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Category: Economy

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Big Taxin’ Deal: Reforming Corporate Income Taxation

by Steven Pressman | Oct 26, 2021 | Economy, Politics

The United States began taxing corporate income in 1909, with a 1 percent tax on profits exceeding $5,000 ($150,000 in today’s dollars). The top tax rate peaked at around 50 percent between World War II and 1978. It then declined slowly, reaching 35 percent in 1998. President Trump’s 2017 Tax Cut and Jobs Act cut […]

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The Summers of Our Discontent: An Inflationary Folktale

by Steven Pressman | Sep 13, 2021 | Economy

Inflation is headline news for the first time in decades, and a battle is raging over whether rising prices threaten the U.S. economy. On one side are those fearing a return to 1970s double-digit inflation and advocating for slower economic growth. Combatants on the other side claim that economic growth should not be sacrificed on […]

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Child Allowances: A Simple and Inexpensive Way to Help Families With Children 

by Steven Pressman | Jul 5, 2021 | Economy

Raising children is expensive. A typical middle-class, two-child family spends $13,000 annually on each child, or nearly a quarter-million dollars per child in total through age 17. This tally includes neither college costs nor the cost to a family of putting money aside to help the children attend college, which itself can easily run another […]

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Four Ways Biden and the Democrats Can Spur Real Economic Justice

by Dennis Parker | Mar 11, 2021 | Economy, Opinion

Rampant economic inequality in the United States demands structural solutions centered on racial justice. Income inequality and unequal access to jobs, health care, and benefits disproportionately harm Black, Indigenous, and people of color. Racial inequity in wages already costs the U.S. economy about $2.3 trillion per year. President Biden has stated his administration will prioritize […]

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Keynes to Democrats: Major Government Infusions Needed to Rescue this Economy

by Steven Pressman | Feb 2, 2021 | Coronavirus, Economy

Developed by John Maynard Keynes during the Great Depression, Keynesian economics provides a blueprint for combating economic stagnation and helping people survive difficult economic times. It advocates government spending programs and tax cuts for the poor and middle class, aiding those in greatest need. Spending by the masses would then generate economic growth and more […]

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