Word: economists
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Dates: during 1970-1979
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...rolls long? One answer may be that Government programs and the tax system work to reduce the incentive for the deprived to take jobs, at least in areas where welfare benefits are high. That is the conclusion of an analysis of inner-city family income in Los Angeles by Economist Arthur ("Curve") Laffer, who has popularized the theory that lower tax rates lead to increased business activity and therefore to higher tax revenues...
...hour political spectacular, Howlin' Howard will trade fiscal quips with Robert Reed, a leading actor in Roots and The Brady Bunch. Jarvis will also respond to questions from a live audience. Other members of the tax-cutting cast include former Secretary of the Treasury William Simon and U.C.L.A. Economist Neil Jacoby. As relief from all the rhetoric, an animated cartoon will trace the history of the oppressed taxpayer from caveman times to the present. "Most people are not tuned in to political broadcasts," admits Stewart Mollrich, the show's writer. "The idea is to keep it lively...
Whether that or any foreseeable approach would work is unknowable. Calculating the effects of possible tax changes on business investment decisions is one of the most arcane of arts. Brookings Economist Joseph Pechman, a liberal, points out that one goal of economic policy should be to increase productivity. But, he insists, it is impossible to know what kind of tax changes, if any, would do that, be cause economists are most uncertain what is causing the current slowdown in productivity. His view was disputed by several other speakers, but Pechman has a point: Congress is unlikely to find the best...
...cost figure could change, but Mark R. Meiners, a government economist, said they indicate the situation has changed from 1973-74, when a survey showed the non-profit homes charged $32 less than the profit-making ones...
That policymakers are being even so tepidly tempted constitutes an intellectual victory for Federal Reserve Governor Henry Wallich, who has been pushing TIP through nearly eight years of debate in obscure economic journals. His basic idea, elaborated in cooperation with University of Pennsylvania Economist Sidney Weintraub, is to set a guideline for wage and benefit increases-about 5% a year in Wallich's latest version-and slap a penalty tax on any company that raised pay as much as 1% more. In his view, that would force employers to hold down wages, and prices would automatically follow...