A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.
Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.
The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is the philosophy of freedom,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.
The Bush Tax Panel Proposals: Tinkering or Major Reform?
Sen. Jim DeMint,
Institute for Research on the Economics of Taxation
The President’s Advisory Panel on Federal Tax Reform, headed by former senators Connie Mack and John Breaux, delivered its report on November 1. The report included two reform alternatives: a “simplified income tax” and a “growth and investment tax.” While both plans include many pro-growth elements, they are less fundamental than leading tax reform proposals of recent years. Certainly, the panel could have done more to reduce marginal tax rates under both plans.
One of the Senate’s leading tax reformers, Jim DeMint (R-SC), will assess the panel’s proposals and discuss his more comprehensive plan, the “8.5% Tax Reform Plan.” Other top experts will examine the pros and cons of the Bush panel’s report and discuss the steps that policymakers can take to achieve major tax reforms in 2006.