Ted Vaill: The Bush tax cuts decreased the top personal income tax rate from 39.6% to 35%. A hypothetical millionaire who had $1,000,000 in adjusted gross income in each of the past 10 years benefitted by over $200,000. It is time for payback. Do it.
Andrea Christina Nill: A study by Manuel Pastor of the University of Southern California found that immigration reform would increase California’s “state and local tax base by about $350 million in the short run.” A separate study by Raul Hinojosa of the University of California, Los Angeles similarly found that immigration reform which includes a path legalization could generate at least $1.5 trillion in added U.S. gross domestic product over 10 years.
In the midst of the worst economic downturn since the Great Depression, and in anticipation of a new round of legislative debates on comprehensive immigration reform, DMI’s report makes a rational, concise argument for why comprehensive immigration reform is needed to improve the conditions for middle class Americans.
“The long memory is the most radical idea in America.” –Utah Phillips, as recalled by Amy Goodman I was reminded of Utah Phillips’ observation as I sat down to write this essay on how we approach public policy for dealing with unemployment during a time of mass unemployment. I intended to start off the essay [...]
The executive director of something called the National Security Network, named Heather Hurlburt, offers — I kid you not, and that’s really her name, so try not to hurl — Six Reasons to Love the Supplemental and Celebrate Progressives in Government. Hurlburt begins with her own warning not to vomit: “Usually, there are lots of [...]
A broad coalition of mental health advocates Tuesday blasted Governor Schwarzenegger’s proposal to permanently reverse parts of the state’s landmark Mental Health Services Act (MHSA), saying the plan would harm the more than 600,000 individuals who rely on public mental health services, exacerbate the cash crunch counties face during this economic downturn, and seriously set [...]
It is an understatement to say we are experiencing an unprecedented financial crisis along with our worldwide environmental crisis. Neither crisis needs an Austrian economist to explain it. We live in a consumer society and consumers “use things up.” In recent history, this useless, toxic “stuff” comes from China, and this sad state of affairs [...]
by Eileen Boris, Lisa Levenstein, and Sonya Michel President-elect Barack Obama’s economic stimulus plan has provoked comparisons with Franklin Delano Roosevelt’s New Deal. Like Roosevelt, Obama is promising to pull the country out of a depression with massive job creation through infrastructure spending. But, like FDR before him, it looks as if Obama is on [...]
The United States is in the midst of the worst financial crisis since the Great Depression. The question is: How close are we to another Great Depression? The answer is: Very close. Here’s why. The Great Depression was the result of the combination of the 1929 financial crisis and serious structural problems in the American [...]
Few incoming presidents have been left by their predecessors with as many challenges as Barack Obama. In fact, with the daunting terrain facing the incoming president, one wonders why Obama and John McCain even wanted the office. Other presidents facing an uphill task when taking office were (clockwise from upper left): George Washington, who had [...]
In the grand tradition of the savings and loan debacle of the 1980s, the mortgage-backed securities meltdown that currently threatens to undermine our financial markets, NAFTA, GATT, and the invasion and occupation of Iraq , our leaders in the Senate are once again preparing to hoist upon an unsuspecting public another catastrophe in the making. [...]