by Robert Turner, Senior Fellow
One could influence the hiring of effective teachers by school departments large and small.
The other could influence Congress. In particular, it could help shape the tax cut debate now building on Capitol Hill.
The first, written for the National Institute for Retirement Security, is titled “Win-Win: Pensions Efficiently Serve American Schools and Teachers.” Weller’s research concludes that pensions are a powerful tool in retaining experienced teachers, are associated with less income inequality, and are more efficient than defined contribution plans such as 401(k)s.
Professor Weller’s second report is a powerful refutation of an economic theory that is at the heart of the tax cut legislation being prepared in both the House and the Senate. Titled “Supply-side Follies: Wasteful Tax Cuts Will Not Boost the Economy,” the report debunks the idea that tax cuts for the wealthy and corporations will be reinvested or “trickle down” in a way that stimulates the overall economy. In fact, Weller argues, increased corporate profits are more likely to go toward increased dividends than to new investment.
And, looking historically at recent decades, he concludes that significant tax cuts have not generally been followed by economic stimulation, and significant tax increases have not been followed by a dampened economy.
Earlier last week, Christian Weller was interviewed at length about tax policy on CNBC.
Professor Christian Weller is in expert on private pensions, retirement income security, wealth inequality and asset development, financial institutions, and international economic development. He is also a senior fellow at the Center for American Progress.