Growth still drives worker pay
Making workers' labor more productive, through capital investment of various kinds, remains a better way to improve their well-being than hiking regulations or redistributing income.
Obviously infrastructure and education are important. This is an argument for spending more wisely on them, rather than just jacking up their cost.
In Northern European countries, governments tend to have extensive safety-net programs. But they also tend to maintain pro-growth tax and regulatory policies.
Job creation and income gains flow from productivity, which in turn flows from effective investment in facilities, machinery, technology, and know-how.
What our economy needs now is more capitalism — by which I mean more risk-takers willing to invest their private capital in North Carolina.
Does state tax policy affect state economic growth? Fiscal conservatives tend to say yes. Fiscal liberals tend to say no.
The key to unlocking the tax-reform door is to recognize that it isn’t really all about marginal tax rates.
Now that other countries are reforming the tax codes, our incoherent and capricious corporate tax is becoming increasingly costly.
Some analysts think that Americans are afflicted by 'affluenza,' an insatiable spiral of spending focused on keeping up with the Joneses. Evidence suggests, however, that even very low-income individuals can accomplish their financial objectives. Going for broke is neither a necessary nor an inevitable strategy.
It is apparent that North Carolina's tax burden is a major issue in the 2004 elections. Here are some basic principles policymakers should follow in reforming and reducing taxes.