Federal spending has fallen well below the levels that the Bowles-Simpson commission recommended, but revenues have fallen as well.
Congressional leaders are trying to improve how they talk about inequality, stagnant wages, and middle-class economic insecurity, but their budgets still only advance the interests of those at the very top.
Failing to distinguish short term from long term often confuses the federal budget debate, as was the case in a recent article about a Center for American Progress report co-authored by Antonio Weiss.
The early reports of a possible deal on tax extenders show how Congress has abandoned the concepts of fairness and efficiency.
Issue Brief Austerity is so out of hand that there are opportunities to reverse some of the most shortsighted and damaging cuts while at the same time reducing deficits.
Harry Stein outlines the areas in which there is bipartisan consensus on improving the tax code.
Report Despite the political gridlock over taxes, there are actually many areas on which both sides agree. Policymakers should start here to improve our tax system.
Charts Corporate profits now constitute a record-breaking share of total national income, while corporate taxes contribute a declining share of total federal revenues.
Charts Unnecessary short-term spending cuts to solve a nonexistent debt crisis have caused measurable economic damage.
Issue Brief Wealth inequality has increased dramatically in recent years, and government subsidies for capital gains and dividends are only making the situation worse by helping the rich get richer.
Pfizer’s attempt to move its headquarters out of the United States by acquiring the U.K.-based AstraZeneca corporation highlights why the United States must prevent these kinds of corporate inversions—and why corporate tax reform must not become a race to the bottom.
Kevin DeGood and Harry Stein write on Highway Trust Fund insolvency.
Issue Brief The conservative economic framework at the core of the Ryan budget remains stuck on supply-side and trickle-down theories that have been discredited and are out of touch with today’s economy.
This year’s Ryan budget once again slashes middle-class investments and the social safety net in order to continue giving tax breaks to millionaires, corporations, and Big Oil.