Join us for "Ballot Battle: The 2024 Presidential Election," hosted by the Tulane Journal of Policy & Political Economy. This engaging panel will feature speakers from the Trump administration, human rights and immigration attorneys, and political science experts. Explore the implications of the 2024 election on key issues like immigration, economic policy, and Supreme Court reform. Gain insights from diverse perspectives and engage in a respectful, moderated debate.
Don't miss this opportunity for enlightening discussion and civic engagement that highlights the importance of informed participation in our democracy. Be part of the conversation shaping our nation's future! This was a great event on 10/8/2024! Originally posted at The Sentinal. Read my full testimony here or watch it at YouTube below at minute 38:00. Kansas is spending too much and needs to reform the way it creates the yearly budget, was the message Dr. Vance Ginn — a senior fellow at the Kansas Policy Institute, told a state legislature committee on Oct. 2, 2024. Dr. Vance Ginn Ginn, who was also the former chief economist in the White House Office of Management and Budget and is president of Ginn Economic Consulting, told the Special Committee on Budget Process and Development the “main problem of government” is how much is spent. “Unfortunately, in Kansas, there’s too much that’s being spent,” he said. “I know that’s why you’re looking at budget process reforms and how to spend less over time to make sure that you have the best use of taxpayer money that’s coming out of the productive private sector.” Ginn pointed to Colorado as a good example. “When you look at Colorado, which has (gone) from red to purple to blue over time, one of the things that’s helped them to restrain spending, no matter what the political situation has been, is their Taxpayer Bill of Rights,” Ginn said. “TABOR, as it’s called, is a spending limit that limits the growth of the budget to no more than population growth plus inflation, which is a good measure of the average taxpayer’s ability to pay for government spending. “Now it’s been weakened a little bit over time by some courts and by politicians and things of that nature, but it still has been able to hold their spending to population and inflation and keep taxes down lower than it otherwise would be.” Ginn noted that other countries are doing something similar as well. “We’ve also seen spending limits work in other countries. Sweden and others. The Swiss debt break is another example of that, ” he said. “So it’s not just the states, which I think is important, as we’re talking about here in Kansas today, but also to look at what other countries have done.” Ginn also suggested looking at a longer-term budget — if perhaps not as long as the federal government’s 10-year budget projections. “I don’t know how far in advance you want to go, but maybe a couple of years, two or three years, I think looks good to figure out what’s happening for the future,” he said. “How are the trends looking for different areas of the budget, whether you look at health care, education, transportation, I think those things are really important. It’s something that’s been able to work in Florida to help to restrain the spending over time.” Ginn suggested other measures as well, including independent efficiency audits, such as Texas uses, to help find waste within state departments. He also said the state should look at an annual budget analysis. “So you have the budget that’s passed, but then look at it throughout each year to ensure that those dollars are being spent wisely and that we’re getting the effectiveness — the intended goals are being met for each one of these programs as well,” he said. Ginn is also an advocate of “zero-based” and “priority-based budgeting,” as well. “I think it is really important to adopt priority-based budgeting,” Ginn said. “Zero-based budgeting is important. Start from scratch and build your way up. It’s kind of costly, it’s time consuming to do some of those things. But there’s also performance-based budgeting to make sure that you’re getting the performance out of these. So a combination of those is priority-based budgeting, which I think, if you’re looking at the annual reviews, would be a great opportunity for you all to make some suggestions, make some changes.” Spending per resident in 2022Kansas spent $4,941 per resident in 2022, excluding federal and debt-related spending, as reported by the National Association of State Budget Officers. By comparison, Colorado spent $3,935 per resident. Missouri ($3,110) and Oklahoma ($3,404) also spent a lot less per resident to provide the same services as Kansas. Only Nebraska spent more, at $5,268 per resident. Just getting to Colorado’s level of efficiency would save taxpayers almost $3 billion annually. Responsible Kansas Budget would meet many of Ginn’s suggestions Ginn pushed something KPI has proposed for two years now. “The Responsible Kansas Budget” is a model to achieve a sustainable budget through tax-and-expenditure limits based on transparency and performance-based budgeting, which will rein in government spending to avoid deficits. In 2022, KPI released its first edition of the Responsible Kansas Budget for 2023. The model proposed a limit on All Funds (state funds plus federal funds) appropriations in 2023 at $21.0 billion based on limiting spending increases to the combined rate of population growth and inflation. Instead, the Legislature approved an All-Funds budget of $22.9 billion—nearly $2 billion more than the RKB. The RKB uses a simple calculation of finding the growth rate of the state’s resident population and adding it to the growth rate of the state’s Consumer Price Index [a common measure of inflation] to set maximum appropriation limits. Indeed, from fiscal 2005, through fiscal 2023, state appropriations grew from $7.2 billion to 17.1 billion. Had the RKB’s appropriation limits been in place, the growth would have been to “only” $11.4 billion, saving Kansas taxpayers roughly $5.7 billion. Listen to my discussion with Mandy Connell.
