Jack answers that the plan buys far fewer years than advertised. Both are counting the same thing, which is the number of years until the Social Security trust fund reads zero. The thing is that we ...

The TGA functions as Treasury’s primary checking account and is held at the Federal Reserve Bank of New York. At the end of ...

At the end of 2025, Congress let the Work Opportunity Tax Credit (WOTC) lapse, and rightly so. I argued on three separate ...

Congress is preparing to extend a semiconductor tax credit that is subsidizing investments companies had already decided to make. Of the CHIPS funds that I could match to publicly announced projects, ...

Yesterday the Congressional Budget Office (CBO) released its dynamic score of the One Big Beautiful Bill Act (OBBBA), and the numbers are staggering. The projected increase in the deficit is much ...

Democrats had a big night on Tuesday. If you stop at the top of the ticket, you’d think the country swung hard left. Keep reading down the ballot, however, and the picture is murkier. As the ...

The economists who dismissed fiscal restraint in the 2010s overlooked something important. France is now paying the price. Well, well, well. Paul Krugman has discovered that France has a debt problem.

In recent years, policymakers across the political spectrum have proposed, and enacted sweeping new import taxes on foreign goods, often with the stated goals of reviving domestic manufacturing, ...

California says its new billionaire tax is about billionaires. But buried in the text of a proposed constitutional amendment is something far more consequential: a tax structure that could make it ...

One of the most common claims in debates over Social Security is that the program’s financing problems could be solved simply by eliminating the payroll tax cap and applying Social Security taxes to ...