Podcast appearances and mentions of adam michel

What's going on with the Republican tax bill? How different can state budgets really be from one another? And how does Amtrak justify it's barely used services? Adam Michel joins Econception to discuss. Adam N. Michel is director of tax policy studies at the Cato Institute, where he focuses on analyzing the economic and budgetary effects of taxation in the United States.

Federal withholding may among the most insidious of government policies. It hides the full scale of what government takes from us, and makes you feel like you're getting a bonus when you get your own money back. Cato's Adam Michel makes the case. Hosted on Acast. See acast.com/privacy for more information.

Cato's Adam Michel ran a bracket of the worst offenders among "tax expenditures," or special benefits for some taxpayers. Turns out people like their own tax benefits and dislike the ones that benefit someone else. Hosted on Acast. See acast.com/privacy for more information.

Tax season is here, and so is the debate about what you owe and why. Cato Institute's Adam Michel joins us to break down the policies behind your tax return—from the 2017 Tax Cuts and Jobs Act to what's at stake if key provisions expire in 2025. We cover how the law affected everyday Americans, why claims about corporations and the rich not paying their “fair share” fall apart, and what an ideal tax system could actually look like.   Adam Michel is the Director of Tax Policy Studies at Cato Institute. Read his updates on tax and fiscal policies at https://adamnmichel.substack.com/ and follow him on X at @adamnmichel.

Send us a textJeff and Scott chat with Adam Michel of the Cato Institute about tax expenditures. Adam currently has on his X account the Tax Expenditure Madness brackets (also on his substack: https://adamnmichel.substack.com/). Adam sets up brackets like the March Madness NCAA basketball tournament,  but instead of pitting basketball teams against each other to establish the best team*, he has tax expenditures competing to determine which is the worst expenditure. Jeff, Scott and Adam chat about several sets of tax expenditures, and offer their somewhat tongue-in-cheek opinion about which ones are worst.*For example, by establishing that UNC women's basketball has won a national championship 1 time, compared to Duke's 0 times, or that UNC men's basketball has won the NCAA tournament 6 times, compared to Duke's 5 times. Of note is that of all teams with over 20 games played in the NCAA men's tournament, Duke has the highest winning percentage, which is only to say that they win a lot before they ultimately lose--they choke under pressure in the end.

Introduction: Caleb O. BrownPatrick Eddington, Mike Fox, and Brent Skorup on surveillance and criminal justiceRomina Boccia and Adam Michel on how Congress can help the DOGE be successfulRyan Tracy, Norbert Michel and Jennifer J. Schulp on what to expect from the Trump administration's impact on financial marketsJennifer Huddleston and Rep. Jay Obernolte on AI policy and its futureExclusive: Tom Palmer on his Free Society article, “Civil Society or Political Society?” Hosted on Acast. See acast.com/privacy for more information.

In the absence of significant reforms, Americans should be prepared for a future that looks more like the European tax system. Adam Michel discusses what that would mean in a new Cato paper. Hosted on Acast. See acast.com/privacy for more information.

Tommy spends some time with Adam Michel from the Cato Institute breaking down how Harris and Trump would approach tax reform. Whose plan would work better? What would happen in an ideal world?

Tommy talks with Adam Michel, director of tax policy studies at the Cato Institute

Presidential candidates Harris and Trump both seem amenable to special tax benefits for their favored groups of voters, be they tipped workers or recipients of Social Security benefits. Is that good tax policy? Adam Michel explains. Hosted on Acast. See acast.com/privacy for more information.

Adam Michel, Cato Institute Budget Policy Director. The Debate Over Taxing Social Security Benefit

Simon Conway's interview with Adam Michel during Tuesday's second hour

Between the needless complications of the tax code and various special-interest giveaways in it, overall tax rates are higher than they could be otherwise. Adam Michel explains in a new paper what would be required for Congress to lower overall rates. Hosted on Acast. See acast.com/privacy for more information.

Following his related testimony on Capitol Hill, Cato's Adam Michel details why Congress should move toward ending a wide variety of penalties aimed squarely at Americans who save. Hosted on Acast. See acast.com/privacy for more information.

Joe Selvaggi talks with CATO Institute's Dr. Adam Michel about the opportunity for tax reforms that promote individual savings, an important foundation for economic growth, personal well-being, and intergenerational support. Guest: Adam N. Michel is director of tax policy studies at the Cato Institute, where he focuses on analyzing the economic and budgetary effects of […]

Joe Selvaggi talks with CATO Institute's Dr. Adam Michel about the opportunity for tax reforms that promote individual savings, an important foundation for economic growth, personal well-being, and intergenerational support.

Adam Michel, director of Tax Policy Studies at the CATO Institute, joins Mark Reardon to discuss his latest article titled, "Top Tax Rates are Already on the Wrong Side of the Laffer Curve in at Least Ten States."

Hour 2: Sue brings you today's Sue's News on high-selling movie items, bees in a closet, and the Random Fact of the Day on "Hawaii Five-O"! Then, Adam Michel, director of Tax Policy Studies at the CATO Institute, joins Mark Reardon to discuss his latest article titled, "Top Tax Rates are Already on the Wrong Side of the Laffer Curve in at Least Ten States." Later, Frank Cusumano, KSDK Sports Director, hops on the line to explain why the Cardinals game tonight has been moved to tomorrow for a doubleheader, and more sports news!

Income taxes are on pace to increase on virtually all Americans in 2026. Cato's Adam Michel has some reforms in mind. Hosted on Acast. See acast.com/privacy for more information.

Adam Michel is the Tax Policy Director at the Cato Institute. $1.8 Trillion in Energy Tax Credits v. New Bridges

Episode 85 is with Dr. Adam Michel, director of tax policy studies at the Cato Institute. Today, we discuss: 1) Problems with OECD and global taxes; 2) Tax cliff coming in 2025 from many expiring TCJA provisions; and 3) Why a fiscal crisis without major spending reforms, how taxes influence human behavior, the truth about The Laffer Curve, and much more. Please share this on social media, and provide a rating and review. Thanks! Also, subscribe and see show notes for this episode on Substack (www.vanceginn.substack.com) and visit my website for economic insights (www.vanceginn.com).

