The Office of Management and Budget recently released final budget numbers for the 2006 fiscal year (FY2006), which began October 1, 2005 and ended September 30, 2006. These end-of-year numbers are particularly noteworthy because they show pro-growth tax rate reductions, such as those made in 2003 tax legislation, do boost growth and thus expand taxable…

In a stunning setback, Sweden's Social Democrats were ousted from power in Sunday's election after receiving their lowest share of the vote since 1914. This result is somewhat surprising since Sweden, at least by European standards, is experiencing decent economic growth and modest levels of unemployment.   A closer examination, however, reveals that the famous…

House and Senate negotiators are hammering out details of a tax bill that would extend the 15 percent tax rate on dividends and capital gains for two years. Failure to reach an agreement would result in a major tax increase beginning January 1, 2009, when the capital gains tax rate would climb to 20…

President George W. Bush's tax agenda is largely focused on making the 2001 and 2003 tax cuts permanent. This is sound policy. The bulk of those tax cuts are pro-growth initiatives that have lowered marginal tax rates on work, saving, and investment. These include: Lower marginal income tax rates: The top tax rate has…

President George W. Bush last night asked Congress to make the expiring tax cuts permanent. This is the good news. Tax cuts enacted in Bush's first term, especially the marginal tax rate reductions on work, saving, and investment that were part of the 2003 tax cuts, have played a key role in boosting growth…