The Conversation Mon 01. 22. 2018.

Amid Shutdown, House GOP Shows Intense Interest In Trump Dossier Memo
Byron York, Washington Examiner

House Intel Committee Officially Begins Process To #ReleaseTheMemo
Joshua Caplan, Gateway Pundit

Schumer Previews Life For Trump If Democrats Retake Congress
The Wall Street Journal

Schumer In 2013: If Dems Shut Down Government Over Immigration That Would Be ‘Politics Of Idiocy’ [Watch]
John Sexton, Hot Air

Women’s March -- Are We Watching A Movement Or Just Group Therapy For Trump Haters? [Watch]
Jen Kerns, Fox News

The Obama Administration’s ‘Brazen Plot To Exonerate Hillary Clinton’ Starting To Leak Out, According To Former Fed Prosecutor [Watch]
Ginni Thomas, Daily Caller

FMC Barometers

FreeMarket Central

Numbers as of last Friday close.

[Total = Federal, state & local
Source: usgovernmentspending.com]

FreeMarket Central What is Gross Output?


Why are these numbers important?

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.07%
    FreeMarket Central Shadow Stats: 21.7%
  • Inflation:
    FreeMarket Central December Year-to-Year: 2.20% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

Wisdom


Who Really Pays Corporate Taxes?

Corporations do not pay taxes, they collect them, passing the burden to consumers as a cost of production. And corporate taxation is a feast of rent-seeking - a cornucopia of credits, exemptions and other subsidies conferred by the political class on favored, and grateful, corporations.

-- George Will,

Calendar


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In Search Of History

The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

-- Daniel J. Mitchell,