Artificial forces are always at play from government fiscal policy (tax and spend) and central bank monetary policy (inflation and full employment).
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And the policy that people cared about most was the twin towers of fiscal (tax) and monetary (dollar) policy.
Like a hurricane brewing over warm Caribbean waters, a perfect storm of bad fiscal policy, bad tax policy, and bad social policy is being pumped up by the printing presses of the Federal Reserve.
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It, through tax, fiscal, monetary and other policy, establishes an economic climate that generates or strangles opportunity.
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And will continue to do so until she has persuaded her colleagues to amend the euro-zone treaty to permit Brussels (spelled B-e-r-l-i-n) to control the tax, spending and fiscal policy of euro-zone members.
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Any new fiscal rules need to allow for tax and labor-policy competition.
And this sharply higher tax is being forced through just as interest rates are rising and fiscal policy is being tightened.
They got elected promising to slash the value-added tax, which contributes nearly a third of the government's tax revenues, and to loosen fiscal policy.
Without the 2010 tax act, federal fiscal policy would have been restrictive this year because of the previously scheduled tax increases and the waning of the effects of ARRA (the stimulus).
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More than 99 percent of my time on this issue is consumed by the difficult task of trying to convince policy makers that tax competition, fiscal sovereignty, and financial privacy should be celebrated rather than persecuted.
Jean-Claude Trichet, president of the European Central Bank, argues that fiscal thrift will increase private spending by reducing uncertainty about government tax policy and debt.
The move comes with U.S. tax policy up for debate as lawmakers negotiate the fiscal cliff and the expiration of the Bush tax cuts which would raise rates on investment income including dividends.
Waste and lower growth because of poor tax policy will only make the fiscal hole harder to fill.
Gabelli ventured forth into some comments on the fiscal cliff, politics, current leadership in the U.S., and tax policy, and while having some concerns in each area, seemed genuinely optimistic for the period of the next 2-5 years (while acknowledging he would never attempt to predict what is going to happen in the next six weeks).
So too should the relaxation in fiscal policy which started with President Bush's tax rebates this summer and which seem set to continue with a substantial stimulus package now working its way through Congress.
Officials from the council (CEA) and the White House have kept mum about the report's findings, but we do know it will address the following issues: productivity growth, pro-growth tax policy, the fiscal challenges facing Medicare, catastrophe risk insurance, energy and infrastructure in the transportation sector, currency markets, international trade and investment and immigration.
With higher tax burdens and more generous jobless benefits, European countries get a bigger fiscal boost without any change in policy.
In short, the tax side of this budget deal fails all tests of sensible fiscal policy: the costs will be high and the economic benefits risible.
And I think the government should help us -- should help us in fiscal policy, should help us in tax policy, because a reinvention like you talk of the infrastructure of building bridges -- but we got to build up banks, we've got to build our technology.
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