New Posts

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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JCT Score: Min Wage $4.8 bn. Tax Package

The Joint Committee on Taxation's 10-year score of the $4.8 billion "Small Business and Work Opportunity Tax Act," adopted by Congress yesterday as part of the $120 billion war spending supplemental bill (now awaiting the president's signature) is: here.

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Some Concrete Costs of the War Debate

It's taking a while for Congress and the President to work out their differences over the war funding bill. This wait isn't harming the troops, but it is costing people money. That's because there's a minimum wage raise attached to the war funding bill. It raises it from $5.15 to $5.85 60 days after enactment, and then to $6.15 a year after enactment, and $7.25 after two years.

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The Health Care Mountain

Ezra Klein has an excellent post on the nature of long term fiscal health. Given this chart from a Center on Budget and Policy Priorities report, Klein wonders why Social Security get so much attention. Or, as he puts it: Look at that gentle slope for Social Security! You could do that in Rockports! Mt. Medicare and Medicaid, by contrast, require climbing gear.

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More on What's Wrong With Health Care

If you've got 45 minutes, take a look at this article in the New York Review of Books. It's an analysis of how doctor's think, and how bad habits of mind promote inefficiency and bad outcomes in the health care system.

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FMOC Holds Steady at 5.25 Percent

We tend not to venture over into monetary policy all that much, but it and fiscal policy are closely enough related that we thought we'd try. The non-news of the Fed's Free Market Open Committee's decision this week to hold the target Fed interest rate at 5.25 percent -- where it's been for the last year -- reflects some factors below, with a fiscal consequence noted further below. The Economists' View identifies these factors and notes behind the FMOC decision:

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    The Biggest Driver of the Long-Term Fiscal Challenge

    Doing a bit of research into mandatory spending, I came across this GAO document, which contains this bit: Among mandatory spending programs...the health area is especially important because the long-term fiscal challenge is largely a health care challenge. Contrary to public perceptions, health care is the biggest driver of the long-term fiscal challenge. This cannot be said enough: health care is the biggest driver of the long-term fiscal challenge.

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    Economic, Fiscal Round-Up: 1Q07 and 4/07

    Some important economic barometers and commentary, mostly pointing to a slowdown in the overall economy, below.
    • L. Josh Bevins, Economic Policy Institute -- GDP growth continues deceleration
    • John Irons, Center for American Progress -- April Job Growth Disappoints
    • CBO -- Federal Fiscal Performance: Monthly Budget Review
    • Bureau of Economic Analysis -- 1Q07 GDP growth factors summarized:

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    Humble Submission For the CAP-Inclusion Debate

    Responding to the new CAP anti-poverty plan, the folks at Inclusionist.org have started up an interesting debate on how to talk about, think about, and address poverty. This post should get you caught up. Call me a kool-aid drinker, but I'm taken in by the Inclusionist people. I like the way they think, perhaps more so than the way they name things. I mean, the term "inclusion" just sounds too social, when we're really talking about pocketbook, security, and opportunity issues. Their work's cut out for them on that front, if they ever want the term and their definition of it to become mainstream.

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    Free Market Follies: The Medicare Advantage Program

    Kevin Drum, commenting on a New York Times story about a Medicare program that pays private insurers more per patient than they pay directly to doctors:

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    Responsibility in Lending

    Responding to the subprime lending market meltdown, Charles Schumer (D-NY) is proposing legislation that would give $300 million to community groups that can help troubled borrowers restructure their mortgage debt. And not only would Shcumer's bill change some mortgage lending regulations, it asks for mortgage lenders to kick in $600 million of their funds. Of course mortgage lenders, as spoken for by Mortgage Bankers Association Chairman John M. Robbins, are having none of this.

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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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