In an era marked by global trade and digital transformation, the international tax landscape is at a crucial juncture. The OECD would like to create an international tax cartel. Adam Michel explains why Congress should reject the proposal. Hosted on Acast. See acast.com/privacy for more information.

Highlights this week. Interviews may be abbreviated. For the date and hour podcast to hear more, see the note 0:00 Dr. JoAnn di Filippo and Chris discuss Lobbyist and Sonoran Corridor status reports to Pima BOS (Nov 13, Hr 2) 8:29 Joe DeSimone, Blue Chip Planning, on current economic headwinds: interest rates and inflation (Nov 13, Hr 3) 20:07 Pima County Dist 3 Supervisor Sharon Bronson resigns this month after nearly three decades on BOS. Recently a centrist but not always. (Nov 14, Hr 1) 29:44 Margaret Mullin, Artistic Director, Ballet Tucson, on upcoming performances and events (Nov 14, Hr 2) 37:26 Former Oro Valley Police Chief Danny Sharp on traffic enforcement--excerpt of discussion (Nov 14, Hr 3) 47:08 Adam Michel with the Cato Institute on tax policy alternatives (Nov 15, Hr 1) 1:1:33 Ramon Gaanderse on Southern Arizona Construction Career Day, exposing 4600 Tucson area students to opportunities in the construction trades (Nov 15, Hr 2) 1:14:43 Bike in a Box Radiothon kickoff (Nov 16, Hr 1) 1:22:47 US Rep David Schweikert on pro-Hamas demonstrations, Continuing Resolutions, and tough choices on cutting deficit (Nov 17, Hr 1) 1:35:06 Is "Die Hard" a Christmas movie? A roundtable with Mark Van Buren, CJ Hamm, Ron Arenas, and Chris. Will the question ever be settled? (Nov 17, Hr 2)

Barney Brenner, semi-retired business owner, political consultant, and occasional content contrubutor at townhall.com joins Chris for the show today. Adam Michel, Cato Institute Tax Policy Director, on current tax policies and consequences of various directions.

Adam Michel, director of tax policy studies at the Cato Institute. How To Stop Watering-Down Tax Cut Benefits & Research Shows Taxes Matter for Investment and Growth

Introduction: Caleb O. BrownRound table: Romina Boccia, Chris Edwards, Scott Lincicome, and Adam Michel evaluate ‘Bidenomics'Kit Taintor on Welcome.US and the role of private sponsorship in immigration policyJeb Hensarling and Jelena McWilliams on SEC executive compensation clawback rulesJames Fishback and Caleb O. Brown on the devolution of high school debate Exclusive: Walter Olson on SCOTUS business cases Hosted on Acast. See acast.com/privacy for more information.

Joe Selvaggi talks with Cato Institute's Director of Tax Policies, Dr. Adam Michel, about the sources of the nation’s recent record levels of deficits and debt. Together, they seek to understand what would constitute a policy path toward fiscal sustainability that is also politically viable. Guest Adam N. Michel is director of tax policy studies […]

The state and local tax deduction has been curtailed, but many Congressional Democrats wish it would come back in full force. Cato's Adam Michel comments. Hosted on Acast. See acast.com/privacy for more information.

In just a few years the 2017 Tax Cuts will expire. Many have blamed this law and past tax cuts for our rising deficits. But is that true? Will raising taxes solve our financial problems? Adam Michel from the Cato Institute says that the growth of federal spending is the problem and raising taxes would incentivize even more spending. See omnystudio.com/listener for privacy information.

