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April 9, 2024
Maddow Spreads Misinformation on Student Loan Cancellation
Last night, progressive television pundit Rachel Maddow took jabs at Republicans concerned with President Biden’s latest effort to cancel student debt. But her jabs were actually sucker punches. She took advantage of the public’s being uninformed on the issue of student debt to spread misinformation, aimed at scoring partisan points and defending Biden’s indefensible vote-buying…
April 9, 2024
The Child Tax Credit: My Long-Read Q&A with Kevin Corinth
The Child Tax Credit is a tax benefit available to many American families for the purpose of reducing their federal income tax liability. It’s specifically designed to help offset the cost of raising children. The CTC of today, however, differs starkly from its pre-pandemic structure. Many economists, including Kevin Corinth, think that the post-pandemic changes were a step…
April 9, 2024
Biden Knows Student Loan Cancellation Is a Bad Idea
This morning, President Biden announced new details about the latest effort to cancel student debt that he says will reduce balances or completely cancel student debt for over 30 million Americans. First, he plans to cancel up to $20,000 of accumulated unpaid interest, regardless of the borrowers’ income. Second, the administration plans to automatically cancel debt for…
April 8, 2024
Accountability Comes to Public Housing
With little fanfare, the impossible just happened at the Hope Gardens public housing project in Bushwick: the management got fired. Repairs to the project’s high rises and townhouses had been delayed, and, per an official notice, “cost-saving measures to curb ballooning controllable operating expenses” hadn’t been adopted. Such lack of foresight constitutes a typical day…
April 8, 2024
The $1,000 Tax Hike on Middle-Class Families
When Americans file their taxes in the coming weeks, one group will be singled out for a tax hike: middle-class families with children. This April, a family with three children making at least $42,000 will pay about $950 more in (inflation-adjusted) federal income taxes than they paid in 2018 — when the Tax Cuts and Jobs…
April 8, 2024
We Still Don’t Know How Much Taxpayers Lost Due to Pandemic Unemployment Assistance Fraud
One of the first programs Congress created to assist Americans thrown out of work by the pandemic was the unprecedented Pandemic Unemployment Assistance (PUA) program. PUA expanded unemployment benefits to millions of independent contractors, the self-employed, and others never before eligible for regular Unemployment Insurance (UI) checks. But in some of the worst policy choices of…
April 5, 2024
What’s Wrong with the US Economy? Anything?
Economists were expecting 200,000 net new jobs added in March. Instead it was 50 percent more. Unexpected strength, but maybe not so unexpected, really, for an economy that continues to deliver surprise after surprise. It’s been a great run lately for economic optimists: real wage gains, faster labor productivity, and gobs of jobs. A tight summary…
April 5, 2024
The US Is Failing Substance-Exposed Infants
Key Points Read the full pdf. Introduction The stark human and societal cost of the drug epidemic is undeniable, directly taking over 100,000 lives each year since 2021.1 Due to infrequent and inconsistent testing,2 there is no reliable count of how many children are exposed to substances in utero, but, even before the current drug epidemic began,…
April 4, 2024
Biden’s ‘Tax Cut’ Rhetoric Is Really Just Code For Benefit Increases
President Biden’s rhetoric about his new budget proposal suggests it is full of tax relief for working families. For example, one White House fact sheet is headlined “The President’s Budget Cuts Taxes for Working Families and Makes Big Corporations and the Wealthy Pay Their Fair Share.” Taking from the rich to give more to working (and even non-working) families is a…
April 3, 2024
The Social Workplace: Social Capital, Human Dignity, and Work in America, Volume III
Executive Summary In this report, we analyze 41 interviews of participants in an earlier quantitative survey of worker attitudes. These interviews were targeted to survey participants age 22–29 to better understand the priorities and concerns of younger workers. Our findings underscore the paramount importance of flexibility and purpose in work. Our analysis suggests the definition…