 20, 2008
Preventing the Next Subprime Crisis
By David C. John
(WebMemo #1862)
If implemented properly, recommendations made by the President's Working Group on Financial Markets will help to prevent the next subprime mortgage crisis.
March 18, 2008
The Fed Engages as Economy Wavers
By J.D. Foster, Ph.D. and David C. John
(WebMemo #1857)
The health of the economy will depend significantly on the actions of the Federal Reserve in the days and weeks ahead.
March 11, 2008
The House Budget Resolution: Tax Hikes Would Harm Economy, Taxpayers
By Shanea Watkins, Ph.D.
(WebMemo #1844)
This WebMemo projects the likely impact of the House budget resolution in states and congressional districts.
March 7, 2008
Jobs Picture Darkens
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1839)
The federal government should ease the burdens it imposes on businesses and entrepreneurs.
March 4, 2008
Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom
By J.D. Foster, Ph.D.
(WebMemo #1835)
The 1993 tax increase probably slowed the economy compared to what it could have achieved.
February 27, 2008
Want More Economic Stimulus? Pass the Pending Free Trade Agreements!
By James M. Roberts
(WebMemo #1830)
Congress should pass the pending FTAs with Colombia, Panama, and South Korea.
February 26, 2008
No Economic Silver Lining in Tax Hikes
By J. D. Foster, Ph.D.
(WebMemo #1826)
A new theory mistakenly suggests that higher taxes may be benign or even beneficial to economic growth.
February 7, 2008
President's Homeownership Proposals Should Be Sent Back to the Drawing Board
By Ronald D. Utt, Ph.D.
(WebMemo #1802)
Expanding the federal government's role in the mortgage market would encourage more irresponsible behavior.
February 1, 2008
The January Employment Report: Private Employment Increased
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1792)
An aggressive stimulus package containing rebates and new spending would be an excessive response to the current economic situation.
January 25, 2008
RSC Stimulus Proposal Would Be a Move in the Right Direction
By Tom Finnigan
(WebMemo #1779)
As an alternative to rebates, this proposal would lower the tax and regulatory burden on businesses.
January 24, 2008
The House Stimulus Package: The Good and the Bad
By Rea S. Hederman, Jr.
(WebMemo #1778)
Certain elements would boost the economy, but other provisions should be omitted.
January 18, 2008
Congressional Hearing on What Should Congress Do to Avoid a Recession
By William W. Beach
(Testimony )
Congressional Hearing on What Should Congress Do to Avoid a Recession
January 18, 2008
Why Tax Rate Reductions Are More Stimulative Than Rebates: Lessons from 2001 and 2003
By Brian M. Riedl
(WebMemo #1776)
Lawmakers currently examining economic stimulus proposals should reject rebates in favor of tax rate reductions.
January 18, 2008
Unemployment Insurance Does Not Stimulate the Economy
By James Sherk and Patrick Tyrrell
(WebMemo #1777)
Extending unemployment benefits would harm the economy.
January 10, 2008
A Safe and Bountiful Harvest: How to Ensure America's Food Safety
By Daniella Markheim and Caroline Walsh
(Backgrounder #2096)
Legislating an unwise food safety policy could seriously undermine the primary benefits of international trade and harm U.S. households and the economy as a whole. ...
January 7, 2008
The Economy's Year-End Fizz
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1766)
Policymakers should be careful not to overreact to the December jobs report.
December 31, 2007
Taxing Visitors Is the Wrong Way to Promote the United States
By James Jay Carafano, Ph.D.
(WebMemo #1764)
Congress should do its own job better and leave travel promotion to the private sector.
December 13, 2007
HOPE NOW: One Step to Resolve the Subprime Mortgage Crisis
By David C. John and Alison Acosta Fraser
(WebMemo #1742)
Treasury Secretary Henry Paulson’s “HOPE NOW” is a far better way to deal with the hundreds of billions of dollars worth of subprime mortgages than ...
December 7, 2007
Employment Fattens Up During November
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1726)
The Bureau of Labor Statistics gives a bit of holiday cheer and stems worries that the economy is rapidly heading for a recession.
December 6, 2007
Beware of Cap and Trade Climate Bills
By Ben Lieberman
(WebMemo #1723)
S. 2191 would likely increase energy costs and do considerably more economic harm than environmental good.
November 30, 2007
Sovereign Wealth Funds No Cause for Panic
By Terry Miller, Daniella Markheim, and Anthony B. Kim
(WebMemo #1713)
Policymakers should not consider stricter investment controls in the wake of Abu Dhabi's purchase of 4.9 percent of Citicorp.