Another unnecessary crisis averted. In this episode, Jen examines the debt ceiling crisis events of the past to show that the Fiscal Responsibility Act of 2023 - which raised the debt ceiling - is not likely to reduce our government's debt but will likely ensure that our environment will be trashed for profit. She also examines the best path forward to ensure that the debt ceiling is never used for political leverage again. Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! View the show notes on our website at https://congressionaldish.com/cd275-debt-ceiling-2023-crisis-normalized Background Sources Congressional Dish Episodes CD261: Inflation Reduction Act CD257: PACT Act – Health Care for Poisoned Veterans CD151: AHCA – The House Version (American Health Care Act) CD049: Crisis… Postponed CD048: The Affordable Care Act (Obamacare) Debt Ceiling Overview “US debt ceiling - what it is and why there is one.” Natalie Sherman. Jun 2, 2023. BBC. “What Happens When the U.S. Hits Its Debt Ceiling?” Noah Berman. Last Updated May 25, 2023. Council on Foreign Relations. “A brief history of debt ceiling crises and the political chaos they've unleashed.” Raymond Scheppach. May 12, 2023. The Conversation. “Congress has revised the debt ceiling 78 times since 1960. An expert explains why.” Scott Simon and Lennon Sherburne. April 29, 2023. NPR. New Development Bank Ben Norton on Twitter New Development Bank on Twitter New Development Bank Website “BRICS New Development Bank de-dollarizing, adding Argentina, Saudi Arabia, Zimbabwe as members.” Ben Norton. Jun 8, 2023. Monthly Review Online. “NDB Board of Directors held its 40th meeting.” Jun 5, 2023. New Development Bank. Debt Limit History “The Debt Limit Through the Years.” Bipartisan Policy Center. “US government shutdown to end after Congress passes debt ceiling deal.” Paul Lewis and Dan Roberts. Oct 15, 2013. The Guardian. “S.& P. Downgrades Debt Rating of U.S. for the First Time.” Binyamin Appelbaum and Eric Dash. Aug 5, 2011. The New York Times. “Gingrich Vows No Retreat on Debt Ceiling Increase.” Clay Chandler. Sept 22, 1995. The Washington Post. 2023 Crisis “House Democrats Move to Force a Debt-Limit Increase as Default Date Looms.” Carl Hulse. May 2, 2023. The New York Times. “Can Congress Make an End-Run Around a Debt Limit Impasse? It's Tricky.” Carl Hulse and Jeanna Smialek. Apr 7, 2023. The New York Times. The Debt “2023 VAT Rates in Europe.” Cristina Enache. Jan 31, 2023. Tax Foundation. “National Debt: Definition, Impact, and Key Drivers.” Updated May 25, 2023. Investopedia. “Briefing Book: What is the Child Tax Credit?” Updated May 2021. Tax Policy Center. The Law H.R.3746: Fiscal Responsibility Act of 2023 Jen's Highlighted PDF CBO Estimate of Budgetary Effects Law Outline Division A: Limit Federal Spending Title I: Discretionary Spending Limits for Discretionary Category Sec. 101: Discretionary Spending Limits Sets spending caps for fiscal years 2024 and 2025 2024: Over $886 billion for defense Over $703 billion for non-defense Sec 102: Special Adjustments for Fiscal Years 2024 and 2025 If there is a continuing resolution in effect on or after January 1, 2024 for fiscal year 2024, or a continuing resolution for 2025 on or affect January 1, 2025, defense and non-defense spending will be sequestered, meaning a 1% across the board cut Title II: Budget Enforcement in the House of Representatives Explains how the House of Representatives must implement this law Title III: Budget Enforcement in the Senate Explains how the Senate must implement this law Division B: Save Taxpayer Dollars Title I: Rescission of Unobligated Funds Takes money back from accounts where it wasn't all spent including from: The Public Health and Social Services Emergency Fund The Centers for Disease Control and Prevention Specifically their COVID vaccine activities and vaccine supply chains All the money except $7 billion for COVID testing and mitigation All of the SARS-CO-V2 genomic sequencing money except for $714 million All of the money for COVID global health programs International Disaster Assistance funds for the State Department National Institutes of Health - National Institute of Allergy and Infectious Diseases Centers for Medicare and Medicaid Services Community health centers National Health Service Corps Nurse Corps Graduate level teaching health centers Mental health and substance use disorder training for health care professionals and public safety officers Grants for mental health for medical providers Funding for pediatric mental health care access Grants for survivors of sexual assault Child abuse prevention and treatment Medical visits at home for families State and local fiscal recovery funds Rural health care grants Restaurant revitalization fund Elementary and secondary school emergency relief funds Housing for people with disabilities Housing for the elderly Grants to Amtrak and airports Air carrier worker support and air transportation payroll support Title II: Family and Small Business Taxpayer Protection Sec. 251: Rescission of Certain Balances Made Available to the Internal Revenue Service Defunds the IRS by approximately $1.4 billion Title III: Statutory Administrative Pay-As-You-Go Requires agencies to submit plan to reduce spending in an equal or greater amount to every action they take that increases spending. This is easily waived and expires at the end of 2024.. Title IV: Termination of Suspension of Payments on Federal Student Loans: Resumption of Accrual of Interest and Collections Sec. 271: Termination of Suspension of Payments on Federal Student Loans; Resumption of Accrual of Interest and Collections At the end of September, people with Federal student loans will have to begin repayment of their loans, and the Secretary of Education is not allowed to implement an extension of the payment pause. Division C: Grow the Economy Title I: Temporary Assistance to Needy Families Orders reports about work requirements for welfare payments Title II: SNAP Exemptions Sec. 311: Modification of Work Requirement Exemptions In order to receive food benefits for more than 3 months in a 3 year period, "able bodied" people have to work at least 20 hours per week or participate in a work program for 20 hours per week unless that person is under 18 or over 50 years old, medically unable to work, is a parent with dependent children, or is pregnant. This provision increases the work requirement age over the next few years so it becomes 55 years old. This provision adds homeless individuals, veterans or foster kids until they are 24 to the list of people exempt from the work requirements This provision expires and the qualifications revert back to what they used to be on October 1, 2030 Title III: Permitting Reform Sec. 321: Builder Act Changes the requirements for NEPA environmental studies to include "any negative environmental impacts of not implementing the proposed agency action in the case of a no action alternative..." and requires only "irreversible and irretrievable commitments of FEDERAL resources which would be involved in the proposed agency action should it be implemented" Adds circumstances when agencies will not have to produce environmental