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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Tax (Gap) Evasion

TaxAnalysts has just announced that it's suing the IRS to get suspiciously withheld documents on the tax gap. Last week, IRS commissioner Mark Everson said that IRS enforcement efforts had brought in more money, and that the IRS was paying more attention to high-income earners who avoid paying taxes. However, the IRS won't release the documents on which it's been basing these claims. So TaxAnalysts is suing them for the documents under the Freedom of Information Act.

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The $1.1 Trillion Jobs Creation Program

The Center for American Progress points out that President Bush is responsible for perhaps the most expensive jobs program ever: Based on the administration’s estimate that its tax cuts should be credited for creating approximately one-quarter of all new jobs...we can attribute 1.3 million jobs out of the 5.0 million newly created jobs since the start of the recovery in late 2001 to the White House’s tax cuts...According to estimates by the Congressional Joint Committee on Taxation, the tax cuts during the same time period totaled $1.1 trillion.

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Threat of Estate Tax Rollback Finished for 2006

Outgoing Senate Majority Leader Bill Frist (R-TN) admitted last week the Senate was unlikely to pass any permanent reduction to the estate tax in 2006, despite repeated attempts and rhetorical ultimatums from Frist and his allies.

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Senate Finance: Notes on the Newbies

Incoming Senate Finance Committee chair Max Baucus (D-MT) has announced the panel's Democratic members for the 110th Congress, as follows: CHAIR: Baucus, Rockefeller (WV), Conrad (ND), Bingaman (NM), Kerry (MA), Lincoln (AR), Wyden (OR), Schumer (NY), Stabenow (MI), Cantwell (WA), Salazar (CO). Notes on the Newbies:

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    Something Stinks at the IRS

    We have previously reported (see here, here, and here) on the IRS's bizarre plans to outsource some of its tax collection responsibilities to private companies.

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    Grand Bargains and Green Bananas -- Pax Tax?

    We noted, prior to the midterm election, Democrats’ moderate and conciliatory tax and budget agenda rhetoric. Today’s New York Times features a piece chock full of post-election quotations from incoming 110th Congress committee chairs echoing that rhetoric. The peace-pipe palaver hints at a “grand bargain”:

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    Better Late than Never?

    The Cato Institute has a thoughtful blog post challenging a National Review article that said a Democratic-majority Congress means we can say goodbye to the Bush tax cuts.

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    Trifecta's Ghosts

    6 minimum wage ballot initiatives passed yesterday, and an initiative to repeal Washington state's estate tax failed. Pretty much all of these initiatives went the way they did by wide margins. And I haven't seen anything on it, but it would be interesting to see how they affected voter turnout. Meanwhile, USA Today has officialy declared estate tax repeal dead. Time: November 7th. As for the federal minimum wage, it may be the first thing passed in the new Congress. We'll have to see how much money it will be raised by, over what time period, and whether it will be indexed to inflation.

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    Tax Policy on the Campaign Trail

    During the current campaign season, both Democrats and Republicans have allowed election-year rhetoric to distort the true nature and outcomes of current tax policy. The administration and Republicans across the country assert that Democrats plan to raise taxes for most citizens and that these "tax increases" would devastate the economy. At a recent campaign rally in Colorado, Bush was direct in asserting this view: And the American people must understand the facts; if you vote Democrat you're voting for a tax increase.

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    Public Opinion: Investment over Tax Cuts

    Via a great blog called The Inclusionist, The Center for American Progress has put out a review of public opinion surveys that reflect changing opinions on the economy. One interesting finding: generally, American public opinion trends optimistic when it comes to personal prospects for getting ahead, and pessimistic in terms of the economy as a whole. The dual nature of this economic viewpoint may be summarized as follows. I. When it comes to their own individual and family situations, most people say that they are succeeding (and expect their kids to succeed), thanks to their hard work and personal sacrifice in the face of great obstacles. This allows them to tell a story where they and their families are the heroes and where their difficulties redound to their credit. II. But, when they talk about how the economy is actually performing for “people like me” or for the entire nation or for the next generation as a whole, people are more forthright and forthcoming about the challenges that they themselves face. Now, they are not pitying themselves, but rather expressing concern for their children, their friends, their neighbors, their co-workers, and their fellow citizens.

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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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    more resources