National Income share

Recent data show a major shift in the balance between corporate income and labor compensation. As a share of the economy labor compensation has not been this low, and after-tax corporate profits have not been this high in (at least) 25 years.

nat_inc_share.jpg

Source: National Economic Trends (St. Louis Fed)

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Deeper into Debt

The new request for military funding will put us another $25 billion in debt - still no revenue solution in sight.

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Unemployment Insurance Study

A new CBO study finds that unemployment insurance is important in maintianing family income after a job-loss, and "the program has succeeded in preventing temporary poverty for a significant fraction of long-term UI recipients."

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Cost of Estate Tax Repeal

Acording to the Joint Committee on Taxation, making permanent an estate tax repeal would cost $206 billion over the next ten years.

See x-14-04r.pdf (application/pdf Object)

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2005 Federal Budget Continues Fiscal Decline

OMB Watch has released a new report entitled "2005 Federal Budget Continues Fiscal Decline."

The report finds that even if we take the numbers in the budget at face value, there is considerable fiscal decline in the federal budget, including:

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Estate Tax Lobby Day

Americans for a Fair Estate Tax in partnership with United for a Fair Economy and the Fair Taxes for All coalition is working to organize people throughout the country to come to Washington DC on March 9-10 to speak out against permanent repeal of the estate tax.

Nonprofits have a special interest in the estate tax, since a full repeal would mean the removal of an important incentive to give to charity. The Brookings/Urban Tax Policy Center recently estimated that a repeal of the estate tax would lead to an estimated $10 billion annual reduction in charitable giving.

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$1.3 trillion revenue reduction

Looks like the administration is pushing for yet another trillion dollar reduction in revenue...

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