impact documents Requires environmental impact statements when the action has a "reasonably foreseeable significant effect on the quality of the HUMAN environment." Allows agencies to use "any reliable data source" and says the agency is "not required to undertake new scientific or technical research unless the new scientific or technical research is essential to a reasoned choice among alternatives and the overall costs and time frame of obtaining it are not unreasonable." Assigns roles for "lead agencies" and "cooperating agencies" and says that the agencies will produce a single environmental document Sets a 150 page limit on environmental impact statements and 300 pages for a proposed agency action with "extraordinary complexity" Sets a 75 page limit on environmental assessments Requires lead agencies to allow a "project sponsor" to prepare environmental assessments and environmental impact statements under the supervision of the agency. The lead agency will "evaluate" the documents and "shall take responsibility for the contents." Environmental impact statements must be complete in under 2 years after the EIS is ordered by the agency Environmental assessments must be completed in 1 year The agency may extend the deadlines Project sponsors are given the right to take government agencies to court for failure to meet a deadline Sec. 324: Expediting Completion of the Mountain Valley Pipeline "Congress hereby ratifies and approves all authorizations, permits, verifications, extensions, biological opinions, incidental take statements, and any other approvals or orders issued pursuant to Federal law necessary for the construction and initial operation at full capacity of the Mountain Valley Pipeline." Gives the Secretary of the Army 21 days after enactment of this law to issue "all permits or verifications necessary to complete the construction of the Mountain Valley Pipeline across the waters of the United States" "No court shall have jurisdiction..." to review "...any approval necessary for the construction and initial operation at full capacity of the Mountain Valley Pipeline... including any lawsuit pending in a court as of the date of enactment of this section." Division D: Increase the Debt Limit Sec. 401: Temporary Extension of Public Debt Limit Suspends the debt limit until January 1, 2025 On January 2, 2025, the debt limit will automatically increase to whatever amount the debt level is at the end of the suspension Audio Sources Senate Session June 1, 2023 Highlighted Transcript Senate Session Parts 1 & 2 May 31, 2023 Highlighted Transcript Meeting: H.R. 3746 - Fiscal Responsibility Act of 2023 May 30, 2023 House Committee on Rules Watch it on YouTube Clips 22:50 Rep. Jason Smith (R-MO): I should note for my colleagues that Democrats could have raised the debt limit last year when they controlled the House of Representatives. 35:30 Rep. Ron Estes (R-KS): The Fiscal Responsibility Act finally ends the federal student loan moratorium and the so-called interest pause, effective August 31, 2023. For every month borrowers were allowed to skip payments, $4.3 billion were added to the American taxpayers debt. 41 months later, the moratorium has cost American taxpayers approximately $176 billion. 1:01:15 Rep. Joe Neguse (D-CO): The President put forward a budget months ago. Chairman Smith, do you know when the President submitted his budget to the United States Congress? Rep. Jason Smith (R-MO): I don't remember but it was -- Rep. Joe Neguse (D-CO): It was March 9th. Rep. Jason Smith (R-MO): It was late. It was due February 1st. Rep. Joe Neguse (D-CO): Oh, I'm glad you noted that. Chairman Smith, when did the Republicans submit their budget? Rep. Jason Smith (R-MO): You would need to ask the budget committee. Rep. Joe Neguse (D-CO): I would need to ask the budget committee. Mr. Estes. When did the Republicans submit their budget? [Pause] Only in the Rules Committee, by the way, could a witness lay blame at the president for being a few weeks late in submitting his budget when his party hasn't submitted a budget, period. 1:06:45 Rep. Brendan Boyle (D-PA): We also run the risk that we will one day not be the reserve currency of the world. The reason why our interest rates are so low comparatively, is because we are a safe haven for investment for the rest of the world. These sort of antics increasingly bring that into doubt whether or not folks will get their money, the folks who are lending to us. 1:24:15 Rep. Teresa Leger Fernandez (D-NM): Now, Standard and Poor's, they downgraded our credit rating. Have they increased that credit rating? Rep. Brendan Boyle (D-PA): No. There are three credit agencies Standard and Poor's, which was the one that downgraded us in 2011, never reversed their downgrade. And frankly my concern and the worry right now is that the other two credit agencies will now follow suit, given the events of the last couple of months, which obviously look very much like 2011 all over again. 1:50:55 Rep. Jim McGovern (D-MA): I continue to be stunned by the fact that when I look at this deal, which focuses on discretionary funding, that the people who seem to be asked to do the most or to absorb the hits the most are the people that least can afford it. The military budget is part of this discretionary budget, it's over 50% of the discretionary budget. The United States spends more on national defense than China, Russia, India, Saudi Arabia, United Kingdom, Germany, France, South Korea, Japan and Ukraine combined. And yet, if this moves forward, we see an increase in defense spending. I mentioned in my opening remarks, I don't know how many of you saw the 60 minutes piece the other day, I mean, we all know, of the cost overruns in the Department of Defense. I mean, the idea that we're spending $10,000 for a $300 oil switch. I mean, it's been there for a long time, and yet, we seem unable to want to grapple with that waste and those cost overruns. I don't know if it's the defense lobbyists or the campaign contributions or whatever it is, but somehow, when it comes to the military budget, you know, not only are we not holding them accountable, but you know, we say we're going to increase it even more, even more, we'll give you more. 2:57:40 Rep. Chip Roy (R-TX): Look, I'm for NEPA reforms 100%. We need them for road projects, transportation, particularly for our energy industry. But my concern here that we've got language that none of us have fully reviewed, going through the committees of jurisdiction that has been adopted, that I've got colleagues texting me and saying they're not 100% sure if that language is good or bad for the purpose intended. I've got colleagues on both sides of the aisle that have raised those questions. And so the purpose intended, of course, is to streamline projects, whatever those projects may be. But I've got a text right here from GOP colleagues saying, Well, I'm not so sure that these will actually do what we think they will do, to streamline said projects. And in fact, a former high up in the administration, in the Energy Department under the Trump administration, just validated that concern by one of my colleagues. Yet we are putting forward