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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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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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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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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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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