SavageOrangeJug
Well-Known Member
- Joined
- Mar 20, 2007
- Messages
- 3,569
- Likes
- 6
Hundreds of economists (including Nobel Prize winners Gary Becker, James Buchanan, Robert Mundell, Edward Prescott, and Vernon Smith) have signed letters opposing Barack Obama's economic and tax plans (here, here, and here):
We are equally concerned with his proposals to increase tax rates on labor income and investment. His dividend and capital gains tax increases would reduce investment and cut into the savings of millions of Americans. His proposals to increase income and payroll tax rates would discourage the formation and expansion of small businesses and reduce employment and take-home pay, as would his mandates on firms to provide expensive health insurance.
After hearing such economic criticism of his proposals, Barack Obama has apparently suggested to some people that he might postpone his tax increases, perhaps to 2010. But it is a mistake to think that postponing such tax increases would prevent their harmful effect on the economy today. The prospect of such tax rate increases in 2010 is already a drag on the economy. Businesses considering whether to hire workers today and expand their operations have time horizons longer than a year or two, so the prospect of higher taxes starting in 2009 or 2010 reduces hiring and investment in 2008.
The 535 Signatories
Abrams, Burton University of Delaware
Adams, James D. Rensselaer Polytechnic Institute
Adie, Douglas K. Ohio University
Adkins, Lee C. Oklahoma State University
Agnello, Richard University of Delaware
Albrecht, William University of Iowa
Alexandrakis, Constantine University of Massachusetts at Dartmouth
Alpert, William University of Connecticut
Alvarez, Fernando E. University of Chicago
Andron, Geoffrey T. Austin Community College
Angell, Wayne Former Fed Governor
Ankrom, Jeff Wittenberg University (Ohio)
Applegate, Michael Oklahoma State University
Arias, J. J. Georgia College & State University
Averitt, George R. Purdue University North Central
Back, Kerry Texas A&M University
Baier, Scott Clemson University
Baird, Charles California State University, East Bay
Ballantyne, A. Paul University of Colorado at Colorado Springs
Barch, David J. Webster University
Basciano, Peter M. Augusta State University
Baumel, C. Phillip Iowa State University
Beales, Howard George Washington University
Beck, Stacie E. University of Delaware
Becker, Gary University of Chicago
Bellante, Donald University of South Florida
Benjamin, Daniel K. Clemson University
Bernstein, Richard E. Temple University
Berry, Charles A. University of Cincinnati
Bethune, John J. Barton College
Bhagat, Sanjai University of Colorado
Biggs, Andrew G. American Enterprise Institute
Bise, Robert G. Orange Coast College
Block, Michael K. University of Arizona
Blomberg, Brock Claremont McKenna College
Booth, Donald Chapman University
Borden, Karl J. University of Nebraska
Bordo, Michael Rutgers University
Borts, George H. Brown University
Boskin, Michael Stanford University
Boss Jr., Edward H. none
Brady, Gordon Vienna, VA
Brandt III, Daniel P. Washington, D.C.
Brannon, Ike Department of the Treasury
Brat, David A. Randolph-Macon College
Brick, Ivan Rutgers University
Brown, David P. University of Wisconsin-Madison
Brown Jr., George F. Blue Canyon Partners, Inc.
Brown, James N. Rice University
Brown, Jeff University of Illinois at Urbana-Champaign
Browning, Edgar K. Texas A&M University
Brucker, Eric Widener University
Brunner, Lawrence Republican
Brusuelas, Joseph Merk Investments
Bryson, Phillip J. Brigham Young University
Brzeski, Andrzej University of California,Davis
Buchanan, James George Mason University
Buchholz, Todd Two Oceans Management
Burdekin, Richard Claremont McKenna College
Burkhauser, Richard V. Cornell University
Burnham, James B. Duquesne University
Busch, Andrew B. BMO Capital Markets
Butkiewicz, James L. University of Delaware
Butler, Henry N. Northwestern University School of Law
Calabria, Mark United States Senate
Capps Jr., Oral Texas A&M University
Carey, Robert T. Clemson University
Carr, Darcy Coastal Carolina University
Carrington, Samantha California State University, Los Angeles
Carter, James Vienna, VA
Castanias, Richard University of California, Davis
Cebula, Richard J. Armstrong Atlantic State University
Chance, Don Louisiana State University
Chatfield, Robert E. University of Nevada, Las Vegas
Chiswick, Barry R. University of Illinois at Chicago
Chowdhry, Bhagwan UCLA
Cima, Lawrence R. John Carroll University
Clarida, Richard Columbia University
Clark, Candice Economic consultant
Clark, J. R. The University of Tennessee
Clark, Jim Wichita State University
Clarkson, Kenneth W. University of Miami
Coats, R. Morris Nicholls State University
Coats, Warren IMF, retired
Cochran, John P. Metropolitan State College of Denver
Cogan, John Hoover Institution
Cohen, Lloyd George Mason University
Colella, Francis Simpson College
Collier, Boyd D. Tarleton State University
Colwell, Peter F. University of Illinois Urbana-Champaign
Connolly, Michael University of Miami
We are equally concerned with his proposals to increase tax rates on labor income and investment. His dividend and capital gains tax increases would reduce investment and cut into the savings of millions of Americans. His proposals to increase income and payroll tax rates would discourage the formation and expansion of small businesses and reduce employment and take-home pay, as would his mandates on firms to provide expensive health insurance.