this measures saying some grand improvement with respect to NEPA, that that's somehow something we should be applauding when it's not the full package of H.R. 1, which had gone through committee. And importantly, the one thing that I think is 100% clear, is that this bill fails to include even the most basic reform to President Biden's unreliable energy subsidies that were put forward in the so called inflation Reduction Act for the wealthy, elites, corporations, and the Chinese Communist Party just to be blunt. And frankly, it ensures that permitting reform will likely benefit renewables the most. Basically, if you're a government that is subsidizing the crap out of something, in this case, unreliable energy, giving massive subsidies to billion dollar corporations, giving significant subsidies to families that make over 100,000, 300,000 for EVs, because you're chasing your your dreams of, you know, a fossil fuel-less world. You're going to absolutely decimate our grid because you're not going to have the projects being developed for the gas and the coal nuclear that are actually required to keep your grid functioning. But yeah, that's what we're doing and I just for the life of me can't understand why we're applauding that. 3:15:50 Rep. Jason Smith (R-MO): So we've been asking for the IRS to give us a plan of how they wanted to spend the additional $80 billion that they had. They finally gave that to Congress about six weeks, eight weeks ago. They broke down how they're spending the $80 billion: $1.4 billion of it was for hiring more agents and what the bill before you does, it eliminates that $1.4 billion for this year. House Session May 25, 2023 Highlighted Transcript House Session, Morning Hour, Parts 1 & 2 May 24, 2023 Highlighted PDF How the Pentagon falls victim to price gouging by military contractors May 21, 2023 60 Minutes The Rich Get Richer, Deficits Get Bigger: How Tax Cuts for the Wealthy and Corporations Drive the National Debt May 17, 2023  Senate Budget Committee Witnesses: Bobby Kogan, Senior Director, Federal Budget Policy, Center for American Progress Bruce Bartlett, Former Deputy Assistant Secretary for Economic Policy, United States Department of Treasury Samantha Jacoby, Senior Tax Legal Analyst, Center on Budget and Policy Priorities Dr. Adam Michel, Director of Tax Policy Studies, Cato Institute Scott Hodge, President Emeritus & Senior Policy Advisor, Tax Foundation Clips 32:25 Bobby Kogan: Today I intend to make two points. First, without the Bush tax cuts, their bipartisan extensions, and the Trump tax cuts, the ratio of debt to GDP would be declining indefinitely. And second, our rising debt ratio is due entirely to these tax cuts and not to spending increases. Throughout this testimony, When I say spending, I mean primary spending, that is spending excluding interest on the federal debt, and every mention of revenues, spending deficits, and debt means those amounts as a percent of GDP. Okay, according to CBO primary deficits are on track to stabilize at roughly 4% over 30 years, high enough to cause the debt to rise indefinitely. The common refrain that you will hear, that I heard when I staffed this committee, and that unfortunately, I expect to hear today, is that rising debt is due to rising spending. Revenues have been roughly flat since the 1960s and while spending was also roughly flat until recently, demographic changes and rising healthcare costs are now pushing the costs up. These facts are true. Our intuitions might reasonably tell us that if revenues are flat, and spending is rising, then the one changing must be to blame. But our intuitions are wrong. In CBO's periodic long term projections earlier this century, spending was projected to continue rising, but despite this CBO routinely projected long term debt stability, It projected revenues to keep up with this rising spending, not due to tax increases, but due to our tax code bringing in more as our country and the people in it prospered. That prosperity results in both higher revenue collection and higher real after tax income for the people whose incomes are growing, it is a win win. In other words, we used to have a tax system that would fully keep pace with rising spending. And then the Bush tax cuts were enacted and expanded, and then on a bipartisan basis eventually made largely permanent in 2013. Under the law dictating CBO and OMB's baseline construction, temporary changes in tax law are assumed to end as scheduled. In practice this meant that CBO is projection showed the Bush tax cuts ending on schedule with the tax code then reverting to prior law. 2012 was therefore the last year in which CBO is projections reflected the Bush tax cuts expiring. Yes, CBO's 2012 long term projections showed rising spending, but it also showed revenues exceeding spending for all 65 years of its extended baseline with indefinite surpluses, CBO showed debt declining indefinitely. But ever since the Bush tax cuts were made permanent CBO has showed revenues lower than spending and has projected debt to rise indefinitely. And since then, the Trump tax cuts further reduced revenues. Without the Bush tax cuts, their bipartisan extensions, and the Trump tax cuts, debt would be declining indefinitely, regardless of your assumptions about the alternative minimum tax. Two points explain this. The first employs a concept called the fiscal gap, which measures how much primary deficit reduction is required to stabilize the debt. The 30 year fiscal gap is currently 2.4% of GDP, which means that on average primary deficits over 30 years would need to be 2.4% of GDP lower for the debt in 2053 to be equal to what it is now. The size of the Bush tax cuts their extensions and the Trump tax cuts under current law over the next 30 years is 3.8% of GDP. Therefore, mathematically and unequivocally without these tax cuts, debt would be declining as a percent of GDP, not rising. 41:45 Bruce Bartlett: The reason I changed my mind about taxes and decided that we needed tax increases happened on a specific day that I'm sure Senator Grassley remembers, if nobody else. And that was the day in November of 2003, when the Medicare Part D legislation passed, and I was just, you know, at the time, I thought the reason Republicans, and I was a Republican in those days, were put on this earth was to control entitlement programs. And I was appalled that an entirely new entitlement program was created that was completely unfunded. It raised the deficit forever by about 1% of GDP. And I thought a dedicated tax should have been enacted, along with that program, which I didn't oppose and don't oppose. In fact, I benefit from it at my age. But I just think that we need proper funding. And that was when I first started saying we needed to raise taxes, because we just can't cut discretionary spending enough to fix the problem. And I think this is the error of the House budget, which cuts almost entirely domestic discretionary spending, doesn't even touch defense, and I just think that's extraordinarily unrealistic and an unserious approach to our deficit problem. We simply have to do something about entitlements. If you're going to control spending, control the budget on the spending side, I don't think we're going to do that. I think we need a new tax. I have advocated a value added tax for many years, as a supplement to our existing tax system. It creates, you can raise a lot of revenue from it every virtually every industrialized country has one. The money could be used to fix things in the tax code, as a tax reform measure. Once upon a time in the 70s, and even the 80s, it was considered the sine qua non of Republican tax policy, because it's a consumption based tax system, a flat tax, and now many Republicans are in favor of something called the Fair Tax which is very similar except that it won't work. Administratively it's poorly designed. The Value Added Tax will work and that's why it should be a better approach to these problems. 