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Category: Economy

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Will Inflation Crush the Biden Presidency?

by Steven Pressman | May 3, 2022 | Economy

Inflation has reached its highest level in 40 years—7 percent in 2021 and still rising. Concurrently, President Biden’s approval rating has dropped from 53 percent on Inauguration Day to 40 percent in late February before Russia invaded Ukraine. (By late March, it was 42 percent, and it has remained at this level through the first […]

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The Economic Consequences of Republican Tax Cuts

by Steven Pressman | Mar 16, 2022 | Economy

Since the 1980s, the Republican Party has had one objective—slashing taxes on the wealthy and on large corporations. This tax cut mania began with President Reagan. It continued unabated with the presidencies of Bush 43 and Trump. Despite Republican promises that their tax cuts would promote more rapid economic growth, nothing has been further from […]

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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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