And once again pass a giant Continuing Resolution to keep spending until the end of December. Do you really think they are going to craft and pass 12 spending bills before Christmas? No, they won't. That means either another Continuing Resolution or a giant pork filled Omnibus bill that allows everyone in Congress to hide the pork they are bringing back to their districts so they can keep getting re elected. I've got Former White House OMB Chief Economist, Vance Ginn, Ph.D., today at 2:30. We're talking about how Congress is pretending that there is not a spending crisis. It’s time to address the root issue — overspending. Excessive government spending and deficits lead to inflation, higher prices, and a weaker dollar. When the government runs deficits, the Federal Reserve prints more money by mostly buying Treasury securities to cover the deficit. Find Dr. Ginn's website and sign up for his newsletter here. I joined Don Ma on NTD News to discuss whether the Fed should cut interest rates. Don’t miss it!
Originally published at KTRH News Houston.
State budget officials believe Texas would have to spend about $81.5 billion a year to end property taxes. Reducing or even eliminating the state’s high property taxes has been something on the minds of Texas lawmakers for a handful of years now. The Texas Senate Finance Committee were presented the costs from the Legislative Budget Board recently. Just over half ($42 billion) would go to cover the property taxes collected by cities, counties and special taxing districts from last year. Economist Vance Ginn calls property taxes "fundamentally immoral." "I believe that they should be eliminated at the end of the day but of course with any sort of policy change nothing is free," he said. School property taxes make up a large portion of the figure too. Budget officials say that getting rid of all property taxes collected by school districts would cost the state $39.5 billion. "That's really where the focus is is the state eliminating the school portion first," Ginn said, who believes would take about a decade if state spending is seriously limited. Ginn also suggested using surplus money to buy down the school maintenance and property tax over time wouldn't be a bad idea either in eliminating nearly half of the state's property taxes. "There are ways to do this in a fiscally conservative way that can allow for Texas to get rid of property taxes within about a decade, certainly about half the property taxes, but they could even do all the property taxes if local governments would also limit their spending," Ginn said. According to Ginn, state lawmakers have put around $18 billion towards property tax relief with $12.7 billion in new relief approved during the last legislative session. However, there has not been much change overall in Texas property taxes. "There's more that needs to be done to reign in government spending at the local levels and the state level," said Ginn. "Reducing property taxes for Texans would be a huge relief for them." Interview on NTD News.
Vice President Kamala Harris has announced plans to raise both the corporate tax rate and the rates on capital gains taxes. According to Vance Ginn, the founder and president of Ginn Economic Consulting and a former chief economist at the White House’s Office of Management and Budget, these provisions will slow the economy and stifle investment. NTD spoke to him to find out more. Economics and Spending, National and Local on Qualified Opinions Podcast with Veronique De Rugy9/6/2024
Joining the show today is Vance Ginn. Vance is the founder and president of Ginn Economic Consulting, where he leverages data-driven insights to shape economic policy discussions across the nation.
Over the course of the show, Veronique and Vance discuss state and local government spending, federal spending, and the connection between the two. Unlock the Secrets of Housing Market Regulations and Real Estate Growth!
Discover how housing market regulations are reshaping real estate growth and affordability in 2024. Join Mike Mills and economist Vance Ginn, Ph.D., as they dive deep into the key policies, economic strategies, and insider insights every real estate professional needs to know. In this episode, you'll learn about the critical changes in housing market regulations and how they impact real estate growth and home affordability. Understand how fiscal policy, zoning laws, and commission structures are influencing market dynamics. Vance Ginn provides expert analysis on navigating these challenges to help Realtors and real estate professionals thrive in today's evolving landscape. Key Takeaways: Housing Market Regulations Explained: Learn how recent policy changes affect home prices, market competition, and Realtor strategies. Impact of Economic Policies: Understand how inflation, interest rates, and government spending shape the real estate market and what it means for your business. Navigating Property Tax Reforms: Discover actionable strategies to adapt to changes in property tax policies and maintain your competitive edge. Leveraging Knowledge for Growth: Get expert tips on using economic insights to drive real estate growth and stay ahead of market shifts. Don't miss out on these game-changing insights that could redefine your approach to real estate. Watch now to stay informed and ahead of the curve in 2024! 🔔 Like, Comment, and Subscribe for more in-depth discussions on real estate trends and strategies. Share your thoughts on the episode in the comments below and let us know which topic you'd like to see next! Links and Social Media: 🌐 Podcast Website: https://www.thetexasrealestateandfina... 🏠 Mike Mills Mortgage Website: www.millsteammortgage.com 📊 Vance Ginn's Website: https://www.vanceginn.com/
Originally posted here: https://www.politicsandparenting.com/p/the-economy.
Today on the show I am joined by Vance Ginn, Ph.D. A leading economist and advocate for free-market principles and fiscal conservatism. He is the former associate director for economic policy at the White House’s Office of Management and Budget and chief economist at the Texas Public Policy Foundation. He is the founder and president of Ginn Economic Consulting and host of the Let People Prosper Show podcast, providing high-impact economic consulting that dives deep into pressing issues with top influencers. He lives in Round Rock, Texas, with his family, championing policies that promote economic freedom and prosperity. We discuss inflation, debt, minimum wage, currency, and tariffs. This is a great episode for average citizens trying to get a handle on this complex topic. Be sure to follow Vance on X and Substack, and check out his new article out in the Freemen-News Letter. Parents rightfully demand transparency from their school districts, and too often schools hide how much they're spending and what they're spending taxpayer dollars on. Join Mandy Drogin as she sits down with Vance Ginn, dad of 3, founder of Ginn Economic Consulting, and formerly an economist in the Trump administration, as they break down school finance and dive into how much our schools are spending and what they're spending it on.
Fox News contributor Gary Kaltbaum and former Trump Office of Management and Budget chief Vance Ginn on the latest economic developments coming from the Federal Reserve and White House.
More here. Economist Vance Ginn joined "The Joe Pags Show" to highlight the stark contrasts between a Trump-led economy and the current Biden/Harris administration's approach.
Ginn began by criticizing the Democrats' anti-growth agenda, pointing out the dangers of Kamala Harris’s push for price controls, which he argued would hurt businesses and raise costs for consumers. He explained that the Biden/Harris administration has been increasing the national debt at an alarming rate, and excessive spending remains the top issue facing America. Ginn expressed concern over Harris's plans to continue this trend, warning that it could further destabilize the economy. On taxes, Ginn highlighted Harris’s proposal to raise corporate tax rates to 28%, which he said would lead to business closures, reduced hiring, and companies moving operations overseas. In contrast, Trump’s focus on deregulation and lower taxes helped the economy thrive before the pandemic. Ginn suggested that if Trump wins in 2024, his administration would likely prioritize deregulation and tax cuts to boost economic growth. The conversation also covered global trade and supply chain issues, with Ginn advocating for a balanced approach that promotes U.S. production by reducing regulations. He concluded by comparing Trump’s and Harris's stances on economic issues like eliminating taxes on tips, emphasizing the broader economic philosophies at play. To hear Vance Ginn’s full interview with Joe Pags, click the link below. https://news.iheart.com/featured/the-joe-pags-show/content/2024-08-22-trump-vs-bidenharris-economy-explained-by-vance-ginn/ I was on NTD News on August 15, 2024, to discuss the economic agenda for the Democrats and what that could mean to you. Check it out!
Vice President Kamala Harris is expected to call for a federal ban on price gouging in an effort to help lower grocery prices. The proposal is part of Harris’s efforts to prevent corporations in the food and grocery industries from hiking up prices. NTD speaks to Vance Ginn, founder and president of Ginn Economic Consulting, about the effectiveness of price controls regarding inflationary pressures in the food and grocery industry.
Former OMB chief economist Vance Ginn discusses what positive inflation data means for Fed rate cuts on 'Varney & Co.'
|
Vance Ginn, Ph.D.
|