49:15 Samantha Jacoby: Wealthy people who get their income from investments accumulate large gains as those assets go up in value over time, but they won't owe income tax unless they sell their assets. And if they never sell, no one will ever pay income tax on those gains. That's arguably the biggest flaw in the tax code. Policymakers should consider a tax like President Biden's budget proposal to enact a minimum tax on very wealthy households. This would treat unrealized capital gains, which is the primary source of income for many wealthy households, as taxable income instead of letting income accrue tax free across generations. 54:15 Dr. Adam Michel: Keeping government small is the best way to ensure that the American people can continue to prosper. 58:45 Scott Hodge: There are many elements of the tax code that benefit the wealthy and big corporations, I absolutely agree, and the inflation Reduction Act is the most recent example of corporate welfare in the tax code. 1:01:00 Samantha Jacoby: So the the 2017 law, it dramatically changed the way that foreign profits are taxed of multinationals. And so what happens now is large corporations who have big, big foreign profit centers, lots of foreign profits overseas, they pay a lower tax rate on those foreign profits than they do on their domestic profits or purely domestic businesses pay. 1:02:55 Bruce Bartlett: And one of the things I tried to do in my prepared testimony is look at what has actually happened in the seven years since then. And very few studies, I know, some of the tests, the footnotes and my colleagues testimony or to our projections based on studies were done in 2017, 2018. I tried to find things that were written more recently, perhaps, or preferably, I should say, in the academic literature, which I think is more substantive and more dependable. And I looked at peer reviewed journals, and the data that I could find showed no macroeconomic impact whatsoever. It didn't raise growth, it didn't lower growth. And I think I concluded in that -- Sen. Sheldon Whitehouse (D-RI): It did shift wealth, correct? Bruce Bartlett: Excuse me? Sen. Sheldon Whitehouse (D-RI): It did shift wealth. Bruce Bartlett: Oh, absolutely. No question about that. But I'm more interested in the macroeconomic effect on investment and growth and employment. And I would just close by saying that if a tax cut had no positive impact, then it can't have any negative impact if you get rid of it. Now, you may not want to for other reasons.... 1:05:25 Bobby Kogan: Right. So our demographic changes and rising healthcare costs are the reason that spending is increasing. If you break spending into two categories, Medicare, Medicaid, Social Security, everything else, including the everything else entitlements, the everything else is shrinking as a percent of GDP and it's the Medicare, Medicaid and Social Security that are growing. And they are growing not because they are getting more, they're doing more, it's not because we're giving more and more to seniors, and to extremely poor people, but because it costs more to do the same. And that is the rising that is the demographics is changing the ratio of non workers to workers and there's also the rising health care costs. And so what this means is that if you want to spend less, you are necessarily saying that future seniors should be getting less of a benefit than they're currently getting. That's the only way to do it. Since that's the portion of the budget that's growing, if you want to cut that, you have to say that the current amount that we're doing for Social Security recipients, the current amount that we're doing for seniors, the current amount that we're doing for people on Medicaid is too much, and future people should be having less. That's the only way to do it. And, you know, the very nice thing that I had though, ii my testimony, we used to have a tax system that despite that rising, we keep up with that, and now we don't. 1:15:50 Bruce Bartlett: Well, first of all, I think in terms of tax shelters and tax evasion and extreme levels of tax avoidance, the problem isn't so much with the law as with the enforcement. And as you know, it's been the policy of Republicans to slash the budget of the IRS in real terms, for many years, which is a way of giving, privatizing tax avoidance to rich people and the rich individuals have the greatest power and ability to evade taxation. And I think it was really wonderful that the Congress increased the IRS budget, and I think it's just the height of absurdity that one of the major elements of the House Republican proposal is to slash the IRS budget again, even though the CBO has said this is a revenue losing proposition. 2:06:40 Bruce Bartlett: I think there's absolutely no question that the debt limit is unconstitutional, and not just under the 14th Amendment, section four, but under the general powers of the President. I mean, one of the things that I will point out is that the debt limit is a very serious national security issue. A huge percentage of the national debt that is owned by foreigners is owned by foreign central banks. They are not going to be happy if their assets are suddenly worth a great deal less than they thought they were. I think the President has full power within his inherent authority to simply declare the debt limit null and void. And I would point out that it's not a simple question of whether you just break the debt limit. I think a lot of people, even on this committee, forget the impoundment part of the Budget Act of 1974, which says the President must spend the money that is appropriated by law, he doesn't have the choice not to, which is what some Republicans seem to think that he can do. And he lacks that power. So I would agree that the President has that power. I wish he would use it. I wish it as sincerely as anything I believe in life. Thank you. Senate Session May 16, 2023 Highlighted PDF House Session May 16, 2023 Highlighted PDF Senate Session May 15, 2023 Highlighted PDF House Session May 10, 2023 Highlighted PDF Senate Session, Parts 1 & 2 May 19, 2023 Highlighted PDF Senate Session May 9, 2023 Highlighted PDF Senate Session May 4, 2023 Highlighted PDF Senate Session, Parts 1 & 2 May 2, 2023 Highlighted PDF Music Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) Editing Pro Podcast Solutions Production Assistance Clare Kuntz Balcer

