[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f18SgTB0TPI3teM7FnBuCDuXYHDsYgdrZ6N-HSYzC0u0":3,"$fyjZyV3OmyEVvoht3273Bb7MfpbCYulUq9uVN4YGE8V4":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},176426,"Christina Romer","C",50,null,"christina-romer",[],{"quotes":13,"pagination":78},[14,23,29,35,41,48,54,60,66,72],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":22},2933842,"Tax increases appear to have a very large sustained and highly significant negative impact on output.",6,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\nChristina Romer, a renowned American economist, likely wrote or spoke these words during her tenure as Chair of the Council of Economic Advisers under President Barack Obama, from 2009 to 2010. At that time, the United States was grappling with the aftermath of the 2008 financial crisis, and policymakers were seeking to understand the effects of tax increases on economic growth.\n\n**The Hidden Insight**\nThe seemingly straightforward statement \"Tax increases appear to have a very large sustained and highly significant negative impact on output\" belies a more nuanced reality. Romer's words suggest that, counterintuitively, tax increases may not be the most effective tool for stimulating economic growth, despite the conventional wisdom that tax cuts can boost the economy.\n\n**How to Use This**\nModern professionals and creatives can apply this mindset by recognizing that, when faced with a complex problem, they should question the conventional wisdom and consider alternative solutions. Instead of relying on familiar but potentially ineffective strategies, they should be willing to challenge assumptions and explore innovative approaches to achieve their goals.",{"id":24,"quote_text":25,"author_id":5,"source_id":17,"has_image":18,"author":26,"source":27,"quote_tag":28,"commentary":9},2933832,"Climate change and dependence on foreign oil are problems that won’t go away on their own. Tabling plans to deal with them doesn’t make it easier for companies to plan and invest; it makes it harder.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":30,"quote_text":31,"author_id":5,"source_id":17,"has_image":18,"author":32,"source":33,"quote_tag":34,"commentary":9},2933826,"I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that’s something the president has said that we need to, as the economy recovers, have a plan in place for getting it down.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":36,"quote_text":37,"author_id":5,"source_id":17,"has_image":18,"author":38,"source":39,"quote_tag":40,"commentary":9},2933810,"A successful argument for a government manufacturing policy has to go beyond the feeling that it’s better to produce ‘real things’ than services. American consumers value health care and haircuts as much as washing machines and hair dryers.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":42,"quote_text":43,"author_id":5,"source_id":17,"has_image":18,"author":44,"source":45,"quote_tag":46,"commentary":47},2933797,"Tax increases appear to have a very large sustained and highly significant negative impact on output. Since most of our exogenous tax changes are in fact reductions, the more intuitive way to express this result is that tax cuts have very large and persistent positive output effects.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\nThis quote is attributed to Christina Romer, a renowned American economist, and her husband David Romer. It is likely from a research paper or academic presentation, given the technical language and focus on economic data analysis. At the time of writing, Christina Romer was likely grappling with the complexities of tax policy and its impact on economic growth, as she was a leading voice in the field of macroeconomics.\n\n**The Hidden Insight**\nThe counter-intuitive truth in this quote lies in the reversal of expectations: tax cuts are expected to stimulate economic growth, but Christina Romer's research suggests that tax increases have a larger negative impact on output. This finding challenges the conventional wisdom that tax cuts are the most effective way to boost economic activity, revealing a nuanced relationship between taxation and economic growth that defies simplistic assumptions.\n\n**How to Use This**\nTo apply this mindset today, a modern professional or creative should be willing to challenge their assumptions and consider the unintended consequences of their actions. By recognizing that the inverse of what seems obvious (tax cuts stimulate growth, tax increases harm it) may actually be true, they can approach complex problems with a more nuanced and open-minded perspective.",{"id":49,"quote_text":50,"author_id":5,"source_id":17,"has_image":18,"author":51,"source":52,"quote_tag":53,"commentary":9},2933787,"A natural way that an economist approaches a problem is to say, here’s where I think the economy is going; this is what we need to deal with the problem.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":55,"quote_text":56,"author_id":5,"source_id":17,"has_image":18,"author":57,"source":58,"quote_tag":59,"commentary":9},2933780,"If increasing income equality is the goal, it might be wiser to put money into infrastructure than to subsidize manufacturing. Construction also pays good wages, but with lower educational requirements. And America’s infrastructure needs are enormous.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":61,"quote_text":62,"author_id":5,"source_id":17,"has_image":18,"author":63,"source":64,"quote_tag":65,"commentary":9},2933760,"If you look at the studies coming out of the Congressional Budget Office, the number one thing that’s going to blow a hole in the deficit as we go forward 20, 30 years is government spending on healthcare.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":67,"quote_text":68,"author_id":5,"source_id":17,"has_image":18,"author":69,"source":70,"quote_tag":71,"commentary":9},2933734,"As a former member of President Obama’s economic team, I have a soft spot for the fiscal stimulus legislation he signed just a month after his inauguration.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":73,"quote_text":74,"author_id":5,"source_id":17,"has_image":18,"author":75,"source":76,"quote_tag":77,"commentary":9},2933714,"There’s a joke in economics about the drunk who loses his keys in the street but only looks for them under the lightposts. When asked why, he says, ‘because that’s where the light is.’ That’s the problem with the deficit.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"currentPage":79,"totalPages":80,"totalItems":8,"itemsPerPage":81},1,5,10]