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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Mortgage Bills Come (Past) Due

While wage increases have failed to outpace inflation, real housing prices have nearly doubled in the past ten years. Astronomical housing prices made it impossible for many families to purchase a home. The market responded by introducing and aggressively marketing new mortgage "products" like ARMs (adjustable rate mortgages) and interest-only loans. These mortgages made monthly payments affordable, but their continuing affordability hinged on two things: 1) that interest rates would not rise and that 2) the housing market continued to sizzle.

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The Local Connection

Think you can spend the public's money better than the government has? Well, you should check out the National Priorities Project here to find out how your congressional district could have spent the money we gave to the richest 1% in tax cuts this year. And for an example of how federal budget cuts are affecting local communities, take a look at this article from the Cleveland Plain Dealer.

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New CBPP Paper on Min. Wage

Another sad anniversary is coming up. Tomorrow is the 9-year anniversary of the last time the minimum wage was raised. For the occassion, the Economic Policy Institute and the Center on Budget and Policy Priorities have a new paper on the minimum wage. On relative poverty: For example, in 1978, even before the gap [between executive pay and the minimum wage]began to grow quickly, the average CEO was still paid 78 times as much as a full-time year-round worker earning the minimum wage. By 2005, the average CEO was paid 821 times as much as a minimum wage earner; this is the widest

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Octogenarian Club Bill Holding Party

Rebecca Carr of Cox Newspapers is reporting that West Virginia Senator Robert Byrd has also had an annonymous hold on S. 2590 in addition to Sen. Stevens. I'm immediately inclined to wonder: Is this characteristic of Senators in their 80's? Unlikely. Here's an explanation from Byrd's press spokesman Tom Gavin for the Senator's hold:

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LA Times Op-Ed on IRS Privatization

Yesterday's LA Times had a good op-ed on tax privatization, as follows. ONCE UPON a time, the Internal Revenue Service proclaimed that its mission was "to collect the proper amount of tax revenue at the least cost, serve the public by continually improving the quality of our products and services and perform in a manner warranting the highest degree of public confidence in our integrity, efficiency and fairness."

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Hold On One Second...

Rumors are flying that Sen. Byrd (D-WV) also has a hold on S. 2590. I suppose we need to figure out what Coburn did to him as well? More at TPMMuckraker.com

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Does the Administration Drink Its Own Kool-Aid?

OMB Watch has been trying for the past year or so to connect the dots to expose the farce that is the administration's Program Assessment Rating Tool (PART). Here's another great example: The National Center for Education Statistics (NCES) was reviewed under the PART survey in 2003 and given the highest rating of "effective." Some excerpts from the PART survey itself:
  • [NCES] makes a unique contribution to knowledge about the conditions and outcomes of education in America.

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Bernanke on Minimum Wage

We've noted that there's been a spate of establishment-types (and establishments) that have come out denying basic conservative talking points on economic policy. Now, here's new Fed Chairman Ben Bernanke, who says that a raise in the minimum wage will not cause inflation. BNA has the story. In a written response to questions from Rep. Ginny Brown-Waite (R-Fla.), Bernanke avoided addressing whether he thought the federal minimum wage should be raised, but he said the small number of workers affected would mean that overall labor costs and inflation would see little upward pressure.

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Pots, Kettles, and the Ironic Blackness of the U.S. Senate

Earlier today we blogged about Sen. Stevens' (R-AK) "secret" hold on legislation of a fellow Senator - Tom Coburn (R-OK). We speculated that the reason Stevens' office gave for the hold was probably about as accurate as OMB's deficit projections have been over the past few years.

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Sen. Stevens, Come on Down!

It's official - the secret hold on S. 2590 is none other than Sen. Ted "Series of Tubes" Stevens (R-AK). Sen. Stevens is the former chairman of the Senate Appropriations Committee and all around Senate curmudgeon. What's interesting about the fact that Stevens put a hold on the bill is his rationale. According to Stevens' spokesman Aaron Saunders, the Senator is worried "that the bill would create more bureaucracy. He wants to see a cost-benefit analysis." Sen. Ted Stevens (R-AK)

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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