After hearing such economic criticism of his proposals, Barack Obama has apparently suggested to some people that he might postpone his tax increases, perhaps to 2010. But it is a mistake to think that postponing such tax increases would prevent their harmful effect on the economy today. The prospect of such tax rate increases in 2010 is already a drag on the economy. Businesses considering whether to hire workers today and expand their operations have time horizons longer than a year or two, so the prospect of higher taxes starting in 2009 or 2010 reduces hiring and investment in 2008.
The 535 Signatories
Abrams, Burton University of Delaware
Adams, James D. Rensselaer Polytechnic Institute
Adie, Douglas K. Ohio University
Adkins, Lee C. Oklahoma State University
Agnello, Richard University of Delaware
Albrecht, William University of Iowa
Alexandrakis, Constantine University of Massachusetts at Dartmouth
Alpert, William University of Connecticut
Alvarez, Fernando E. University of Chicago
Andron, Geoffrey T. Austin Community College
Angell, Wayne Former Fed Governor
Ankrom, Jeff Wittenberg University (Ohio)
Applegate, Michael Oklahoma State University
Arias, J. J. Georgia College & State University
Averitt, George R. Purdue University North Central
Back, Kerry Texas A&M University
Baier, Scott Clemson University
Baird, Charles California State University, East Bay
Ballantyne, A. Paul University of Colorado at Colorado Springs
Barch, David J. Webster University
Basciano, Peter M. Augusta State University
Baumel, C. Phillip Iowa State University
Beales, Howard George Washington University
Beck, Stacie E. University of Delaware
Becker, Gary University of Chicago
Bellante, Donald University of South Florida
Benjamin, Daniel K. Clemson University
Bernstein, Richard E. Temple University
Berry, Charles A. University of Cincinnati
Bethune, John J. Barton College
Bhagat, Sanjai University of Colorado
Biggs, Andrew G. American Enterprise Institute
Bise, Robert G. Orange Coast College
Block, Michael K. University of Arizona
Blomberg, Brock Claremont McKenna College
Booth, Donald Chapman University
Borden, Karl J. University of Nebraska
Bordo, Michael Rutgers University
Borts, George H. Brown University
Boskin, Michael Stanford University
Boss Jr., Edward H. none
Brady, Gordon Vienna, VA
Brandt III, Daniel P. Washington, D.C.
Brannon, Ike Department of the Treasury
Brat, David A. Randolph-Macon College
Brick, Ivan Rutgers University
Brown, David P. University of Wisconsin-Madison
Brown Jr., George F. Blue Canyon Partners, Inc.
Brown, James N. Rice University
Brown, Jeff University of Illinois at Urbana-Champaign
Browning, Edgar K. Texas A&M University
Brucker, Eric Widener University
Brunner, Lawrence Republican
Brusuelas, Joseph Merk Investments
Bryson, Phillip J. Brigham Young University
Brzeski, Andrzej University of California,Davis
Buchanan, James George Mason University
Buchholz, Todd Two Oceans Management
Burdekin, Richard Claremont McKenna College
Burkhauser, Richard V. Cornell University
Burnham, James B. Duquesne University
Busch, Andrew B. BMO Capital Markets
Butkiewicz, James L. University of Delaware
Butler, Henry N. Northwestern University School of Law
Calabria, Mark United States Senate
Capps Jr., Oral Texas A&M University
Carey, Robert T. Clemson University
Carr, Darcy Coastal Carolina University
Carrington, Samantha California State University, Los Angeles
Carter, James Vienna, VA
Castanias, Richard University of California, Davis
Cebula, Richard J. Armstrong Atlantic State University
Chance, Don Louisiana State University
Chatfield, Robert E. University of Nevada, Las Vegas
Chiswick, Barry R. University of Illinois at Chicago
Chowdhry, Bhagwan UCLA
Cima, Lawrence R. John Carroll University
Clarida, Richard Columbia University
Clark, Candice Economic consultant
Clark, J. R. The University of Tennessee
Clark, Jim Wichita State University
Clarkson, Kenneth W. University of Miami
Coats, R. Morris Nicholls State University
Coats, Warren IMF, retired
Cochran, John P. Metropolitan State College of Denver
Cogan, John Hoover Institution
Cohen, Lloyd George Mason University
Colella, Francis Simpson College
Collier, Boyd D. Tarleton State University
Colwell, Peter F. University of Illinois Urbana-Champaign
Connolly, Michael University of Miami
Last edited: