By Area of Research:
Rigorous Research is Needed to Eventually Inform Better Economic Policy, Regardless of Political Realities
June 20, 2013 | By Andrew Fieldhouse | BlogIn his latest Bloomberg column, Ezra Klein has a nice feature of my recent paper on income inequality growth in the United States and the role of tax policy.
June 14, 2013 | By Andrew Fieldhouse | BlogSince the late 1970s, the United States has experienced a sharp divergence in the distribution and growth of market-based income, with gains overwhelmingly skewed toward the very top of the income distribution and away from the bottom.
Rising Income Inequality and the Role of Shifting Market-Income Distribution, Tax Burdens, and Tax Rates
June 14, 2013 | By Andrew Fieldhouse | Issue Brief
Increasing top marginal tax rates could yield potentially large results in slowing the growth of income inequality—and do so without substantially reducing productive economic activity.
May 31, 2013 | By Andrew Fieldhouse | BlogPiggybacking on my colleague Josh Bivens’ recent post refuting claims that the economy is “holding up surprisingly well,” it seems some in the press corps could benefit from a primer on economic expansion versus economic recovery.
May 29, 2013 | By Andrew Fieldhouse | BlogPresident Obama is reportedly planning to nominate economist Jason Furman to replace Alan Krueger as the head of the Council of Economic Advisers.
Broadening the tax base and raising top rates are complements, not substitutes: 1986-style tax reform is a flawed template
May 15, 2013 | By Andrew Fieldhouse | Issue BriefEconomic research and trends over the past quarter-century make clear that the “broaden the base and lower rates” blueprint for tax reform is flawed. The right mantra should be “broaden the base and raise top rates.”
May 1, 2013 | By Andrew Fieldhouse | BlogAs Congress pursues comprehensive tax reform, policymakers have made numerous references the 1986 Tax Reform Act, which has been the principle framework for overhaul to date.
April 30, 2013 | By Andrew Fieldhouse | BlogLast week, The Century Foundation hosted a Twitter chat forum in which Mike Konczal of the Roosevelt Institute, TCF fellow Mark Thoma and I discussed the Reinhart and Rogoff kerfuffle and its implications for the policy debate over austerity (here’s the Storified “transcript”).
April 18, 2013 | By Andrew Fieldhouse | Economic SnapshotAmerican workers will see their taxes rise in 2013 compared to 2012. For households making less than $200,000 (96 percent of all households), essentially the entire increase (98 percent) in taxes this year will result from the end of the payroll tax cut, which was enacted for 2011-2012 to boost consumption and demand.
April 15, 2013 | By Andrew Fieldhouse | BlogAround the enactment of the lame-duck budget deal, which permanently extended the Bush-era tax cuts and most expiring income tax provisions for roughly 99 percent of households, policymakers were claiming to be preventing the largest tax hike in American history.
April 15, 2013 | By Andrew Fieldhouse | BlogA version of this post originally appeared at the Fiscal Times. Over at Forbes, Tim Worstall didn’t take kindly to an op-ed I authored for The Fiscal Times pointing out that research by two economists, Peter Diamond and Emmanuel Saez, indicates that individual income tax rates are currently well below their revenue-maximizing rates.
April 12, 2013 | By Andrew Fieldhouse | BlogPresident Barack Obama’s fiscal year 2014 budget request, released Wednesday, is a more centrist blueprint than his fiscal 2013 request—which was the most progressive and ambitious with regards to job creation and taxation to date.
April 11, 2013 | By Andrew Fieldhouse | CommentaryThis piece originally appeared in The Fiscal Times. The U.S. economy is mired in a depression. Output is running $975 billion, or 5.8 percent, below its noninflationary potential as the result of a huge demand shortfall in the aftermath of the housing bubble’s implosion.
April 4, 2013 | By Andrew Fieldhouse | BlogIf the Laffer curve hypothesis is the first commandment of the modern conservative movement, then its economist namesake, Arthur Laffer, is its chief apostle.
A review of the economic research on the effects of raising ordinary income tax rates: Higher revenue, unchanged growth, and uncertain but potentially large reductions in the growth of inequality
April 2, 2013 | By Andrew Fieldhouse | Issue BriefRecent research indicates that increasing top marginal tax rates can raise substantial sums of revenue and potentially dampen the rise of income inequality without unduly restraining economic growth.
March 26, 2013 | By Andrew Fieldhouse | BlogSenate Budget Committee Chairman Patty Murray (D-WA) introduced, and the Senate passed, a Senate Democratic FY2014 budget resolution, which would purportedly place the public debt ratio on a more-than-sustainable trajectory down to 70.4 percent of GDP by fiscal 2023.
March 18, 2013 | By Andrew Fieldhouse | BlogHouse Budget Committee Ranking Member Chris Van Hollen (D-MD) has introduced the House Democratic FY2014 budget alternative, which would lessen the near-term economic drags left in place by the lame-duck budget deal.
March 12, 2013 | By Andrew Fieldhouse | BlogEarlier today, House Budget Committee Chairman Paul Ryan (R-Wis) released his Fiscal Year 2014 House Budget Resolution, The Path to Prosperity: A Responsible, Balanced Budget.
March 7, 2013 | By Andrew Fieldhouse | CommentaryThis article originally appeared in The Fiscal Times. More than five years after the start of the Great Recession in December 2007, the U.S.
February 28, 2013 | By Andrew Fieldhouse | BlogAs a follow-up to my earlier blog post on the responsibility for and consequences of sequestration, I want to underscore that the entirety of the Budget Control Act (the resolution to the 2011 debt ceiling crisis, which created the sequester) was about shrinking government, not fiscal responsibility.
February 28, 2013 | By Andrew Fieldhouse | BlogAs “sequestration” spending cuts seem increasingly likely to take effect tomorrow, and the blame game escalates over responsibility for the fallout, some incorrect revisionist history as well as (silly) pox-on-both-houses punditry merit comment.
February 5, 2013 | By Andrew Fieldhouse | BlogCongressional Progressive Caucus (CPC) Co-Chairs Rep. Keith Ellison (D-MN) and Rep. Raúl Grijalva (D-AZ) have introduced the Balancing Act of 2013 (H.R.
January 24, 2013 | By Andrew Fieldhouse | BlogVia Ezra Klein comes a must-read leaked memo from Senate Budget Committee Chairwoman Patty Murray (D-Wash.) to Senate Democrats ahead of fashioning a Senate Budget Resolution.
January 3, 2013 | By Andrew Fieldhouse | BlogYesterday, my colleague Josh Bivens outlined the contours of this weekend’s 11th hour budget deal, concluding that Congress mostly monkeyed around with upper-income taxes—a politically contentious “fiscal cliff” component, but the least economically significant—leaving large swathes of scheduled fiscal restraint in place (or merely delayed a few months).