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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Working Group Releases Paper Demystifying Carried Interest Debate

WASHINGTON, Sept. 6, 2007—Following yesterday's announcement of a letter sent by more than 300 national, state and local organizations urging members of Congress to close the carried interest tax loophole, a working group of policy analysts supporting this effort released a paper today for advocates, legislative aides and members of the media.

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College Access Bill To Be Enacted

CongressDaily (subscription required) reports that the President will sign the Higher Education Access Act of 2007- a revenue-neutral bill that will give more help to students to pay for college.

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The Ubiquity of the Free-Lunch Supply-Siders

Prompted by right-leaning Atlantic Monthly blogger Megan McArdle's criticism of Jon Chait's The Big Con: The True Story of How Washington Got Hoodwinked and Hijacked by Crackpot Economics, left blogistan has fired off a volley of posts refuting McArdle's assertion that free-lunch supply siders are an obscure, rare breed. McArdle:

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States Being Hit With Tax Shortfalls

The Wall Street Journal reports that a slumping housing market has many states facing budget crises. Tremors from the housing market's slump are straining the budgets of state and local governments from coast to coast, sending officials scrambling to plug gaps. Rising defaults on subprime home loans are boosting the inventory of unsold homes and driving sale prices lower. That's cutting into housing-related revenues from building-permit fees, taxes on contracting and recording property transfers, and even sales taxes.

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What Do Americans Think About Inequality? Part III

Why do Americans think inequality is a bad thing? There are, at least, five distinct explanations. A. It's in the majority's self-interest to redistribute. B. The public thinks unequal market outcomes are undeserved. C. It believes in unconditional equality. D. It believes in redistribution according to need. E. It believes unequal market outcomes are inefficient.

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Another Strike Against IRS Private Debt Collection

Does anyone really like the IRS' private debt collection program except the folks who are making money off of it? Apparently not. Yesterday, the Taxpayer Advocacy Panel, an independent federal advisory panel made up of taxpayers from every state, released recommendations that the IRS "abandon all plans to outsource any taxpayer debts and restrict collection activities to properly trained and proficient IRS personnel." It's pretty clear where they stand on the program.

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Samuelson Abuses Census Data

In his Washington Post column this week, Bob Samuelson abuses Census Bureau's Income, Poverty, and Health insurance Coverage in the United States 2006 to launch a critique of immigration policy. The gist of his "reasoning" is this: From 1990 to 2006, the number of poor people increased by 2.9 million people. In those same years, the number of poor Hispanic people increased by 3.2 million while the number of poor whites and blacks and fell by 0.6 million and 0.8 million respectively. If we subtract out the increase in poor Hispanic individuals from the increase in the total number of poor individuals, we are actually left with a net decrease in the number of people in poverty from 1990 to 2006. Ergo, satisfactory progress has been made in poverty remediation, and flawed immigration policies are primarily responsible for strained social services, health care, and public education systems. Why is it important to get this story straight? One reason is truthfulness. It's usually held that we've made little, if any, progress against poverty. That's simply untrue. ... We shouldn't think that our massive efforts to mitigate poverty have had no effect. Immigration hides our grudging progress. A second reason is that immigration affects government policy. By default, our present policy is to import poor people. This imposes strains on local schools, public services and health care. Samuelson, however, is simply peddling statistical misdirection and obfuscation.

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300+ Groups Send Carried Interest Letter to Congress

More than 300 state, local, and national organizations sent a letter today to every member of Congress, urging them to support H.R. 2834, the bill intoruced by Rep. Sander Levin (D-MI) to close the tax loophole that allows fund managers to pay capital gains tax rates on the portion of their compensation for management services known as "carried interest." There is no other profession or sector that enjoys this tax preference. OMB Watch is pleased to be among the letter's signatories. The issues involved -- tax equity and fiscal responsibility -- are close to the core of OMB Watch's mission.

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Nussle Approved to Head OMB, All Brace for Budget Battles

Yesterday, the Senate voted 69-24 to confirm former Rep. Jim Nussle (R-IA) as director of OMB. Every GOP Senator voted in favor of Nussle; 23 Democrats did likewise while 23 opposed him.

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Hundreds of Organizations Urge Congress to Close Tax Loophole for Fund Managers

WASHINGTON, Sept. 5, 2007—More than 300 national, state and local nonprofit organizations signed a letter sent today to members of Congress urging them to eliminate a tax loophole that allows mega-rich private equity and hedge fund managers to pay federal taxes at a lower rate than middle-income people. Among the signatories are unions, faith-based organizations, advocates for children and families, social service nonprofits, and tax fairness advocates.

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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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