Thursday, August 11, 2016

Thursday Morning Links

This and that for your Thursday reading.

- William G. Gale, Hilary Gelfond and Aaron Krupkin examine the evidence as to the effects of upper-class tax cuts, and find that they serve no purpose but to concentrate wealth and power in the hands of those who already have the most:
[Donald Trump's economic] plan won’t generate economic growth. We’ve been down this road before. For example, Reagan’s tax cuts did not boost the long-term growth rate, according to authorities like conservative economist Martin Feldstein, who was a Reagan appointee, and Douglas Elmendorf, former head of the Congressional Budget Office.

No one even proffers the suggestion that George Bush’s tax cuts – featuring lower income and estate taxes, like Trump’s plan– helped the growth rate, and for good reason. There is simply no evidence that it did.

Other countries have tried cutting top tax rates, too. The evidence shows that tax cuts for the rich help the rich accumulate more wealth, but don’t do anything much for economic growth.

Or, ask the people of Kansas how their income tax cuts have worked out. Listen to the stories about having to cut education and other spending and raise regressive taxes to make up for the absence of the promised growth miracle. Indeed, because of the massive rise in debt, Trump’s tax plan may actually hurt growth.
- Chris Dillow argues that grossly excessive executive compensation should be seen as just as much of problem from the right as from the left. And Christopher Shell and Frank Stilwell highlight the spread of income inequality in Australia.

- Joanna Smith and Jordan Press report on the federal government's analysis of the need for proactive pay equity legislation rather than a system limited to addressing complaints.

- Crystal Warner comments on the federal government's own failure to pay our public servants due to the Phoenix pay system debacle. And Bob Barnetson tells the stories of workers fired due to a supposed lack of work after informing a major employer of serious health and safety concerns - only to see their jobs taken over by more pliable replacements.

- Finally, Franklin Warsh offers a useful example as to how the social determinants of health can manifest themselves in drastically different outcomes for people who seem on the surface to be in similar positions.

No comments:

Post a Comment