Thirty years of growing income inequality, corporate tax cuts and personal tax breaks for the wealthy have undermined the livelihood of working people and set up a state budget crisis which does not need to
exist. We present alternative tax proposals and issue a warning of the ominous consequences of privatization, layoffs and state service cuts for all New Yorkers.
Thirty years of growing income inequality, corporate tax cuts and personal tax breaks for the wealthy have undermined the livelihood of working people and set up a state budget crisis which does not need to
exist. We present alternative tax proposals and issue a warning of the ominous consequences of privatization, layoffs and state service cuts for all New Yorkers.
Why the Income Tax Cuts Hurt More Than They HelpWomen for Kansas
Presentation by Bernie Koch, director of the Kansas Economic Progress Council, given at the Taking Back Kansas convention on August 30, 2014, in Wichita, Kansas.
When it comes to employee compensation, it is the high and low ends of the spectrum that currently attract greatest focus. This article discusses executive compensation trends and minimum wage movement.
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINTUsing Assignments 1, 2, .docxmosyrettcc
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINT
Using Assignments 1, 2, and 3, create a 6–8-slide PowerPoint presentation in which you:
Provide a historical perspective of the policy from Assignment 1.
Describe the official and unofficial actors of the policy from Assignment 2.
Present both of the positions of the policy from Assignment 3.
Persuade the audience that the position you have chosen is worthy of the policy being implemented.
Include at least four peer-reviewed references (no more than five years old) from material outside the textbook. Note: Appropriate peer-reviewed references include scholarly articles and governmental websites. Wikipedia, other wikis, and any other websites ending in anything other than “.gov” do not qualify as peer-reviewed. Use Basic Search: Strayer University Online Library to identify references.
Your assignment must include:
Title slide with the name of the policy, your name, and date.
Reference slide with at least four peer-reviewed references, formatted according to the Strayer Writing Standards.
6–8 slides (the title slide and reference slide are not included in this number).
Icampus.strater.edu
Login: LC9468652853
Password: [email protected]
If Need Be!
Running Head: BUSH TAX CUTS 1
BUSH TAX CUTS 6
Bush Tax Cuts
Delores Blango
Strayer University
Dr. Timothy Smith
PAD 510
May 29, 2020
Bush Tax Cuts
Position in favor of the Policy:
The 2001 and 2003 tax cuts policy was meant to reduce marginal income tax rates and capital gains and dividends. All taxpayers got a reduction in their tax rates depending on their income thresholds. Additionally, the estate tax was completely phased out until 2010. These changes provided significant benefits to the middle class, who got their tax rates reduced by a margin of 3 to 5 percent. This fact means that people in the middle class got to keep a larger share of their salaries and improve their livelihoods. Additionally, all American citizens benefit from a child credit tax rising from $500 to $1000 per child. This change made it easier for low-income families to support their children adequately by providing for their basic needs. Further, there was a marriage penalty relief provision that resulted in the doubling of the basic standard deduction for couples that jointly owned property.
The stated changes lessened the financial burden placed on American citizens. Before the policy, low-income households had to pay a 15 percent tax rate to the government. This condition left a majority of low-income families struggling to meet their financial needs. The Bush tax cuts lowered their tax returns to 10 percent, allowing these families to comfortably budget their overall income (Hungerford, 2010). Additionally, the child credit tax made it easier for parents to meet the basic needs of their children. In the American commun.
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINTUsing Assignments 1, 2, .docxsmile790243
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINT
Using Assignments 1, 2, and 3, create a 6–8-slide PowerPoint presentation in which you:
Provide a historical perspective of the policy from Assignment 1.
Describe the official and unofficial actors of the policy from Assignment 2.
Present both of the positions of the policy from Assignment 3.
Persuade the audience that the position you have chosen is worthy of the policy being implemented.
Include at least four peer-reviewed references (no more than five years old) from material outside the textbook. Note: Appropriate peer-reviewed references include scholarly articles and governmental websites. Wikipedia, other wikis, and any other websites ending in anything other than “.gov” do not qualify as peer-reviewed. Use Basic Search: Strayer University Online Library to identify references.
Your assignment must include:
Title slide with the name of the policy, your name, and date.
Reference slide with at least four peer-reviewed references, formatted according to the Strayer Writing Standards.
6–8 slides (the title slide and reference slide are not included in this number).
Icampus.strater.edu
Login: LC9468652853
Password: [email protected]
If Need Be!
Running Head: BUSH TAX CUTS 1
BUSH TAX CUTS 6
Bush Tax Cuts
Delores Blango
Strayer University
Dr. Timothy Smith
PAD 510
May 29, 2020
Bush Tax Cuts
Position in favor of the Policy:
The 2001 and 2003 tax cuts policy was meant to reduce marginal income tax rates and capital gains and dividends. All taxpayers got a reduction in their tax rates depending on their income thresholds. Additionally, the estate tax was completely phased out until 2010. These changes provided significant benefits to the middle class, who got their tax rates reduced by a margin of 3 to 5 percent. This fact means that people in the middle class got to keep a larger share of their salaries and improve their livelihoods. Additionally, all American citizens benefit from a child credit tax rising from $500 to $1000 per child. This change made it easier for low-income families to support their children adequately by providing for their basic needs. Further, there was a marriage penalty relief provision that resulted in the doubling of the basic standard deduction for couples that jointly owned property.
The stated changes lessened the financial burden placed on American citizens. Before the policy, low-income households had to pay a 15 percent tax rate to the government. This condition left a majority of low-income families struggling to meet their financial needs. The Bush tax cuts lowered their tax returns to 10 percent, allowing these families to comfortably budget their overall income (Hungerford, 2010). Additionally, the child credit tax made it easier for parents to meet the basic needs of their children. In the American commun.
