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Feb 8, 2016

Top 400 Taxpayers See Tax Rates Rise, But There’s More to the Story

As Americans were gathering party supplies to greet the New Year, the Internal Revenue Service released their annual report of cumulative tax data reported on the 400 tax r...

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Feb 4, 2016

Chlorine Bleach Plants Needlessly Endanger 63 Million Americans

Chlorine bleach plants across the U.S. put millions of Americans in danger of a chlorine gas release, a substance so toxic it has been used as a chemical weapon. Greenpeace’s new repo...

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Jan 25, 2016

U.S. Industrial Facilities Reported Fewer Toxic Releases in 2014

The Toxics Release Inventory (TRI) data for 2014 is now available. The good news: total toxic releases by reporting facilities decreased by nearly six percent from 2013 levels. Howe...

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Jan 22, 2016

Methane Causes Climate Change. Here's How the President Plans to Cut Emissions by 40-45 Percent.

  UPDATE (Jan. 22, 2016): Today, the Bureau of Land Management (BLM) released its proposed rule to reduce methane emissions...

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The Rot at the Top

Poverty and inequality are big problems. But how big are they? It's tempting to define them as only concerning aggrevied parties- the poor, the displaced, the underemployed. But the reality is that these problems have something to do with a whole lot of people. There's the aggrievee, and the aggriever. It takes two to tango. So who are the aggrievers? In other words, who's getting rich under the new inequality? Who are the new Rockefellers and Morgans? And what exactly did they do to deserve all that money?

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Keeping What You Earn

Reading an article about housing projects in New Orleans that are slated for demolition, I saw something that got me thinking about deserving-ness and inequality. By the turn of the century, when I first walked through a New Orleans housing project for my own work (representing poor people facing the death penalty), I found it difficult to believe that the government could legally allow people to live in such squalor, with windows busted out on many units, with doors knocked in exposing interiors covered with graffiti, with children playing in trash-strewn common areas overgrown with weeds taller than them. By this point, America had given up on the notion of the deserving poor in favor of the view that identified the mostly working mothers who occupied the majority of these units as "welfare queens" having children in order to get bigger government checks. It isn't just the nation. I'd argue that much of the progressive community has all but given up on making a strong case for a deserving poor and middle class.

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Rant About Inequality, Part 17

EPI's Ross Eisenbrey wrote a great response to another economist whose love for the market has made him misrepresent the facts.

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Katrina Recovery Update

The Brooking's Katrina Index released its latest report on the slow-going hurricane recovery. The report explains a few of the policy barriers to a full recovery: Despite this progress, many other obstacles to recovery remain.
  • The Road Home program will stop accepting applications after July 31, largely due to the estimated $5 billion shortfall in the program. Neither Congress nor the Louisiana legislature have committed to providing additional funding for Road Home.

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Senate Schedules Floor Vote for Nussle

Senate Majority Leader Harry Reid has announced that the Senate will vote on the nomination of Jim Nussle to be the new Director of the Office of Management and Budget on Monday, September 4 - the first day back from the August recess. Reid announced there will be three hours of debate on the nomination beginning at 2:30 pm. One hour each for the chairman and ranking member of the budget committee, and one hour controlled by Sen. Bernie Sanders (I-VT). Sanders has announced a hold on Nussle's nomination because he has serious concerns about the nominee and his philosophical differences with the administration's fiscal policies. Sanders said: President Bush is completely out of touch with the economic realities facing working families in America. Bush needs to hear the truth, not an echo. He needs a budget director who will make him face the facts, not fan his fantasies.

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Preaching To People Who Aren't In The Choir

I thought I'd point up an interesting article I read over the weekend in Reason, a libertarian magazine.

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Economic Recovery and Its Discontents

This week's EPI Snapshot brings into focus who really benefited from the 2001-2005 economic recovery. Since the beginning of the recovery in 2001, the income share of the top 1% grew 3.6 percentage points to 21.8% in 2005, greater than the 16.1% income share of the entire bottom half of all U.S. households. Correspondingly, the income shares of the bottom half and the upper-middle class dropped, respectively, by 1.4 and 2.3 percentage points. As a result, the top 1% of households gained $268 billion of total income and the bottom 90% lost $272 billion since 2001.

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The Reciprocity-ists

Jared Bernstein has his speech up on TPM Cafe. Very much worth a read. It's a quick sum-up of his views on inequality and the way towards greater equality. A good passage: I'd like to offer three principles against which we can judge the nature and scope of the economic problems we face; three concepts that I suspect most of us would agree must be present in a viable social contract (and I'm borrowing here in part from the work of Fred Block): reciprocity, fair competition, and fair opportunities.

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Capital Concerns Alarm Administration

How Far Down Now, Dow? Rising income inequality, creeping AMT brackets, a deteriorating debt picture -- none of these seems to rise to the level of significance sufficient to galvanize the White House into action. But when life gets tough for the nation's investors -- and a five percent drop in the capital markets this week is making life tough for investors -- the White House gets going.

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Market Interventions Vs. Redistribution

Just came back from an event sponsored by Democracy: Journal of Ideas (so pretentious- uggh) and the Brooking's Hamilton Project, which I'm not really a huge fan of either, but whatever. They're ok.

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Resources & Research

Living in the Shadow of Danger: Poverty, Race, and Unequal Chemical Facility Hazards

People of color and people living in poverty, especially poor children of color, are significantly more likely...

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A Tale of Two Retirements: One for CEOs and One for the Rest of Us

The 100 largest CEO retirement funds are worth a combined $4.9 billion, equal to the entire retirement account savings of 41 percent of American fam...

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