Articles by J.D. Foster

Economy

Corrected VAT Lessons From Canada

J.D. Foster | May 04, 2010

Marty Sullivan, a frequent commentator on tax policy, has now apparently decided the United States needs a value-added tax (VAT). To advance the cause, he… Read More

Economy

European VAT Tax Evasion No Selling Point

J.D. Foster | May 04, 2010

A big reason Europeans adopted a value-added tax (VAT) was to raise enormous sums to underwrite their social welfare state, but another was that the… Read More

 

Volcker Pronounces VAT a No Go

J.D. Foster | April 29, 2010

According to Paul Volcker, former Chairman of the Federal Reserve and a senior economic advisor to President Obama, an European-style Value Added Tax (VAT) would… Read More

Economy

VAT Finds Favor with Debt Commission Co-Chairman Bowles

J.D. Foster | April 27, 2010

“I think there are many good arguments that you can make for a value added tax or a consumption tax, as opposed to a tax… Read More

Economy

NABE Economists on Stimulus: No Impact!

J.D. Foster | April 26, 2010

During the debate on and after the Obama economic stimulus bill  even some conservative economists were arguing the bill was needed to stabilize the economy. … Read More

Economy

McCain Throws Down the VAT Gauntlet

J.D. Foster | April 15, 2010

The capstone of President Obama’s the “Glut the Beast” strategy is to maneuver the country into accepting a massive new Value-Added Tax (VAT).  This as… Read More

Economy

Volcker’s Volley: The VAT Battle Begins

J.D. Foster | April 09, 2010

President Obama’s push to enact a massive tax increase in the form of a new value-added tax (VAT) is now clearly underway. Earlier this week,… Read More

Economy

Of Myths, Opinions, Taxes, and Guacamole

J.D. Foster | April 05, 2010

Roberton Williams and Rosanne Altshuler’s Five Myths About Your Taxes in the Washington Post on Sunday was such a useful piece one hesitates to criticize,… Read More

 

Are Spring Doves Flocking to the Fed?

J.D. Foster | March 15, 2010

The White House has indicated it intends to nominate San Francisco Federal Reserve Bank President Janet Yellen as Vice-Chairman of the Federal Reserve Board in… Read More

 

TPC’s Hits and Misses on Ryan’s Roadmap

J.D. Foster | March 11, 2010

On March 9 the Tax Policy Center (TPC) released a preliminary analysis of the tax reform proposal contained in Rep. Paul Ryan’s (R-WI) Roadmap for… Read More

Economy

Obama Jobs Deficit Hits 8.3 Million, Another No-Jobs Bill Pending in Congress

J.D. Foster | March 05, 2010

President Obama announced a renewed focus on jobs in his State of the Union address.  His budget stated (PDF) “it is critical that we take steps… Read More

Economy

The Fed and Inflation, Late Again?

J.D. Foster | February 24, 2010

Inflation is ultimately and always a monetary phenomenon.  The Federal Reserve’s extraordinary actions during the recent crisis now require executing a difficult exit strategy without… Read More

Economy

The Senate Still Doesn’t Get the Message

J.D. Foster | February 12, 2010

Senate Majority Leader Harry Reid (D-NV) says “the American people need a message. The message that they need is that we are doing something on… Read More

Economy

Obama Pushes U.S. Credit Rating Below France

J.D. Foster | February 03, 2010

On Tuesday, February 2, President Obama released his budget forecasting a deficit for 2010 of $1.6 trillion for the year and $9.1 trillion from 2010… Read More

Economy

Obama May Finally “Get It” on Economy – We Can Still Hope

J.D. Foster | January 13, 2010

Barack Obama made a big deal throughout the campaign and after that he wanted to raise income taxes on the rich by reversing the reductions… Read More

 

To Defeat the Death Tax, Know Your Opponent

J.D. Foster | January 12, 2010

Last Saturday the Baltimore Ravens inflicted a stunning defeat on the New England Patriots in an NFL wildcard game. In interviews after the game, the… Read More

Economy

Jobs Decline in December as Obama Jobs Deficit Continues to Climb

J.D. Foster | January 08, 2010

Today’s Labor Department jobs report is a study in contrasts. For example, on the one hand the labor market is notably less weak than in… Read More

Economy

An Executive Order Debt Commission Doesn’t Cut It

J.D. Foster | December 17, 2009

President Obama is reported to be considering an Executive Order creating yet another commission to consider options for curtailing Washington’s deficit addiction. Even at a… Read More

Health Care

The Latest Senate Debate on Drug Reimportation: The Outcome Could Kill You

J.D. Foster | December 11, 2009

Timmy: Mommy, where does the new drug I’m taking for my Leukemia come from? Mother: It comes from a drug company. Timmy: But why does… Read More

Economy

Honest Medicare Budgeting in Health Care Reform

J.D. Foster | December 07, 2009

The health care reform wallowing through Congress includes a ploy reminiscent of the “liar loans” prominent during the recent real estate bubble before its collapse…. Read More

Energy

Obama’s Vigorous Anti-Jobs Campaign

J.D. Foster | December 07, 2009

The Obama Administration is visibly perplexed by the failure of the U.S. economy to be duly stimulated. It shouldn’t be. After frittering away political capital… Read More

Economy

Obama’s Failed Stimulus in Pictures: Jobs Gap Grows to 7.6 Million

J.D. Foster | December 04, 2009

Another month under President Obama, another 11,000 jobs lost, pushing the total Obama jobs deficit to 7.6 million. One day after the White House jobs… Read More

Economy

The Jobs Summit: Jobs Failure 2.0

J.D. Foster | December 03, 2009

The unemployment rate when President Obama took office last January was 7.6 percent and credit markets were in the throes of a global contagion. He… Read More

Economy

Dead Men Pay No Taxes

J.D. Foster | December 03, 2009

As the Congress prepares to address the death tax in the waning weeks of December, one argument undergirds the primary defense the tax. The argument… Read More

Security

Sacrifice Spending to Pay for the War

J.D. Foster | December 01, 2009

Liberals in Congress and out are calling for a new tax to pay for the war on terrorists in Afghanistan and Iraq. At the same… Read More

Security

Tax Terrorists, Not Americans

J.D. Foster | November 24, 2009

As President Obama pondered anew his strategy for winning the war on terror in Afghanistan, the antiwar crowd unleashed an odd new tactic to force… Read More

Economy

Heal the Economy, Start Over on Health Care Reform

J.D. Foster | November 06, 2009

As the economy sputters and falters the questions coming up time and again are: What should Obama do? What can Congress do? They’ve tried spending… Read More

Economy

Obama Jobs Deficit Hits 7.7 Million and Climbing

J.D. Foster | November 06, 2009

The Department of Labor announced today the economy shed another 190 thousand jobs in October, pushing the unemployment rate to 10.2 percent and the running… Read More

Economy

Bubble, Bubble, Toil and Trouble

J.D. Foster | November 05, 2009

Confusing times lead to conflicting concerns. Worries over current deflation run into worries about explosive inflation down the road and now there are growing worries… Read More

Economy

Summers’ Tax Rate Comments A Substantial Revelation

J.D. Foster | November 02, 2009

Lawrence Summers, the Director of the White House National Economic Commission recently committed an unpardonable sin – he revealed two unpleasant truths in a single… Read More