Economy

The President’s Budget: A Misguided Mission Statement

The President’s Budget: A Misguided Mission Statement
We need a transformational president who will rouse Americans to address the challenges we face, not a transactional mediator who offers preemptive concessions to get a deal that ignores those challenges. Deficits are not our problem.
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Cut Social Security to Destroy the Recovery

Cut Social Security to Destroy the Recovery
President Obama picked the very day that new job creation collapsed to propose a deflationary budget deal featuring cuts in Social Security and Medicare. This is perverse economics and worse politics, on several grounds.
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Obama's 'Rising American Electorate' Hardest Hit By the Economy

Obama's 'Rising American Electorate' Hardest Hit By the Economy
The rising American electorate is sinking together in this economy. The faltering jobless recovery isn’t working for most working families. Over 20 million are still in need of full-time work. Wages and family income are falling.
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Offshore Tax Havens Cost Average Taxpayer Over $1,000 a Year

Offshore Tax Havens Cost Average Taxpayer Over $1,000 a Year
Corporations often park their profits overseas to avoid paying taxes on them. The U.S. Public Interest Research Group released a report yesterday detailing the costs that this has on the average U.S. taxpayer and on small businesses.
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Obama on Social Security in 2007: 'I Will Not Cut' Cost-of-Living Adjustments

Obama on Social Security in 2007: 'I Will Not Cut' Cost-of-Living Adjustments
President Obama has gone against his word by pledging cuts to Social Security that he himself took off the table when he was a candidate for President in 2007.
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Profit Shares Hit New Highs, Washington Focuses on Disability

Profit Shares Hit New Highs, Washington Focuses on Disability
The Commerce Department released data on corporate profits last week that showed the before-tax profit share in 2012 reaching its highest level since 1951. The after-tax profit share edged down by one-tenth of a percentage point from its 2011 level, but was still higher than every other year since 1930.
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American Taxpayers Increasingly Picking Up the Tab for Unpaid Corporate Taxes

American Taxpayers Increasingly Picking Up the Tab for Unpaid Corporate Taxes
In the 1950s, corporations paid nearly a third of the federal government’s bills. Last year, thanks to the antics of Pfizer and other examples of overly creative accounting, corporate income taxes accounted for less than a tenth of Uncle Sam’s total revenue.
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The Military Gets 26 Times as Much of Your Tax Dollars as Scientific Research Does

The Military Gets 26 Times as Much of Your Tax Dollars as Scientific Research Does
As you mull over the taxes you paid to the federal government this year, check out this graphic from the National Priorities Project showing where your taxes went in 2012.
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Westchester County Could Lose Millions for Fair Housing Failures

Westchester County Could Lose Millions for Fair Housing Failures
After more than three years of clashing with the federal government, Westchester County may finally have to pay a price for its failures to comply with a residential desegregation court order: $7.4 million.
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Studies Find: DC Does What Wealthiest Want, Majority Opposes

Studies Find: DC Does What Wealthiest Want, Majority Opposes
Why do policymakers focus so intently on the deficit issue? Because the small minority of wealthy individuals that see the deficit as the nation’s priority have more clout than the majority that didn’t.
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