There is a common narrative among our nation’s political leaders, media personalities, Hollywood stars, and numerous political pundits regarding our tax system. Undoubtedly, you have heard the argument “rich people” pay little, or at least not their fair share, of the United States’ personal income tax burden.
Economists fundamentally agree on the sources that drive economic growth. Nobel Laureate in economics Robert Barro in his seminal paper, "Economic Growth in a Cross Section of Countries," studied the key economic and political factors that determined 98 countries' competitiveness that led to economic growth and standards of living. It is clear from this and other studies that economic growth is helped by investments in human capital, lower tax rates, lower regulatory burdens on businesses, and emphasis on human development. Continue reading >>
Congress recognizes outstanding contributions women have made in the United States each year in March in honor of Women's History Month. The impact of women is seen across every sector in the United States, but perhaps more than in any other segment of American life, women have taken outstanding leadership positions in commerce. Continue Reading >>
As we end Black History Month, it’s worth remembering the amazing story of the “Real McCoy.” Continue reading >>
For a brief period after World War II, the United States produced roughly 74 percent of global GDP and more than 50 percent of the world’s passenger and commercial motor vehicles. Continue reading >>
The 2017 Michigan Economic Competitiveness Study was recently released by the Michigan Chamber of Commerce Foundation and Northwood University. The sixth annual study confirms that Michigan is making great progress at the state level since the Great Recession ended in 2009. Continue reading >>