Featuring Dov S. Zakheim, Senior Advisor, Center for Strategic and International Studies; Mackenzie Eaglen, Resident Fellow at the Marilyn Ware Center for Security Studies, American Enterprise Institute; Todd Harrison, Senior Fellow, Defense Budget Studies, Center for Strategic and Budgetary Assessments; and Christopher A. Preble, Vice President for Defense and Foreign Policy Studies, Cato Institute; moderated by Kate Brannen, Senior Reporter, Foreign Policy.
In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.
Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.
Featuring: Rep. Phil English (R-PA), Ranking Member, Select Revenue Measures Subcommittee, Co-Chairman, Zero AMT Caucus; Chris Edwards, Cato Institute; and moderated by Daniel Mitchell, Cato Institute.
The alternative minimum tax (AMT) is a complex income tax imposed on top of the regular income tax. Without action by Congress, 23 million taxpayers will pay the AMT in 2007 and be hit with an average burden of more than $3,000. Some policymakers have proposed partial AMT relief, and the Bush administration supports replacing $1 trillion of future AMT revenues with other taxes.
By contrast, Rep. Phil English supports repeal of the individual and corporate AMTs without revenue offsets. Now is a good time for repeal given the flood of federal revenues from strong economic growth. English will discuss the prospects for reform and the shortcomings of proposals that fall short of full repeal. Chris Edwards and Dan Mitchell will discuss the workings of the AMT and how the tax fits into the broader budget picture this year and coming years.