Cuts

  • 02.12.18

    What Trump Proposed Cutting in His 2019 Budget

    This article from the Washington Post outlines President Trump's budget proposal. It describes that "To pay for additional defense spending, the border wall and an infrastructure plan, funding would be cut from many executive departments and agencies, including big cuts at the Environmental Protection Agency and ...Read More

  • 02.06.18

    The Next Big Fight

    Fresh off passing massive tax cuts for corporations and the wealthy, Trump and congressional Republicans want to use the deficit they've created to justify huge cuts to Social Security, Medicare, and Medicaid. As House Speaker Paul Ryan says "We're going to have to get… at entitlement reform, which is how y...

    Fresh off passing massive tax cuts for corporations and the wealthy, Trump and congressional Republicans want to use the deficit they’ve created to justify huge cuts to Social Security, Medicare, and Medicaid.

    As House Speaker Paul Ryan says “We’re going to have to get… at entitlement reform, which is how you tackle the debt and the deficit.” 

  • 12.06.17

    GOP Tax Plan Viewpoints

    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 ...

    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

  • 12.02.17

    (Opinion) The GOP's Rush To Tax Cuts Was Brainless

    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 ...

    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.

  • 11.28.17

    The GOP Tax Plan: Who Pays More?

    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....

    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

  • 11.26.17

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

    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 legis...

    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

  • 10.03.17

    Common Tax ‘Reform’ Questions, Answered

    This article from the Economic Policy Institute explains "Why tax cuts for high-income households and corporations won't help working families." It debunks many of the statements that are used to support tax cuts on corporations and the wealthy while answering the following questions: Should tax cuts be today...Read More

  • 08.24.17

    Trickle-Down Tax Cuts Don’t Create Jobs

    This article from the Center for American Progress describes the ideas behind "trickle down economics" and explains why this theory does not work in practice. "Recent history and an abundance of economic research show that trickle-down tax cuts don't create growth or jobs; they lead only to widening inequality bet...Read More

  • 04.13.15

    Does More Government Help Or Hurt?

    In this video, Stephanie Kelton investigates the economic philosophy that states that smaller government will improve the economy. This philosophy in practice equates to: cutting taxes on the job creators to create more jobs. Kelton argues that this doesn't work. She presents Kansas as a case study where Kansas cu...

    In this video, Stephanie Kelton investigates the economic philosophy that states that smaller government will improve the economy. This philosophy in practice equates to: cutting taxes on the job creators to create more jobs.

    Kelton argues that this doesn't work. She presents Kansas as a case study where Kansas cut taxes on job creators. Rather than seeing an increase in job creation, Kansas' job creation is lagging behind the national average. The problem with this economic approach, Kelton argues, is that "It presupposes the most important part of capitalism: demand." Businesses hire when there is demand, not when they have fewer taxes. 

    Kelton then goes on to describe how government spending (and therefore larger government) can be a good thing and has been a good thing in the past. She suggests that these government programs would help boost the economy: federally funded jobs program, infrastructure investment, investment in education, and investment in research & technology.