Dartmouth's Daily Blog
News, commentary, criticism and praise for the College on the Hill, enlivened with history, culture and travel when we feel so moved.
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Where Does He Find the Time?
Some people seem to have more than 24 hours in their day. Economics Professor Andrew Samwick was New Hampshire Professor of the Year in 2009, and as I pointed out at the time, he wins the Dartblog award every year for the Professor Most Likely to be in His Office When I Happen to be Walking Through Rocky and Knock on His Door — he is almost always talking to a student. He is a nationally recognized expert on Social Securty, and in 2003 he served as the chief economist for the President’s Council of Economic Advisors. Though he has run the Rockefeller Center for a decade now, he still seems to be able to find time for research on topics of real moment. Here’s the abstract for his most recent publication (with Bill Gale): Effects of Income Tax Changes on Economic Growth.
This paper examines how changes to the individual income tax affect long-term economic growth. The structure and financing of a tax change are critical to achieving economic growth. Tax rate cuts may encourage individuals to work, save, and invest, but if the tax cuts are not financed by immediate spending cuts they will likely also result in an increased federal budget deficit, which in the long-term will reduce national saving and raise interest rates. The net impact on growth is uncertain, but many estimates suggest it is either small or negative. Base-broadening measures can eliminate the effect of tax rate cuts on budget deficits, but at the same time they also reduce the impact on labor supply, saving, and investment and thus reduce the direct impact on growth. However, they also reallocate resources across sectors toward their highest-value economic use, resulting in increased efficiency and potentially raising the overall size of the economy. The results suggest that not all tax changes will have the same impact on growth. Reforms that improve incentives, reduce existing subsidies, avoid windfall gains, and avoid deficit financing will have more auspicious effects on the long-term size of the economy, but may also create trade-offs between equity and efficiency.
A subject of importance to our ongoing national debate on economic policy, you will agree, no? Of note also, the paper was published by the Tax Policy Center of the Urban institute and The Brookings Institution.
Addendum: Samwick is one of the Economics department’s many rock stars. In the photo below, he chats in 2011 with then-outgoing Secretary of the Treasury Tim Geithner ‘83:
August 14, 2013
Breaking: Of Crips and Bloods and Memories of Ghetto Parties
History repeats itself, first as tragedy and then as farce, or sometimes it just repeats itself. From the New York Times on November 30, 1998: At Dartmouth College, white students at a ”ghetto party” dressed…
June 25, 2013
Dean of the College Charlotte Johnson’s War on Students Part (2/2)
Part 1, Part 2 Today’s post again recounts the events that befell the Freshman. However, the content of the Hanover Police department report reproduced in this space yesterday is supplemented by information from my own…
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…
- The Dartmouth College Case
- 2007 Trustee Election
- Dartmouth Constitution
- Sunday Morning Sinatra
- The Indian Wars
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