An Economy for All

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The Case

Why An Economy for All?

Conservatives call the state of the economy the “greatest story never told,” but in reality it’s an economy reminiscent of the Gilded Age. The myth of a booming economy does not reflect the everyday experiences of working-class Americans. In fact, most Americans see the nation either in or near a recession. We need a broad reassessment of our economic policies.more »

Minimum Wage Hike: Stimulus When We Need It

On July 24, the federal minimum wage increased to $7.25 an hour. At a time when getting money into the hands of workers—and thus consumers—is key to jump-starting the economy, a 10.7 percent wage increase will mean $1.6 billion in extra purchasing power for the estimated 4.5 million workers directly affected by the increase. more »

The Facts

Manufacturing Jobs Decline 17% Past Seven Years

Between 2001 and 2007, more 3 million manufacturing workers lost their jobs—a 17 percent decline.

Unfair Taxes, Benefit Wealthy, Hurt Middle Class

Today, the top federal income-tax rate for ordinary income is 35 percent, meaning that earned income is taxed at a rate 2 1/3 higher than income from capital gains

The Case

The Tax Expenditure Of The 1%

The Tax Policy Center’s new report on the distribution of tax expenditures strengthens the case for increasing tax progressivity and raising needed revenue by ending the preferential treatment of capital income (subject to a 15 percent tax rate versus a top marginal income tax rate of 35 percent). TPC’s analysis looks at seven broad categories of individual income tax expenditures: exclusions, above-the-line deductions, the preferential treatment of capital gains and dividends, itemized deductions, nonrefundable tax credits, refundable tax credits, and other miscellaneous tax expenditures. Guess which category of tax expenditure provides by far the most lopsided benefit to upper-income households?more »

The GOP's Nonsensical Attempt to Paint Elizabeth Warren as a Hypocrite

George Washington was a hypocrite. O.K., that’s not what I believe. But it’s apparently what Senator Scott Brown of Massachusetts believes. Mr. Brown, in his campaign for re-election, is going all out on the proposition that Elizabeth Warren is a big hypocrite. According to Brian McGrory, a columnist at The Boston Globe, Mr. Brown, a Republican, “seems to be fuming that his main Democratic rival, Elizabeth Warren, has done pretty well for herself financially.” You see, Ms. Warren has been crusading to help the endangered middle class — but she herself is a well-paid Harvard professor, who would end up paying higher taxes as a result of the policies she advocates. See the hypocrisy? Neither do I. I’ve written about this before; somehow the notion has entered our politics that supporting a cause that isn’t in your personal financial interest makes you a hypocrite. It’s really bizarre.more »

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