Labor Income Dropped Off the Cliff Starting in 2000

By: Wednesday September 26, 2012 9:11 am

After Mitt Romney released his tax returns, there was a minor debate on the left over capital gains taxes. Clearly Romney’s low tax rate was a function of the reduced 15% rate on investment taxes like capital gains and dividends. And some made arguments about how this merely reflected classical economic thinking, that investment should [...]

Ruling Class Shows No Effects of Physiological Stress

By: Tuesday September 25, 2012 8:57 am

This is my This is my favorite scientific study of the year so far, even if it falls under the category of “scientific studies we didn’t need.” It turns out that the myth of high-stress positions of power is unfounded. Our lords of industry, our masters of the universe get along just fine. And if [...]

The Other Big Labor Dispute: The NFL Referees Lockout

By: Tuesday September 18, 2012 1:56 pm

As we wait for the outcome of the most high-profile labor dispute currently happening in America, the Chicago Teachers Union strike, I want to call attention to the other big labor action out there. National Football League referees have been locked out of the job since the beginning of the year. Four weeks of preseason [...]

The 47% Who Pay No Income Tax – A Pure Creation of Republicans, Serving Republican Needs

By: Tuesday September 18, 2012 6:16 am

You may have seen by now this chart, explaining the identity of the 47% (actually 46.4%) of Americans who “pay no income tax.” As you can see, around two-thirds of that subset do pay Social Security and Medicare taxes. If you count both sides of that tax, the employer and employee side, you get to [...]

Census Statistics Show Continued Decline in Median Income

By: Wednesday September 12, 2012 7:44 am

The US Census Bureau released median income, poverty and insurance stats today, all of which have a 90% confidence interval, meaning that there’s a fairly high margin for error. Still, the trends in median income are not encouraging, although the insurance stats bucked that trend. Here are the really bad median income statistics: Median family [...]

EPI Report Shows Inequality, Lack of Mobility Key Challenges for US Economy

By: Tuesday September 11, 2012 9:42 am

The Economic Policy Institute delivers an annual analysis of the “State of Working America,” and this year’s version was released today. In their key findings, they lament the rise of “policy-driven inequality,” a condition that, even when the job market improves, leads to the bulk of our economic growth funneling up to the 1%, while [...]

Rich Place Propaganda in NYT Reacting to France’s Proposal for High Marginal Tax Rate

By: Wednesday August 8, 2012 1:04 pm

One thing I think we can all take away from Mitt Romney’s travails with his tax returns is that rich people hate to pay taxes, and that they will try as hard as they can to prevent such payment. This is proven also by the wailing you might hear coming from “les Riches” in France, [...]

New England Journal of Medicine Study Shows That States Which Expand Medicaid Save Lives

By: Thursday July 26, 2012 10:16 am

Of all the tips and tricks being trotted out by partisans and health care advocates to pressure Republican governors to accept the Medicaid expansion, this may be the most useful for moral purposes: Into the maelstrom of debate over whether Medicaid should cover more people comes a new study by Harvard researchers who found that [...]

Democratic Tax Cut Plan Does Expand Middle-Class and Poor Tax Cuts, Paid for By Increases on the Wealthy

By: Tuesday July 24, 2012 11:09 am

While I’ve gone over how the Democratic and Republican tax plans scheduled to get a vote in the Senate this week are in many ways similar, I did not identify the points of difference, which are substantial in their own way, particularly in the direction that money would flow under the two plans. In particular, [...]

Report Details $21-$32 Trillion in Untaxed Global Wealth Parked Offshore

By: Monday July 23, 2012 11:38 am

The Tax Justice Network, an organization I frankly had never heard of until this weekend, came out with a study over the weekend alleging that between $21 and $32 trillion in global wealth is being hidden away in tax havens. This represents a sum equal to the GDP of the US and Japanese economces combined. [...]

Medicaid Expansion Rejection Would Particularly Impact People of Color

By: Friday June 29, 2012 8:15 am

I was just on a conference call where Governor Martin O’Malley (D-MD) was asked whether he thought Republican governors might opt out of the Medicaid expansion in light of the Supreme Court’s ACA ruling yesterday. He replied, “I don’t know. Some of our colleagues would like to get out of being members of the Union.” [...]

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