In the waning days of the 2022 midterm cycle, Republicans have an opportunity to deliver a winning message: Americans should not be taxed on inflation. This used to be unbiased wisdom. After the GOP took up the cause in response to inflation in the 1970s, leaders in both parties agreed for years that the government … Read more
As fun as it may be for outsiders to stare at the political chaos engulfing Britain, Prime Minister Liz Truss’ departure on Thursday is a sideshow. The bigger problem is that recent events in Britain are an alarming vision of a fate that potentially awaits us all in developed economies. The conventional view of Ms … Read more
British Prime Minister Liz Truss attends a press conference in London on October 14. Photo: POOL/REUTERS Ensuring economic vitality is a fundamental responsibility of any government leader. Liz Truss, Britain’s new prime minister, was on the right track with a budget proposal rooted in limited spending and tax cuts – two essential elements for economic … Read more
“Our trade policy rests firmly on the foundation of free and open markets,” President Ronald Reagan said in 1986. Thirty years later, President Donald Trump tweeted, “The word TARIFF is truly a beautiful word.” His administration—to cheers from parts of the GOP—imposed tariffs of as much as 50% on steel, aluminum and a range of … Read more
Chancellor of the Exchequer Kwasi Kwarteng speaks during the government’s growth plan statement in the House of Commons, London, on September 23. Photo: JESSICA TAYLOR/HOUSE OF COMMONS/via REUTERS It’s a bird! It’s a plane! No, this is a real economic debate in a Western democracy. Prime Minister Liz Truss and Chancellor Kwasi Kwarteng shocked British … Read more
Voters rejected his bad behavior. His policies on taxes and regulation were largely successful pre-pandemic.