James Pethokoukis

James Pethokoukis is the Money & Politics columnist-blogger for the American Enterprise Institute. Previously, he was the Washington columnist for Reuters Breakingviews. Pethokoukis has written for many publications including USNews & World Report, The New York Times, The Weekly Standard, Commentary, USA Today, and Investor's Business Daily. Pethokoukis is also an official CNBC contributor. In addition, he has appeared numerous times on MSNBC, Fox News Channel, Fox Business Network, The McLaughlin Group, CNN, and Nightly Business Report on PBS. A graduate of Northwestern University and the Medill School of Journalism, Pethokoukis is a 2002 Jeopardy! champion.
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Economics, Pethokoukis, Taxes and Spending, U.S. Economy

3 things account for 85% of higher government spending over the next decade

Federal spending is projected to rise by $2.3 trillion over the next decade, according to CBO. That average annual increase of 5.2% will help take the US debt/GDP ratio from 72% last year – and just 35% in 2007 – to 77% in 2024. This is key: just three parts of the budget account for 85% of that increase. read more >

Pethokoukis, Economics, Taxes and Spending

Can we please agree that workers probably bear some of the corporate tax burden? Science!

When economist try to model how corporate income taxes work in the real world, they find that Mitt Romney was right when he said, “Corporations are people, my friend.” Some chunk of the tax burden, perhaps a rather large chunk in the 40% to 75% range, falls on workers. Cutting the tax might just raise worker wages. read more >