November 27, 2007
Productivity Growth, Not Trade, Is Cutting Manufacturing Jobs
By Ambassador Terry Miller
(WebMemo #1709)
U.S. leaders must reject anti-trade demagoguery and embrace America's tradition of optimism in the face of change and progress.
November 14, 2007
H.R. 3915 Would Impose New Burdens and Limits on Moderate Income Borrowers
By Ronald D. Utt, Ph.D.
(WebMemo #1703)
H.R.3915 would make borrowing tougher for moderate income families and delay the housing market recovery that is now struggling to get underway.
November 7, 2007
The End of Pro-Growth Tax Policy: How the Rangel Tax Bill Could Affect the U.S. Economy
By William W. Beach and Guinevere Nell
(WebMemo #1697)
At stake in the current debate is a shift in tax policy from emphasizing growth in the economy to emphasizing tax increases that would pay ...
November 2, 2007
Post-Halloween Jobs Report Is a Treat
By James Sherk and Rea S. Hederman, Jr.
(WebMemo #1689)
The economy continues to grow and provide jobs and higher wages for American workers.
November 1, 2007
IMF Report: U.S. Economy on Track for a Soft Landing
By Ambassador Terry Miller
(WebMemo #1686)
A positive assessment of the global economy is a reminder that economic freedom and open economies lead to sustained growth and prosperity.
October 18, 2007
Free Trade: Media Should Include Facts with Opinion Polls
By Ambassador Terry Miller
(WebMemo #1670)
Stories that focus on negative attitudes toward free trade should include information about the undeniable benefits that free trade generates.
October 5, 2007
Leaves Fall, But Not Jobs
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1657)
The latest data show that fears of recession are misplaced, but Congress must still take care to avoid upsetting the economy.
September 10, 2007
The Subprime Mortgage Crunch: Providing Tax Relief for Ex-Homeowners
By JD Foster, Ph.D.
(WebMemo #1603)
The President’s package of initiatives, while well intentioned, is misguided. A better approach would be to correct the tax treatment of cancelled mortgage debt.
September 10, 2007
The Subprime Mortgage Situation: Bailout Not the Right Solution
By Ronald D. Utt, Ph.D., and David C. John
(WebMemo #1604)
The government's response should be limited to dealing with the immediate problem and should not become a vehicle for expanded housing programs or pushing other ...
September 7, 2007
The August Jobs Report: Mixed Signals Send a Warning to Congress
By James Sherk
(WebMemo #1601)
As most Americans' lives continue to improve, Congress must refrain from enacting policies that could tip the economy into recession.
August 31, 2007
Upwards Leisure Mobility: Americans Work Less and Have More Leisure Time than Ever Before
By James Sherk
(WebMemo #1596)
While Congress focuses on income inequality, new research shows that lower-income Americans have disproportionately benefited from an increase in leisure time over the past generation. ...
August 29, 2007
Census Report Adds New Twist to Income Inequality Data
By Rea S. Hederman, Jr.
(WebMemo #1592)
With the help of a new measure for income inequality, a new report refutes the notion that "the rich are getting richer and the poor ...
August 23, 2007
Is Europe Doomed to Continued Economic Stagnation?
By Sally McNamara
(Heritage Lecture #1040)
As the European Union’s largest trading partner, with a bilateral trade and investment relationship valued at almost $3 billion dollars per day, America has enormous ...
August 1, 2007
American Competitiveness: Why Well-Intentioned Labor Regulations Can Hurt More Than Help
By Tim Kane, Ph.D.
(Heritage Lecture #1037)
Congress should not use the conventional European approach to labor markets unless it also wishes to invite European levels of unemployment. The idea of mandatory ...
July 27, 2007
Surprises in the Bullish GDP Report
By Tim Kane, Ph.D.
(WebMemo #1572)
Congress must reject protectionist measures for strong economic growth to continue for the rest of the year.
July 6, 2007
Fireworks for the June Jobs Report
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1539)
In light of strong job creation and low unemployment, Congress should make the Bush tax cuts permanent and refrain from meddling in the labor market, ...
June 26, 2007
Twelve Principles to Guide U.S. Energy Policy
By Stuart M. Butler, Ph.D., and Kim R. Holmes, Ph.D.
(Backgrounder #2046)
The best way to facilitate access to oil and gas and foster new alternatives that work for the U.S. economy while addressing homeland and national ...
June 20, 2007
Foreign Investment, Growth, and Economic Freedom: What Is OPIC’s Role?
By Tim Kane, Ph.D.
(Heritage Lecture #1033)
Empirical studies show that growth comes first, and investment follows, which implies that building the institutions for growth is the optimal development strategy. Congress should ...
