Income Tax Withholding and Government Growth

Prior to World War II most Americans paid no income tax. The standard deduction was high enough that people who had factory or office jobs didn’t earn enough income to owe any income tax. That changed when the standard deduction was lowered in 1940 (and again in 1941 and 1942) to raise revenues to finance…

The Measurement and Importance of Economic Freedom

Since the initial publication of the Economic Freedom of the World report in 1996, numerous scholarly studies have used the data to examine the impact of economic freedom on investment, economic growth, income levels, and poverty rates. Virtually without exception, these studies have found that countries with institutions and policies more consistent with economic freedom have higher investment rates, more rapid economic growth, higher income levels, and a more rapid reduction in poverty rates.

Common Sense Economics

This post highlights some of the issues discussed during Policy Pub, an event hosted by the College of Social Sciences and Public Policy. Listen to the Pub here. The third edition of Common Sense Economics: What Everyone Should Know About Wealth and Prosperity (St. Martin’s Press, 2016) is widely available in print and electronic versions. …