The income tax on individuals and the payroll tax, which is deducted from workers’ wages and used to help finance Social Security and Medicare, each made up about 40 percent of federal revenues in 2010. The federal government also collects revenue from corporate taxes, excise taxes, and other sources.
Policy Basics: - The Child Tax Credit - The 2001 and 2003 Tax Cuts - Where Do Our Federal Tax Dollars Go? - The Estate [...]
By Chad Stone, Hannah Shaw, Danilo Trisi and Arloc Sherman ||
Some very interesting data compiled by the Center on Budget and Policy Priorities….
The broad facts of income inequality over the past six decades are easily summarized:
- The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity.
- Incomes grew rapidly and at roughly [...]
Thank you to the folks at Inequality.org for providing this great information!
Inequality data and statistics give us an important insight into the state of our economy and the health of our society.
In this section, we offer quick takes on economic inequality, as categorized in five key areas: income, wealth, global, health, and racial. In each category, we chart some inequality statistics and discuss the basic [...]
Wow, she is running for congress. It would be great to have someone in there who isn’t afraid to tell it like it is. Lets all rally behind Elizabeth Warren! She understands the problems, the causes, and what we need to do going forward!
Elizabeth Warren to middle class: ‘The system is rigged’
Published September 05, 2012 | Fox News
Elizabeth Warren, trying to win a Senate seat in [...]
September 05, 2012|Samuel P. Jacobs | Reuters
CHARLOTTE, North Carolina (Reuters) – Locked in one of the costliest and most consequential statewide contests in the country, Elizabeth Warren largely ignored her own campaign Wednesday night to paint President Barack Obama as a populist up against a Republican who has sided with plutocrats.
A candidate for the U.S. Senate in Massachusetts, Warren was chosen by the Democratic Party to appear on [...]
How Romney Keeps Lying Through His Big White Teeth By Robert Reich
Tuesday August 28, 2012
“We’re not going to let our campaign be dictated by fact-checkers,” says Neil Newhouse, a Romney pollster.
Presumably the Romney campaign continues its false claims because they’re effective. But this raises a more basic question: How can they remain effective when they’ve been so overwhelmingly discredited by the media?
The answer is the [...]
By Jeff Brittain
Germany and Denmark are two countries that, though geographically close, have approached one aspect of their economy in drastically different ways. They may both be considered CME’s (Coordinated Market Economies), but there are striking differences in their labor relations systems, which have important consequences. A good illustration of this is the 2009 Index of Economic Freedom (Wall Street Journal/Heritage Foundation) in which, out of 183 countries, Denmark [...]
– By Jeff Brittain
Whether it is beneficial or detrimental to policy-making it is undeniable that polarization, combined with super-majority requirements, makes policy-making more complicated and difficult to undertake. Considering that both a polarized party system and super-majority requirements are firmly rooted in American Politics, it is important to understand whether their effects on policy-making are negative or positive. While some argue that these features of American [...]
– By Jeff Brittain
A Federal minimum wage was first set in 1938 by The Fair Labor and Standards Act. The minimum wage is meant to be a tool for combating poverty and preventing unfair wages, however, some scholars and economists doubt its effectiveness and some even argue it has more negative effects than positive. Despite this, most scholars have accepted the minimum wage as part of our [...]
By Avenging Angel
Tax Day 2012 has been a busy one for the propagandists of the Republican Party. After the GOP successfully filibustered the Buffett Rule in the Senate, House Speaker John Boehner claimed that Republicans are “listening to the American people.” Of course, what Boehner, Mitch McConnell, Mitt Romney and their allies don’t mention is that the Democratic proposal to implement a minimum 30 percent tax [...]