The sheer volume of tax credits, tax cuts, tax shifts, and miscellaneous tax giveaways in this Legislative session is mind boggling. Will the Arizona House pass one billion dollars in tax giveaways in 2020? It could happen. To say that this behavior is fiscally irresponsible is a gross understatement. The House Ways and Means Committee … Read more
President Trump cites massive tax cuts, his signature legislative achievement (sic), among wins that should dissuade voters from supporting his impeachment, and supporting his reelection. But several conservative economists now say the Trump tax law, which turns two years old Sunday, so far has fallen short of its central promise to spread prosperity broadly — just … Read more
Mr. “trade wars are easy to win” is blowing up the world’s economy with his 19th Century trade war with China, and is ensuring a global recession. The day began with Beijing’s announcement that it would levy new tariffs on $75 billion in goods, including reinstated levies on auto products, starting this fall. It all … Read more
Adding to the mountain of statistical evidence showing the severity of U.S. inequality, an analysis published last Friday found that the top one percent of Americans gained $21 trillion in wealth since 1989 while the bottom 50 percent lost $900 billion. Jake Johnson writes at Common Dreams, ‘Eye-Popping’: Analysis Shows Top 1% Gained $21 Trillion … Read more
Last week the nonpartisan Congressional Research Service (CRS) issued a report that makes it official: the “Trump tax cut bill,” the only legislative achievement of the previous Republican Congress, has not generated any meaningful new economic growth that was not already underway. And the crooks who passed it (above) are laughing all the way to their … Read more