If you take some of your money that is invested in one business, and use it to invest in something (like a building) for the purpose of running another business, should the act of buying the stuff for the new business generate a huge tax break for you? The way our government answers that question has hundreds of billions of dollars of impact on corporate taxation.
There are loopholes in the laws that allow employers to take advantage of their workers and avoid paying them or giving them benefits that they by rights are owed. As our economy changes in the face of automation, the gig economy, and new corporate employment schemes, we need to focus not just on how employees are treated, but on who counts as an employee at all.
The saga of Boeing’s failed 737 Max has been continuously in and out of the news since the horrible crashes involving the aircraft in Ethiopia and Malaysia. This is somewhat unusual for a media environment with such a short attention span, but there’s a reason Boeing’s failure is the story that just won’t go away. The more that investigators and journalists dig into the crashes, … Continue reading Negligence, Corruption, and the 737 Max: Boeing Shows the Rot in Our Regulatory System »
February 13th is an important day. It’s a symbol of our country’s skewed priorities when it comes to taxes, because today is the day that someone earning one million dollars per year will be done paying into Social Security tax, or FICA, for the rest of the year. The same cannot be said for 90% of Americans whose income will be subject to the tax … Continue reading It’s Scrap the Cap Day »
Last week, we inched closer to knowing just what, if any, conflicts or tax evasions our Commander in Chief is hiding from the American people. During a House Ways and Means subcommittee hearing, Democratic members made their case for why it is imperative to see President Trump’s tax returns. Since announcing his candidacy, President Trump has refused to release his tax returns, making him the … Continue reading Closing In on Trump’s Tax Returns »
In the two months after Republicans introduced the Tax Cuts and Jobs Act (TCJA), their massive tax overhaul in 2017, millionaires and billionaires “dramatically boosted” their political donations, contributing over $31 million in 60 days. This is just one the latest examples of the corrupting influence of money in politics. While it makes sense that if a member of Congress shares one’s views, that person … Continue reading Our Democracy Needs Fixing »
Thousands of the Internal Revenue Service’s “essential” workers will be required to work without pay during the ongoing government shutdown. With the IRS already underfunded under normal circumstances, these workers that have been called back in an effort to keep the tax refund season running smoothly will likely be even more overwhelmed. For millionaires and billionaires, this is great news. While most Americans don’t have … Continue reading Underfunding IRS Helps Wealthy Avoid Paying Taxes »
I’m an employer who pays my workers a living wage– no one in my plant makes less than $15/hr. Normally in our capitalist system, paying higher wages would make my business less competitive, simply because a higher median wage costs more. But one thing that has been lost in this whole minimum wage debate is the value that raising incomes for the working classes brings … Continue reading Stop Requiring Me to Subsidize Bad Business Practices »
For many, going to college is the first chance for young adults to stretch their wings. It gives them the chance to be independent, to pursue their interests, and to set themselves up for success in the field of their choice. Unfortunately, for more than half of graduates, their degree comes at a hefty price. With federal student loan payments due just six months after … Continue reading Explosive Rise of Student Debt Threatens Workers’ Happiness, and Economic Stability »
By 2023, 40% of student loan borrowers are expected to be in default according to the Brookings Institute. With billions of dollars in tax cuts for the wealthy passed last year, and murmurs of a second round of similar legislation to be expected this fall, it’s time we address the biggest economic issue of our generation. Student loan debt is crippling millions of Americans, and it … Continue reading The Insane Student Debt Crisis: Why are Corporations Treated Better than the Students? »
Americans across the country are justifiably up in arms over the latest Supreme Court Justice nominee, Brett Kavanaugh. Mr. Kavanaugh is an avowed partisan, hostile to women’s rights and consumer protection policies, as well as the conservative boogie-man, “Big Government.” What many Americans don’t know, however, is how his addition to the court could change the role of government generally, and in workplace safety specifically … Continue reading Confirming Justice Kavanaugh Means Freedom… from Being Safe? »
There are vast differences between the lives of a rich person and a poor person. As someone who finds himself in the former category, I know that the majority of these differences privilege my experiences and opportunities over the other. In a truly democratic and safe society, these benefits should stop once the criminal justice system enters into the equation, but this is not the … Continue reading Do Millionaires Worry About Going to Jail? »
The separation of church and state in our country’s federal and state governments is one of the most appealing aspects of our democracy. Without it, millions of Americans would be forced to follow legislation created with their neighbor’s God in mind, and church donations could be funnelled to candidates, unfettered. The resulting legislation would ultimately infringe on the rights and liberties of many non-believers or … Continue reading The Importance of the Johnson Amendment »
On February 1, 2018, Janet Yellen’s term as The Chair of the Board of Governors of the Federal Reserve System (Fed Chair) ends, and a Trump appointee will succeed her.
Language is powerful. We have come to believe certain things about our government because we have been fed a steady diet of metaphors that embed scary images in our minds.
Our lawmakers’ arguments over raising the debt ceiling aren’t just reckless – they’re pointless. Congress should end its outdated budget control rules.
Back in 2008 Henry Paulson, the Treasury Secretary in the Bush administration, needed to put billions of dollars of the taxpayers money at risk to bail out the big banks. We as a nation have decided that we never want to do that again.
Congress finally got the message from the American people. And the message they received is clear: major political donors should have more money and more influence on politics.
Senator Ron Johnson’s June 26 op-ed in the New York Times is fundamentally wrong about health insurance.
During every election cycle it seems that all anyone can talk about is the necessity for a dramatic change in the political system. Yet, each time a new Congress is sworn in, it seems to be more of the same.