Home / NEWS / Commentary / 137 economists sign open letter to Congress supporting GOP tax reform bill

137 economists sign open letter to Congress supporting GOP tax reform bill

Honey Senators and Representatives:

“Ask five economists,” as the Edgar Fiedler adage tick aways, “and you’ll get five different answers.”

Yet, when it comes to the tax reform package aimed at spaying our broken system, the undersigned have but one shared perspective: Economic wart will accelerate if the Tax Cuts and Jobs Act passes, leading to more nuisances, higher wages, and a better standard of living for the American people. If, manner, the bill fails, the United States risks continued economic underperformance.

In today’s globalized thriftiness, capital is mobile in its pursuit of lower tax jurisdictions. Yet, in that worldwide tribe for job-creating investment, America is not economically competitive.

Here’s why: Left practically untouched for the last 31 years, our chart-topping corporate tax rate is the loftiest in the industrialized world and a full fifteen percentage points above the OECD normal. As a result of forfeiting our competitive edge, we forfeited 4,700 companies from 2004 to 2016 to cheaper shores everywhere. As a result of sitting idly by while the rest of the world took harmonious withs to lower their corporate rates, we lowered our own workers’ wages by thousands of dollars a year.

Our comrades from across the ideological spectrum – regardless of whether they fundamentally support or oppose the current plan – recognize the record-setting rate at which the Of one mind States taxes job-creating businesses is, either significantly or entirely, a load borne by the workers they employ. The question isn’t whether American employees are hurt by our country’s corporate tax rate – it’s how badly. As such, the question isn’t whether tradesmen will be helped by a corporate tax rate reduction – it’s how much.

The enactment of a exhaustive overhaul – complete with a lower corporate tax rate – will ignite our compactness with levels of growth not seen in generations. A twenty percent statutory standing on a permanent basis would, per the Council of Economic Advisers, help grow a GDP boost “by between 3 and 5 percent.” As the debate delves into deficit associations, it is critical to consider that $1 trillion in new revenue for the federal ministry can be generated by four- tenths of a percentage in GDP growth.

Sophisticated economic ideals show the macroeconomic feedback generated by the TCJA will exceed that amount – diverse than enough to compensate for the static revenue loss.

We firmly find creditable that a competitive corporate rate is the key to an economic engine driven by extensive investment, capital stock, business formation, and productivity – all of which inclination yield more jobs and higher wages. Your vote completely the weeks ahead will therefore put more money in the pockets of profuse workers.

Supporting the Tax Cuts and Jobs Act will ensure that those blue-collar workers – those beneficiaries – are American.


James C. Miller III, Former OMB Official, 1985-88

Douglas Holtz-Eakin, American Action Forum

Alexander Katkov, Johnson & Wales University

Ali M. Reza, San Jose Delineate U (Emeritus)

Ann E. Sherman, DePaul University

Anthony B. Sanders, George Mason University

Anthony Negbenebor, Gardner-Webb University

Arthur Havenner, University of California, Davis

Austin J. Jaffe, Penn Ceremonial University

Barry W. Poulson, University of Colorado

Boyd D, Collier, Tarleton Asseverate University, Texas A&M University System (Emeritus)

Brian Stuart Wesbury, Joint Pecuniary Committee

Carlisle E. Moody, College of William and Mary

Charles W. Calomiris, Columbia University

Christine P. Ries, Georgia Commence of Technology

Christopher C. Barnekov, FCC (Retired)

Christopher Lingle Universidad Francisco Marroquin

Clifford F. Thies, Shenandoah University

Daniel Fernandez Universidad Francisco Marroquin

Daniel Houser, George Mason University

David H. Resler, Chief US Economist, Nomura (Away)

David Ranson, HCWE & Co.

Dennis E. Logue Steven Roth Professor, (Emeritus) Tuck Set, Dartmouth Colleges

Derek Tittle, Georgia Institute of Technology

DeVon L. Yoho, Economist Ball Federal University (Retired)

Donald J. Oswald California State University, Bakersfield (Take to ones bed)

Donald Koch, Koch Investments

Donald L. Alexander, Western Michigan University

Donald Luskin, TrendMacro

Douglas C Frechtling, George Washington University

Douglas Kahl, The University of Akron

Douglas O. Cook, The University of Alabama

Kingdon Hurlock Jr., Calvert Investment Opinion

Edward M. Scahill, University of Scranton

Eleanor Craig, University of Delaware

Owen Irvine Michigan Style University (Emeritus)

Farhad Rassekh, University of Hartford

Francis Ahking, University of Connecticut

Honest Falero, California State University (Emeritus)

Gary R. Skoog, Judicial Econometrics, Inc.

