Taxes

A Brief History of the Gold Standard

Congress established a mint in 1792 and defined the dollar in terms of a specific weight in both gold and silver. This put the new republic on a bimetallic standard, common at the time. Initially, the…

The Fed's Mandate

When the Federal Reserve was created in 1913, Congress did not give it a monetary policy goal as we understand that term today. The Fed's monetary policy role evolved gradually, and congressional mand…

Taxing Tobacco by Risk

Excise taxes are fees levied on specific products like cigarettes, beer and gasoline. Unlike broad-based taxes, such as general sales or income taxes, excises are often paid by a narrow subset of the…

Temporary Extension of Tax Relief for 2011 and 2012
Make Taxes Visible

Here is an idea that should receive support from just about everyone: the taxpayer savings account (TSA). Instead of the current withholding system, amounts withheld from your paycheck would go into a…

The Federal Reserve's Quantitative Easing: Questions and Answers

Recently, the Federal Reserve announced plans to resume monetary easing by purchasing $600 billion in U.S. Treasury bonds by June 2011. Bonds purchases give the sellers additional funds in their banks…

A Progrowth Agenda for Congress

Uncertainty about future public policies coming out of Washington, D.C., and the prospect of huge tax increases is stifling potential recovery and job creation. Business owners do not know what capita…

The Case for Permanent Expensing

Investment spending has been sluggish in spite of record low interest rates and enormous levels of excess reserves in the banking system. Banks have been criticized for not lending enough, but the rea…