Politicians on both sides of the aisle often get carried away with designing new or expanded tax programs without considering what is already in the tax code. Adam Michel details how to make it simpler. Hosted on Acast. See acast.com/privacy for more information.

Tomorrow is Tax Day. Filing isn't easy. It's so difficult that in 2021, 35 million returns were flagged for errors. Even IRS employees struggle to understand the tax code. They have hundreds of pages of instructions. Adam Michel from CATO shares 4 ways that Congress can simplify taxpaying. See omnystudio.com/listener for privacy information.

Presidents are known to make rosy assumptions when they propose budgets to Congress. How realistic are they? Cato's Adam Michel comments on the recent White House budget proposal. Hosted on Acast. See acast.com/privacy for more information.

Worship pastor Adam Michel joins the podcast to discuss his time raising up worship teams and musicians in the church. Jason and Daniel share one of their favorite embarrassing moments.

Worship pastor Adam Michel joins the podcast to discuss his time raising up worship teams and musicians in the church. Jason and Daniel share one of their favorite embarrassing moments.

John talks with the Heritage Foundation's Adam Michel about how the American Rescue Plan will make cutting taxes harder and growing the size of government easier. See omnystudio.com/listener for privacy information.

Senior Policy Analyst, Grover M Hemann Center for the Federal Budget at the Heritafe Foundation, joins us to discuss the push for governors not to take the bail out money being offered by the federal government.

Heritage's Adam Michel joins Mike Ferguson to discuss a recent piece he published for Heritage.  See omnystudio.com/listener for privacy information.

Tuesday, March 16th, 2021, Larry Conners addresses Congressman Kevin McCarthy’s trip to the southern border, explaining the truth to what the left does not want to show the public. Instead they blame Trump for causing the crisis, but in reality, it’s a disaster. Adam Michel, expert in tax policy and federal budget with The Heritage [...] The post AL GORE: “BIDEN, BEST FIRST FIFTY DAYS SINCE FDR” / 1PM LC-USA 3–16-21 appeared first on Larry Conners USA.

Where's Hunter?          Today:    That's not a question you hear every day in the media with the exception of FoxNews.  John wonders about the media's lack of interest.  First up, Ann McElhinney, co-producer of “My Son Hunter” an upcoming expose of the Hunter Biden story.  Later, Adam Michel, Senior Fellow at the Heritage Foundation critiques the $1.9 Trillion recovery bill.  See omnystudio.com/listener for privacy information.

Happy tax season! Adam Michel, Senior Policy Analyst at the Heritage Foundation,  joins us this week to discuss the federal tax system, expenditures, and potential tax policy improvements. 

* Note: This segment aired prior to Congressional approval of a COVID stimulus spending plan and the President's pushback against the amount of the direct payments. Heritage Foundation Senior Policy Analyst Adam Michel reviews the proposal to send another round of direct payments to Americans. Michel addresses the arguments for the payments and discusses the possible economic effects of the borrowing and spending.

Jane, Dara, and Matt on the congressional deadlock over economic aid. Resources: "“The jobs aren’t there”: Why cutting off enhanced unemployment benefits would leave workers in the lurch" by Li Zhou, Vox "Senate GOP Coronavirus Bill Has Some Good Provisions but Needs Serious Work" by Adam Michel, Rachel Greszler, Lindsey M. Burke, & Brian Finch, Heritage Foundation "The Zombie Reaganism Trap" by Peter Spiliakos, National Review White paper Hosts: Matt Yglesias (@mattyglesias), Senior Correspondent, Vox Jane Coaston (@cjane87), Senior politics correspondent, Vox Dara Lind (@DLind), Immigration reporter, ProPublica Credits: Jeff Geld, (@jeff_geld), Editor and Producer The Weeds is a Vox Media Podcast Network production Want to support The Weeds? Please consider making a contribution to Vox: bit.ly/givepodcasts About Vox Vox is a news network that helps you cut through the noise and understand what's really driving the events in the headlines. Follow Us: Vox.com Facebook group: The Weeds Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam Michel focuses on tax policy and the federal budget as a Senior Policy Analyst in the Grover M. Hermann Center for the Federal Budget at The Heritage Foundation. He discusses how lawmakers from both parties are making a mistake by increasing the debt as they throw money at the problem.

Rod Arquette Show Daily Rundown - Thursday, August 29, 20194:20 pm: Congressman Rob Bishop joins the show to discuss why he says the federal government should not play any role when it comes to a state’s public school policies5:05 pm: Dr. Matt Harris, Professor of History at Colorado State University-Pueblo and an expert on Mormon history, joins the show to discuss how the LDS Church is seemingly moving away from its historically right-wing conservative roots with its new gun policy6:05 pm: Steve Moore, Chief Economist for The Heritage Foundation, joins the show for his weekly visit with Rod on politics and the nation’s economy6:20 pm: Adam Michel, a Senior Policy Analyst in Fiscal Policy for the Heritage Foundation, joins the show to discuss why he says minimum wage hikes are not a factor in the nation’s rising wages6:35 pm: Tommy Schultz, National Communications Director for the American Federation for Children, joins the show to discuss the growing fees at America’s public schools

Today we’ll talk with Senior Policy Analyst, Adam Michel, on the actual cost of tuition free college, the green new deal, and Socialist health care. And we’ll reprise my conversation with Don Everts, author of “The Reluctant Witness: Discovering the Delight of Spiritual Conversations” (IV Press).See omnystudio.com/listener for privacy information.

Today we’ll talk with Senior Policy Analyst, Adam Michel on the truth about how much Americans are paying in taxes and Larry Gadbaugh, First Image CEO about changes happening at First Image.See omnystudio.com/listener for privacy information.

Fact, the amount of your tax refund has nothing to do with how big your tax cut was. But if you’ve watched the news lately you wouldn’t know that. This week, Heritage expert Adam Michel explains what your refund check really is, why it has nothing to do with President Trump’s tax cuts, and the specific ways in which our tax laws truly did change for the better. See acast.com/privacy for privacy and opt-out information.

Adam Michel of the Heritage Foundation gives insight into Sen. Warren's plan grab wealth.

Adam Michel, Heritage FoundationJim Kennedy, Kennedy Institute for Public Policy Research

The Republican tax cuts are losing popularity among Americans, in spite of more money being placed in their pockets, and a booming economy that is creating opportunity for all. How can it be that Obamacare (fewer options, lower quality, and more expensive) is more favorable than the tax cuts? This week, we talk with Adam Michel and Jordan Hess to correct the record, and provide listeners with ammunition to fight back against the left's narrative. See acast.com/privacy for privacy and opt-out information.

