PUBLICATIONS BY Karen Campbell, Ph.D.
Research
2009 Research
November 20, 2009
High-Income Surtax: How Not to Pay for Health Care
By Karen A. Campbell, Ph.D.
(WebMemo #2707)
Congress is proposing a surtax on high-income individuals to help pay for health care reform that would burden the economy and slow its recovery from the recession.
October 01, 2009
The Economics of Extending Unemployment Benefits
By Karen A. Campbell, Ph.D.
(Testimony #9999)
A tool meant as a temporary safety net for workers who find themselves involuntarily unemployed is too blunt to address the needs of individuals who find themselves unemployed for longer durations during the next years of economic recovery.
September 23, 2009
Current Health Insurance Reform Proposals vs. Real Reform and Economic Growth
By Karen A. Campbell
(Backgrounder #2321)
Current proposals for health care reform would exacerbate existing problems in the U.S. health care system and weaken the economy. In particular, the proposed surtax on high-income individuals would impose deadweight losses on the economy, depressing employment and slowing economic growth. True reform would change outdated rules and regulations to give consumers greater choice and autonomy in their health care spending. Such reforms would lead to a more efficient and more effective health care system without harming the economy.
September 17, 2009
The Economic Role of Government: Focus on Stability, Not Spending
By Karen A. Campbell, Ph.D.
(Backgrounder #2316)
Is there a role for government in the economy? Yes, says Heritage analyst Karen Campbell--but the government must focus on maintaining economic stability. Fiscal responsibility is an important part of that stability. Government debt can quickly become a burden on the economy and weaken its foundations. Sound macroeconomic policies enhance the credibility of the government and strengthen the political institutions. This credibility is vital for economic stability and Americans' long-term investment decisions that allow the U.S. economy to flourish.
August 19, 2009
Impact of the Waxman–Markey Climate Change Legislation on the States
By David Kreutzer, Ph.D., Karen Campbell, Ph.D., William W. Beach, Ben Lieberman, and Nicolas D. Loris
(WebMemo #2585)
The 1,500-page cap-and-trade climate legislation, also known as Waxman-Markey, passed by a narrow margin late in the day on June 26. Cap and trade is nothing more than a massive energy tax that will raise prices and destroy jobs, and no state can escape the economic perils it causes.
August 06, 2009
The Economic Consequences of Waxman-Markey: An Analysis of the American Clean Energy and Security Act of 2009
By David W. Kreutzer, Ph.D., Karen A. Campbell, Ph.D., William W. Beach, Ben Lieberman, and Nicolas D. Loris
(Center for Data Analysis Report #09-04)
The Waxman-Markey bill proposes a new national tax of historic proportions. Though levied directly on carbon-based energy, the tax's impact spreads through the economy, increasing prices, reducing income, destroying jobs, and significantly expanding the national debt. It seeks to "level the playing field" by making a more competitive player weaker rather than ensuring an environment where less competitive players can become stronger.
July 27, 2009
The PERI Report on Clean Energy: The Wrong Question and a Misleading Result
By Karen A. Campbell, Ph.D.
(Backgrounder #2303)
The PERI report does not estimate the economic impact of any policy currently being debated, and the job number finding is not the overall impact to the U.S. economy. The report studies the effect of a hypothetical large investment dropped into clean energy industries versus the effect of the same drop into carbon-based energy industries. The methodology used by the authors is deeply flawed.
June 25, 2009
Waxman-Markey Global Warming Bill: Economic Impact by Congressional District
By Karen A. Campbell, Ph.D., and David W. Kreutzer, Ph.D.
(WebMemo #2504)
It has become quite clear over the past several months that placing a cap on carbon emission will have major implications for the American economy and families.
June 24, 2009
CBO Grossly Underestimates Cost of Cap and Trade
By David Kreutzer, Ph.D., Karen Campbell, Ph.D., and Nicolas D. Loris
(WebMemo #2503)
The CBO analysis of Waxman-Markey fails to take into account all the adverse effects that will ripple through the U.S. economy if cap and trade becomes law.
June 09, 2009
Response to the NRDC Critique of The Heritage Foundation's Analysis of the Waxman-Markey Bill
By David W. Kreutzer, Ph.D., Karen A. Campbell, Ph.D., William W. Beach, and Ben Lieberman
(Center for Data Analysis Report #09-03)
Recently, Dr. Laurie T. Johnson of the Natural Resources Defense Council (NRDC) critiqued The Heritage Foundation's analysis of the Waxman–Markey bill (H.R. 2454, "American Clean Energy and Security Act of 2009"). The egregious errors that she commits in her critique cry out for correction.
May 22, 2009
Killing the Entrepreneurial Spirit: Government Is Not a Good Investor
By Karen A. Campbell Ph.D.
(WebMemo #2455)
President Barack Obama calls his stimulus bill and proposed budget an "investment" plan. But this plan is based on the faulty assumption that only government is able and responsible enough to invest at this time.
May 18, 2009
Son of Waxman-Markey: More Politics Makes for a More Costly Bill
By William W. Beach, David W. Kreutzer, Ph.D., Karen A. Campbell, Ph.D., and Ben Lieberman
(WebMemo #2450)
The Waxman-Markey bill is a massive energy tax in disguise that promises job losses, income cuts, and a sharp left turn toward big government.