June 13, 2007
Performance-Based Pay Driving Increase in Inequality
By James Sherk
(WebMemo #1505)
Much of the increase in income inequality in recent decades is due to the expanded business practice of paying workers based on their individual levels ...
June 11, 2007
Trade Deficits and Stolen Jobs: April Update
By Tim Kane, Ph.D.
(WebMemo #1496)
After years of scaring voters with stories of economic decline, protectionists are now pursuing mistaken policies to reap what they have sown.
May 31, 2007
Analyzing Economic Mobility: Measuring Inequality and Economic Mobility
By Paul Winfree
(WebMemo #1478)
There is no comprehensive measure of economic inequality and mobility, but several metrics, used together, can give a more complete picture.
May 14, 2007
Are Foreign Trade and Investment Unbalanced?
By Tim Kane, Ph.D.
(WebMemo #1455)
Recent trade data show why Congress must tread very carefully in regulating capital markets and playing politics with the international economy.
May 4, 2007
April Jobs Report Doesn't Rain on Sunny Economy
By James Sherk and Rea S. Hederman, Jr.
(WebMemo #1444)
Congress should ensure that job growth continues by rejecting policies that would put workers and employers at a disadvantage in the free market.
April 30, 2007
Promoting Stronger Economic Growth: What Public Policy Can Do to Improve Productivity
By Edward P. Lazear, Ph.D.
(Heritage Lecture #1014)
Ensuring economic growth and productivity will require keeping marginal tax rates low; encouraging investment in human capital; maintaining America’s openness to trade and investment; and ...
March 9, 2007
February Job Growth Was Not Chilly
By Rea S. Hederman, Jr.
(WebMemo #1391)
Job numbers reflect an economy that continues to grow and expand, although at a slightly cooler pace than in 2006.
February 7, 2007
Union Members, Not Minimum-Wage Earners, Benefit When the Minimum Wage Rises
By James Sherk
(WebMemo #1350)
Unions are not just being altruistic when they push to raise the minimum wage.
February 1, 2007
Jobs, Taxes, and the Goldilocks Economy
By James Sherk
(WebMemo #1336)
Congress should not impose a triple whammy of tax hikes on the American workers who are doing so much to keep the economy growing.
January 23, 2007
Who Earns the Minimum Wage? Suburban Teenagers, Not Single Parents
By James Sherk and Rea S. Hederman, Jr.
(WebMemo #1320)
A minimum wage hike is a raise for suburban teenagers, not the working poor.
January 16, 2007
The four pillars of Reaganomics
By Arthur Laffer
(WebMemo #1311)
The following is Arthur Laffer's November 13 address to members of The Heritage Foundation’s President's Club at the fall 2006 President’s Club meeting, held at ...
January 5, 2007
A Strong Year for Jobs Offers Lessons for Congress
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1301)
The new Congress should enact policies to continue the economic expansion. It should make permanent the pro-growth tax cuts of 2003 but leave the minimum ...
December 8, 2006
New Job Report Shows Wage Gains Are on Track
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1282)
Wages are up, and unemployment remains low. Good policy will help sustain this strong economy.
November 3, 2006
A Strong Pre-Election Jobs Report, Thanks to Good Economic Policy
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1245)
With unemployment near record lows, another strong jobs report refutes the economy's critics.
October 16, 2006
Shared Prosperity: Debunking Pessimistic Claims About Wages, Profits, and Wealth
By James Sherk
(Backgrounder #1978)
Americans throughout society have shared the gains from economic growth. Low- and middle-income families enjoy dramatically improved standards of living, family incomes are well above ...
October 10, 2006
Economy Remains Strong: Unemployment Is Low and Workers Are Sharing in Productivity Growth
By James Sherk
(WebMemo #1233)
A much-cited map misleads on median household incomes.
September 28, 2006
Tax Rate Reductions Strengthen the Economy, But Excessive Government Spending Threatens Long-Run Performance
By Daniel J. Mitchell, Ph.D., and Michelle L. Muccio
(Backgrounder #1975)
To enhance economic performance, Congress should make the pro-growth portions of the Bush tax cuts permanent, implement reforms to shift the Internal Revenue Code closer ...
September 8, 2006
Lies, Damn Lies, and Income Statistics: Understanding the Detroit Free Press's Income Map
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1208)
A much-cited map misleads on median household incomes.
September 1, 2006
Remember the Bush Tax Cuts This Labor Day
By James Sherk
(WebMemo #1204)
Labor Day is an opportunity to think about the policies behind our prosperity.
August 4, 2006
July Jobs Report Isn't as Hot as the Weather
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1189)
A weak jobs report for a strong economy
August 3, 2006
Who Earns the Minimum Wage--Single Parents or Suburban Teenagers?