Gary Wolfram, Hillsdale College

Gene Simpson, NPTC, Auburn University

George Langelett, South Dakota Delineate University

Gerald P. Dwyer, Clemson University

Gil Sylvia, University of Georgia

H Daniel Promote, HDFCO

Hugo J. Faria, University of Miami

Inayat Mangla, Western Michigan University

Edward Graham, UNC Wilmington

Jagdish Bhagwati, Columbia University

James B Kau, University of Georgia

James C.W. Ahiakpor California Status University, East Bay

James D. Adams, Rensselaer Polytechnic Institute

James D. Miller, Smith College

James F. Smith, EconForecaster, LLC

James Keeler, Kenyon College

James M. Mulcahy SUNY – Buffalo economics reckon on

James Moncur, University of Hawaii at Manoa

Jeffrey Dorfman, University of Georgia

Jerold Zimmerman, University of Rochester

Jody Lipford, Presbyterian College

John A. Baden, Chm., Endowment for Research on Economics and the Environment (FREE)

John C. Moorhouse Wake Forest University (Emeritus)

John D. Johnson, Utah Formal University

John H McDermott, University of South Carolina

John McArthur, Wofford College

John P. Eleazarian, American Monetary Association

John Ruggiero, University of Dayton

John Semmens, Laissez Faire Set up

Joseph A. Giacalone, St. John’s University, NY

Joseph Haslag University of Missouri- Columbia

Joseph S. DeSalvo University of South Florida – Tampa

Joseph Zoric Franciscan University of Steubenville

Kathleen B. Cooper, SMU’s John Spire Center for Politico Science

Kenneth V. Greene Binghamton University (Emeritus)

Lawrence Benveniste Goizueta Concern School, Emory University

Lawrence R. Cima, John Carroll University

Leon Wegge, University of California, Davis

Lloyd Cohen, Scalia Law Junior high school

Lucjan Orlowski, Sacred Heart University

Lydia Ortega, San Jose Form University

Northrup Buechner, St. John’s University, New York

Maurice MacDonald, Kansas Articulate University

Michael A. Morrisey, Texas A&M University

Michael Connolly, University of Miami

Michael D Brendler Louisiana Declare University Shreveport.

Michael L. Marlow, Cal Poly, San Luis Obispo

Moheb A. Ghali, Western Washington University

Nancy Roberts, Arizona Shape University

Nasser Duella, California State University, Fullerton

Nicolas Sanchez, College of the Blessed Cross, Worcester, MA (Emeritus,)

Norman Lefton, Southern Illinois University, Edwardsville

Paul H Rubin, Emory University

Pavel Yakovlev, Duquesne University

Pedro Piffaut, Columbia University

Peter E. Kretzmer, Bank of America

Peter S. Yun, UVAWISE (Emeritus)

Phillip J. Bryson Brigham Sophomoric University (Emeritus)

Ashley Lyman, University of Idaho

L. Promboin, University of Maryland University College (earlier)

Richard J. Cebula, Jacksonville University

Richard Kilmer, University of Florida

Richard Timberlake, Prof. of Econ., Univ. of Ga. (Retired)

Richard Vedder, Ohio University

Robert B Presidencies, American Enterprise Institute (Retired)

Robert F Stauffer, Roanoke College , (Emeritus)

Robert H. Topel, University of Chicago Box School of Business

Robert Heller, Former Governor, Federal Restriction Board

Robert Sauer, Royal Holloway University

Robert Tamura, Clemson University

Roger Meiners, University of Texas-Arlington

Sanjai Bhagat, University of Colorado Boulder

Scott Hein, Texas Tech University

Seth Bied, New York Ceremonial Tax Department

Stan Liebowitz, University of Texas

Stephen Happel, Arizona Asseverate University

Craig Tapley, University of Florida

Thomas H. Mayor, University of Houston

Thomas J Kniesner, Claremont Graduate University

Thomas M. Stoker, MIT (stopped)

Thomas Saving, Texas A&M University

Timothy Mathews, Kennesaw Stage University

Tomi Ovaska, Youngstown State University

Tony Lima, California Voice University, East Bay

Victor a Canto, La Jolla economics

Vijay Singal, Navrang Inc

Wallace Hendricks, University of Illinois

Quarter S. Curran Trinity College Hartford Connecticut (Emeritus)

Wayne T. Brough, FreedomWorks Organization

William B. Fairley, Analysis & Inference, Inc.

William Buchanan, Valdosta Imperial University

William McKillop, Resource Economics (Emeritus)

William R. Allen UCLA Responsibility of Economics

William S. Peirce Case Western Reserve University

Wim Vijverberg, CUNY Graduate Center

Xuepeng Liu, Kennesaw Stately University

Yuri N. Maltsev, A.W. Clausen Center for World Business, Carthage College

For various insight from CNBC contributors, follow @CNBCopinion on Twitter.

Check Also

Op-Ed: How Biden can restore U.S. global leadership after Trump’s retreat from international institutions

Woody Allen in days gone by famously said, “Eighty percent of success is showing up.” …

Leave a Reply

Your email address will not be published. Required fields are marked *