Today’s Brew 8-30-14

Recently, Professor Brian Domitrovic, author of Econoclasts, appeared on the Houston radio talk show “The Price of Business” with host Kevin Price. An interview dubbed “The Supply Side Miracle” is interesting, with hints of things to come. Listen to the interview here.

Today’s Brew (part 2) 8-19-14

Congressman Paul Ryan released a new book today, sparking 2016 speculation along with it. The Way Forward: Renewing the American Idea is a very good, easy read so far. Surely there will be other supply-side nuggets later, but this passage on page 55 really jumped off the page.

In interviewing with Jack Kemp for a job at Empower America, Ryan recalls this exchange:

He asked me, “What do you think is better-a tax credit or a tax-rate reduction? Should we reduce tax rates or should we give people tax credits?”

I knew what he was up to. Kemp was famous for convincing President Reagan of the merits of supply-side economics. As a member of Congress, he had authored the Reagan tax cuts, and his pro-growth ideas helped create the economic expansion of the 1980s and 1990s. Jack Kemp didn’t just join the Reagan Revolution; he was the chief architect of some of its greatest victories.

In asking certain questions, he was trying to see if I was “on the model,” which was a term we used for supply-siders of those days. I was. “A reduction in tax rates,” I replied, “because growth occurs at the margin.”