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1186)
Raising the minimum wage will not help low-income workers or single parents.
August 3, 2006
Low-Income Workers May Be Worse Off if Congress Increases the Minimum Wage
By Rea S. Hederman, Jr., and Sam Hyman
(WebMemo #1187)
Raising the minimum wage may cause some low-income workers to receive fewer government benefits.
July 28, 2006
Minimum Wage Workers' Incomes Rise When the Minimum Wage Does Not
By James Sherk
(WebMemo #1181)
Hard work, education, and growing skills lead to higher wages. Government intervention does not.
July 28, 2006
What Is Really Happening to Government Revenues: Long-Run Forecasts Show Sharp Rise in Tax Burden
By Daniel J. Mitchell, Ph.D., and Stuart M. Butler, Ph.D.
(Backgrounder #1957)
Instead of raising taxes even faster than projected in an effort to catch up with out-of-control spending, the wise course is to tackle the explosion ...
July 25, 2006
Raising the Minimum Wage Hurts Vulnerable Workers' Job Prospects Without Reducing Poverty
By James Sherk
(WebMemo #1176)
Intended to reduce poverty, the minimum wage encourages teenagers to drop out of school and reduces low-income workers' future job prospects and earnings.
July 7, 2006
A Strong Jobs Report Points the Way to Better Policy
By Rea S. Hederman, Jr., and James Sherk
(WebMemo #1146)
Surveys show that many Americans feel anxious about their economic prospects. Often they hear stories about weak job growth or stagnant earnings that seem to ...
June 2, 2006
U.S. Economy Strong Despite High Oil Prices
By James Sherk and Samuel Hyman
(WebMemo #1105)
Many Americans worry that that high energy costs combined with rising interest rates will plunge the U.S. economy into economic doldrums. The latest data, however, ...
May 17, 2006
A Victory for Taxpayers and the Economy
By Tracy L. Foertsch, Ph.D.
(WebMemo #1082)
This afternoon, President George W. Bush signed the Tax Increase Prevention and Reconciliation Act of 2005 (H.R. 4297), which Congress passed last week.
May 8, 2006
Economy Will Benefit If Lawmakers Extend 15 Percent Tax Rate on Dividends and Capital Gains
By Daniel J. Mitchell, Ph.D.
(WebMemo #1066)
Lower tax rates on dividends and capital gains have proven successful.
May 5, 2006
Job Numbers Show a Strong Economic Recovery
By Rea S. Hederman, Jr., James Sherk, and Samuel Hyman
(WebMemo #1063)
The current economic recovery is benefiting average Americans.
February 3, 2006
Surging Payrolls, Falling Unemployment, and the Shifting Policy Debate
By Tim Kane, Ph.D.
(WebMemo #985)
Strong employment data may change the tenor of the debate over issues from tax cuts to health care policy.
January 6, 2006
The Silver Lining of 2005: Jobs Boom Should Protect Tax Reform
By Tim Kane, Ph.D.
(WebMemo #958)
Why 2005 was a good year, economically speaking.
January 5, 2006
Make the Bush Tax Cuts Permanent
By William W. Beach and Rea S. Hederman, Jr.
(WebMemo #956)
If the tax cuts of 2001 and 2003 are allowed to expire, millions of working families will see their economic prospects dim.
December 2, 2005
The November Jobs Report: An Early Christmas Present
By Rea S. Hederman, Jr., and William W. Beach
(WebMemo #929)
Strong jobs numbers show the importance of extending expiring provisions of the 2003 tax cuts.
November 15, 2005
Windfall Profits of Doom
By Ben Lieberman
(WebMemo #918)
Criticizing big oil companies and their big profits is very popular in Congress right now. Even some normally free-market Republicans have tried to outdo the ...
October 7, 2005
Hurricane Job Losses: How Severe?
By Tim Kane, Ph.D.
(WebMemo #876)
How bad was the economic damage from Katrina? Not so bad, really.
September 19, 2005
Repealing Tax Cuts to Pay For Katrina Recovery Would Cost the Gulf Coast, and the Nation, Jobs
By Rea S. Hederman, Jr., Tim Kane, Ph.D., and Scott Moody
(WebMemo #849)
Congress should prioritize and cut spending, instead.
September 2, 2005
Labor Day Review: In Katrina's Wake
By Tim Kane, Ph.D.
(WebMemo #828)
A recap of this year's economic and labor milestones.
August 5, 2005
Revised! Job Creation Better Than Ever
By William W. Beach and Tim Kane, Ph.D.
(WebMemo #815)
The new job number continue to impress--including big revisi
