Economy & Economic Justice

Minimum Wage 101

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  • GOP Tax Plan Viewpoints

    December 2017

    With any piece of legislation, it is important to understand the reasons that people give for why it should be implemented, why it should not be implemented, and the data behind those reasons.

    The GOP tax plan is the largest overhaul in U.S. history. As we read about this piece of legislation, many of us exist in echo chambers where we can only read and see one viewpoint. 

    In this article, we expose you to varying viewpoints on the tax plan including:

    • A Republican's statement supporting the tax plan,

    • A Republican's statement opposing the tax plan,

    • A Democrats' statement opposing the tax plan, and 

    • An Independent's statment opposing the tax plan

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  • An Open Letter to the US Congress

    December 2017

    Both the House and the Senate have passed versions of a GOP tax plan. According to analyses from the Tax Policy Center, the CBO and numerous economists, both plans overwhelmingly benefit the wealthiest people in this country, and both will result in the loss of health insurance for some 13 million Americans. Meanwhile, research warns that millions will face higher taxes and a spike in their health insurance premiums in the years ahead. And there isn’t a single credible study that supports the claim that either of these tax plans will deliver the kind of economic growth - with higher wages and substantially more jobs — the GOP is touting to sell their plan.

    This is an open letter to the U.S. Congress signed by over 200 Ph.D economists that outline the economic arguments against the tax plan. 

     

    Tags: Tax Plan, Economy, GOP
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  • (Opinion) The GOP's rush to tax cuts was brainless

    December 2017

    I am writing from Beijing, China, where forward-looking policies in infrastructure, technology and diplomacy have fueled rapid economic growth and even more remarkable technological advancement. By the mid-2020s, China will most likely lead the world in key technologies for low-carbon energy, robotics and advanced transportation, among other areas targeted in China's long-term development strategy.

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  • You're The Real Job Creator

    December 2017

    As the GOP tax plan, officially known as the Tax Cuts and Jobs Act, awaits reconciliation with the House, the threat of a mounting deficit is once again in the news. 

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  • The GOP Tax Plan: Who Pays More?

    November 2017

    The GOP tax plan would significantly alter American taxes. How much would it change taxes? That depends on your income bracket. 

    This article provides three clear graphs that demonstrate the regressive nature of the GOP tax plan: It is better for the rich and worse for the poor.

    GOP Tax Plan Slide 2

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  • Senate Republican Tax Plan Hurts The Poor While Cutting Taxes For The Rich, CBO Finds

    November 2017

    This article outlines a key finding from the tax plan currently in the Senate. 

    It uncovers and describes some key findings from the CBO report on the plan: "The CBO found that negative impact for Americans earning less than $30,000 a year begin as soon as 2019. According to the report, that’s because the Senate Republican tax plan would eliminate the Affordable Care Act’s individual mandate - a move the CBO says would raise premiums by 10% a year and cause the poor to be unable to afford insurance."

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  • Congressional Budget Office Cost Estimate: The Tax Cuts and Jobs Act

    November 2017

    This report from the Congressional Budget Office investigates the Tax Cuts and Jobs Act currently being deliberated in the Senate. Its findings are essential when looking at decisions that will affect the future of the United States.

    Overall, the CBO finds that "Over the next 10 years, JCT estimates that the legislation would increase on-budget deficits by about $1,441 billion over the period from 2018 to 2027."

    It also describes how this legislation would "permanently modify business taxation" by reducing the overall rate from 35% currently to 20% and alter a significant number of taxes for individuals including: modifying the current tax brackets, increasing the standard deduction, repealing the Alternative Minimum Tax, double the exemption allowed under the estate tax, and others. 

    It also reveals that these changes will disproportionately benefit individuals in higher income brackets.

    CBO Tax Score Table 3

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