Neal and Rich discuss the US economy with:Adam Michel,Policy Analyst, Thomas A. Roe Institute for Economic Policy Studies, Heritage FoundationElaine Parker, President,Job Creators Network Foundation- Women doing great in Trump economy Paul Rubin, Samuel Candler Dobbs Professor of Economics, Emory University- The importance of teaching economics to young adults

Rod Arquette Show Daily Rundown - Monday, October 8, 20184:20 pm: Adam Michel, a policy analyst and tax expert for the Heritage Foundation, joins the show to discuss the benefits of recent federal tax reform for Utah families4:35 pm: Karol Markowicz, an Opinion Contributor to the New York Post, joins the show to discuss how the Kavanaugh confirmation story presented another segment of what she calls the media’s “what women think” scam6:05 pm: Utah Attorney General Sean Reyes joins Rod to preview this week’s Opioid Solutions Summit, which brings together city and state leaders with other shareholders to discuss the opioid epidemic6:20 pm: Karen O’Keefe, State Policies Director for the Marijuana Policy Project, joins Rod to discuss why she says the state of Utah could very well be a guinea pig with regards to distribution of medical marijuana in America6:35 pm: Joel Kotkin, Professor of Urban Studies at Chapman University and a frequent contributor to the Orange County Register, joins the show to discuss his recent piece about how America continues to win despite who is occupying the White House

Adam Michel with the Heritage Foundation joins Rick today to discuss President Trump's tax law & the real impact it's having on working class Americans. You can call in to the show to talk with Rick any time at (833) 711-RICK. That's (833) 711-7425.

Unemployment is at a 17-year low and wages are rising faster than they have since 2009. But just as we're about to celebrate, sadly Congress is on it’s way to undo it all. This week, Adam Michel, a Policy Analyst in Heritage’s Thomas A. Roe Institute for Economic Policy Studies, explains how Congress is ruining tax reform. See acast.com/privacy for privacy and opt-out information.

Today we’ll talk with Phil Cooke, co-author of “The Way Back: How Christians Blew Our Credibility and How We Get It Back” (Worthy) and Adam Michel, Senior Policy Analyst in Fiscal Affairs at The Heritage Foundation on the massive Omnibus budget bill released late last night and passed in the House earlier today.See omnystudio.com/listener for privacy information.

Justice and Drew are joined by several great guests, including Adam Michel to talk tax cuts, Senator Karin Housely to discuss Dayton's infrastructure bonding, and Rep. Jason Lewis to discuss immigration, Trump's wall, and more.

GUESTS Segment 1 - 3: Tax Reform! What does it all mean for citizens? Adam Michel joins the program to share insights. Segment 4: The Cults. What are they like inside, and what can happen if you discover that what they practice may not be as genuine as claimed? Cult survivor, Athena Holtz joins the program to share her story.See omnystudio.com/listener for privacy information.

GUESTS Segment 1 - 3: You have heard about it on the news about the tax reform for 2017. So what are we to make of all of it? Policy analyst for the Heritage Foundations Thomas A. Roe Institue for Economic Study, Adam Michel joins the program to share insights. Segment 4: The Pacific Justice Institue requests for the Supreme Court to review law that discriminates against those who are pro-life. What is the status of the proceedings? Brad Dacus, constitutional lawyer and president of the Pacific Justice Institute joins the program to share insights on the progress.See omnystudio.com/listener for privacy information.

Tax Cuts and Jobs Act with Adam Michel and Rachel Greszler

This week on Mass Ave, Tommy and Emily touch on the tragic shooting that occurred in Las Vegas. Next, we’re kicking off this week with “Deregulation Day”. Heritage expert Diane Katz provides analysis of the Trump Administration’s handling of regulatory reform so far. In our Ask the Expert segment, we have a doubleheader featuring Chairman Kevin Brady of the Ways & Means Committee and policy analyst Adam Michel about the tax reform plan. See acast.com/privacy for privacy and opt-out information.

Policy analyst Adam Michel joins us to talk about President Trump's tax reform plan. Then, we talk to Dan Doctoroff about how cities ravaged by hurricanes in Texas and Florida can recreate themselves in the wake of massive destruction.Image credit: United Nations Photo/Flickr

Taxing and Spending with Romina Boccia and Adam Michel

The Christian Outlook — August 26, 2017President Trump announces his plan for a path forward for our efforts in Afghanistan. Kevin McCullough turns to Robert Spencer, author of the “Politically Incorrect Guide to Islam,” concerning the horrific events last week in Barcelona. Georgene Rice speaks with Adam Michel of the Heritage Foundation about congressional tax reform. Andrew Guernsey of the Family Research Council shares with Georgene Rice about why down syndrome disappearing in Iceland. Hugh Ross of the ministry “Reasons to Believe” joined Eric Metaxes to share about the eclipse and how it tells us about God, ourselves, and our very unique place in the universe. Bestselling author Randy Alcorn shares with Frank Sontag some viewpoints in his latest book, “Truth: A Bigger View of God's Word,” and how there is a temptation in the church to sit back and let others serve. In the wake of the white nationalist rally in Charlottesville earlier this month, Tony Evans of the Family Research Council calls for a national day of prayer.See omnystudio.com/listener for privacy information.

Today we'll talk with Dee Brestin, author of “He Calls You Beautiful: Hearing the Voice of Jesus in the Song of Songs” (Multnomah), Heritage Foundation's Adam Michel regarding efforts to hammer out a tax reform package, and Laura Kiel, with an invitation to the Kiel Mortgage Reverse Mortgage Seminar, 1:00 PM, Saturday, August 19, at Jantzen Beach Bar & Grill, 909 N Hayden Island Drive, in Portland. For information and to register go to www.kielmortgage.com.See omnystudio.com/listener for privacy information.

Emily Vanderbush and Tommy Binion analyze this week's activity on Capitol Hill, including former FBI directory James Comey's testimony before Congress. Heritage Foundation legal expert Hans von Spakovsky shares his perspective, plus Heritage tax expert Adam Michel on the state of tax reform. See acast.com/privacy for privacy and opt-out information.

Adam Michel, policy analyst in the Thomas A. Roe Institute for Economic Policy Studies, discusses how tax reform, if done right, can give life to the economy. The Daily Signal's Jarrett Stepman lays out how Trump can "drain the swamp" by firing federal workers. See acast.com/privacy for privacy and opt-out information.