May 13, 2009
The Economic Impact of Waxman-Markey
By William W. Beach, David W. Kreutzer, Ph.D., Karen A. Campbell, Ph.D., and Ben Lieberman
(WebMemo #2438)
The Waxman-Markey bill would have little impact on world temperatures, it is a massive energy tax in disguise that promises job losses, income cuts, and a sharp left turn toward big government.
April 01, 2009
Economic Analysis of the House Republican Budget Alternative (H.R. 85)
By Karen A. Campbell, Ph.D.
(White Paper #9999)
On April 1, 2009, Congressman Paul Ryan (R-WI), the ranking Republican on the House Budget Committee, introduced the House Republican Budget Alternative to budget initiatives of the House Democrats and President Barack Obama.
March 13, 2009
Time for a Real Change: Repeal the Corporate Income Tax
By Karen A. Campbell, Ph.D.
(Backgrounder #2248)
America's corporate income tax rate is one of the world's highest and imposes indirect costs in the form of reduced investment, lower wages, lower productivity, higher consumer prices, and less demand for workers. Repealing the corporate income tax would increase employment, wages, and equity values and would also attract global companies to invest and create jobs in the United States.
February 03, 2009
Sustainable Economic Stimulus: Repeal Capital Gains and Dividend Taxes
By Karen A. Campbell and Guinevere Nell
(WebMemo #2263)
Although policymakers are currently discussing an $825 billion economic stimulus package, completely eliminating capital gains and dividend taxes would be a cheaper and more effective means of sparking economic renewal.
February 03, 2009
An Earmark by Any Other Name Is Still an Earmark
By Karen Campbell, Ph.D.
(WebMemo #2264)
An analysis of the "The American Recovery and Reinvestment Act of 2009" shows that it fails to deliver on the economic promises of its authors, does not help the economy recover, and--worst of all--decreases investment rather than stimulating reinvestment.
January 28, 2009
Economic Stimulus Pushed by Flawed Jobs Analysis
By Curtis Dubay, Karen Campbell, Ph.D., and Paul Winfree
(WebMemo #2252)
The Obama Administration and Members of Congress are relying on a flawed report as evidence of the effectiveness of the stimulus plan. The report should not be trusted. It is based on faulty assumptions that even the authors admit create significant margins of error.
2008 Research
December 08, 2008
Bankruptcy of Detroit’s Big Three Automobile Companies: New Economic Impact Estimates
By Karen A. Campbell, Ph.D., and Paul L. Winfree
(WebMemo #2160)
Ford, General Motors, and Chrysler rely heavily on a study by the Center for Automotive Research in making their case for a financial bailout. This report claims that the simultaneous failure of these three companies would result in a loss of 3.3 million jobs nationally in the same year as the company shutdowns. However, this estimate is based on highly dubious assumptions.
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 model shows the current 13-week extended benefits program increases GDP by only $0.25 per dollar spent. Increasing the duration of UI benefits to 46 weeks would hurt the economy, reducing the effect on GDP to $0.17
November 10, 2008
EPA-Mandated CO2 Reductions Will Lower U.S. Industries' Return on Equity
By Karen A. Campbell, Ph.D.
(Center for Data Analysis Report #08-12)
The global warming policy debate is increasing the calls for reduction of carbon-dioxide and other greenhouse-gas emissions. The proposal to allow the EPA to broadly regulate emissions under the Clean Air Act will impose higher costs on U.S. industries, leading to slower economic growth and lower employment. This will cause decreased productivity of U.S. industries and lower returns on equity.
November 10, 2008
The Global Response to a Terror-Generated Energy Crisis
By William W. Beach, James Jay Carafano, Ph.D., Ariel Cohen, Ph.D., David W. Kreutzer, Ph.D., Karen A. Campbell, Ph.D., and Hopper Smith
(Center for Data Analysis Report #08-11)
In June 2008, The Heritage Foundation invited energy scholars and policy experts to participate in a computer simulation and gaming exercise assessing the economic effects of a global petroleum energy crisis. This exercise suggests reliance on market forces and coordinated security activities did much to help restore the confidence of markets and consumers.
October 29, 2008
CO2–Emission Cuts: The Economic Costs of the EPA's ANPR Regulations
By David W. Kreutzer, Ph.D., and Karen A. Campbell, Ph.D.
(Center for Data Analysis Report #08-10)
The EPA's Advance Notice of Proposed Rulemaking (ANPR) proposes an unprecedented expansion of federal ability to regulate CO2 emissions. Its limits on CO2 emissions would impose significant costs on virtually the entire American economy. Even under a fairly optimistic set of assumptions, the economic impact of the ANPR is likely to be serious for the job market, household budgets, and the economy overall.
October 15, 2008
The Obama and McCain Tax Plans: How Do They Compare?
By William Beach, Karen Campbell, Ph.D., Rea S. Hederman, Jr., and Guinevere Nell
(Center for Data Analysis Report #08-09)
The results in this paper are based on the specific tax policy proposals of Senator Barack Obama and Senator John McCain. The economy improves under each plan as compared to the CBO baseline that assumes that all of the Bush tax cuts disappear. While both candidates plan to reduce taxes compared to this scenario and each achieves his stated goal, their approaches are quite different.
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 taxes and regulations that artificially make oil scarcer, the government can implement policies that would allow for more oil production. The government can also encourage innovations in energy supply by keeping regulatory burdens to a minimum.
November 20, 2009
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