Republican Tax Reform Briefing on Capitol Hill
- May 25, 2021
- 1 min read
Tax Briefing With Ways and Means Chairman Kevin Brady
Goodman Institute is hosting a Capitol Hill briefing on the House Republican tax plan with Chairman Kevin Brady, and Boston University economist Laurence Kotlikoff.
Thursday, 06.22.17 12:00 – 1:00 pm RT
In Room H-137 U.S. Capitol
Washington, DC
— This is a widely attended event and lunch will be served. —
RSVP: jeff@marketinstitute.org
Prof. Kotlikoff and Berkeley economist Alan Auerbach are the academic sources of the Ryan/Brady tax bill (“The Better Way”) and they have recently completed an analysis of the plan for the Goodman Institute, using very high level, first-of-their-kind computer models. (Each estimate requires several computers running for 14 hours.)
The surprising results were reported in the Wall Street Journal by Kotlikoff:
There is no give-a-way to the rich: the plan is “almost as fair” as the current system.
There are no huge deficits: in fact, the plan gains revenue for the government.
There is a boost in wages: about $4,000 in additional take-home pay every year for the average household.
Their study will soon be posted at the NBER Working Paper web site and has these features:
Their model of how international capital flows respond to country tax policies has 17 sectors and is by far the most sophisticated of its kind.
Their method of measuring progressivity is light years ahead of everyone else, including the CBO and Brookings institution.
Since they find that burden of the corporate income tax falls on workers, the Ryan/Brady bill does something that may surprise many Republicans and Democrats: It replaces a tax on labor with a tax on wealth.
Media Contact:
Waylon Tate | waylon@jwaylon.com
O 214-613-0073
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