"The Economy under President Obama" tells the story of the 2009-2016 period using a series of economic and budgetary charts. Definitive non-partisan sources such as the Federal Reserve Economic Database (FRED) and Congressional Budget Office (CBO) are used, along with major media sources.
The presentation covers the Great Recession and response, fiscal policies, trends in major economic variables, income inequality and the ACA/Obamacare. Key questions covered include: 1) What did President Obama and Congress do to help or hinder the recovery? 2) What were the important decisions President Obama had to make? 3) How much of the national debt addition was due to the President's policies? 4) What were the trends in the key economic and budget variables? 5) What economic and budgetary legacy did he pass along?
Why the Income Tax Cuts Hurt More Than They HelpWomen for Kansas
Presentation by Bernie Koch, director of the Kansas Economic Progress Council, given at the Taking Back Kansas convention on August 30, 2014, in Wichita, Kansas.
When it comes to employee compensation, it is the high and low ends of the spectrum that currently attract greatest focus. This article discusses executive compensation trends and minimum wage movement.
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINTUsing Assignments 1, 2, .docxmosyrettcc
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINT
Using Assignments 1, 2, and 3, create a 6–8-slide PowerPoint presentation in which you:
Provide a historical perspective of the policy from Assignment 1.
Describe the official and unofficial actors of the policy from Assignment 2.
Present both of the positions of the policy from Assignment 3.
Persuade the audience that the position you have chosen is worthy of the policy being implemented.
Include at least four peer-reviewed references (no more than five years old) from material outside the textbook. Note: Appropriate peer-reviewed references include scholarly articles and governmental websites. Wikipedia, other wikis, and any other websites ending in anything other than “.gov” do not qualify as peer-reviewed. Use Basic Search: Strayer University Online Library to identify references.
Your assignment must include:
Title slide with the name of the policy, your name, and date.
Reference slide with at least four peer-reviewed references, formatted according to the Strayer Writing Standards.
6–8 slides (the title slide and reference slide are not included in this number).
Icampus.strater.edu
Login: LC9468652853
Password: [email protected]
If Need Be!
Running Head: BUSH TAX CUTS 1
BUSH TAX CUTS 6
Bush Tax Cuts
Delores Blango
Strayer University
Dr. Timothy Smith
PAD 510
May 29, 2020
Bush Tax Cuts
Position in favor of the Policy:
The 2001 and 2003 tax cuts policy was meant to reduce marginal income tax rates and capital gains and dividends. All taxpayers got a reduction in their tax rates depending on their income thresholds. Additionally, the estate tax was completely phased out until 2010. These changes provided significant benefits to the middle class, who got their tax rates reduced by a margin of 3 to 5 percent. This fact means that people in the middle class got to keep a larger share of their salaries and improve their livelihoods. Additionally, all American citizens benefit from a child credit tax rising from $500 to $1000 per child. This change made it easier for low-income families to support their children adequately by providing for their basic needs. Further, there was a marriage penalty relief provision that resulted in the doubling of the basic standard deduction for couples that jointly owned property.
The stated changes lessened the financial burden placed on American citizens. Before the policy, low-income households had to pay a 15 percent tax rate to the government. This condition left a majority of low-income families struggling to meet their financial needs. The Bush tax cuts lowered their tax returns to 10 percent, allowing these families to comfortably budget their overall income (Hungerford, 2010). Additionally, the child credit tax made it easier for parents to meet the basic needs of their children. In the American commun.
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINTUsing Assignments 1, 2, .docxsmile790243
PAD 510 WEEK 10 ASSIGNMENT 4 POWER POINT
Using Assignments 1, 2, and 3, create a 6–8-slide PowerPoint presentation in which you:
Provide a historical perspective of the policy from Assignment 1.
Describe the official and unofficial actors of the policy from Assignment 2.
Present both of the positions of the policy from Assignment 3.
Persuade the audience that the position you have chosen is worthy of the policy being implemented.
Include at least four peer-reviewed references (no more than five years old) from material outside the textbook. Note: Appropriate peer-reviewed references include scholarly articles and governmental websites. Wikipedia, other wikis, and any other websites ending in anything other than “.gov” do not qualify as peer-reviewed. Use Basic Search: Strayer University Online Library to identify references.
Your assignment must include:
Title slide with the name of the policy, your name, and date.
Reference slide with at least four peer-reviewed references, formatted according to the Strayer Writing Standards.
6–8 slides (the title slide and reference slide are not included in this number).
Icampus.strater.edu
Login: LC9468652853
Password: [email protected]
If Need Be!
Running Head: BUSH TAX CUTS 1
BUSH TAX CUTS 6
Bush Tax Cuts
Delores Blango
Strayer University
Dr. Timothy Smith
PAD 510
May 29, 2020
Bush Tax Cuts
Position in favor of the Policy:
The 2001 and 2003 tax cuts policy was meant to reduce marginal income tax rates and capital gains and dividends. All taxpayers got a reduction in their tax rates depending on their income thresholds. Additionally, the estate tax was completely phased out until 2010. These changes provided significant benefits to the middle class, who got their tax rates reduced by a margin of 3 to 5 percent. This fact means that people in the middle class got to keep a larger share of their salaries and improve their livelihoods. Additionally, all American citizens benefit from a child credit tax rising from $500 to $1000 per child. This change made it easier for low-income families to support their children adequately by providing for their basic needs. Further, there was a marriage penalty relief provision that resulted in the doubling of the basic standard deduction for couples that jointly owned property.
The stated changes lessened the financial burden placed on American citizens. Before the policy, low-income households had to pay a 15 percent tax rate to the government. This condition left a majority of low-income families struggling to meet their financial needs. The Bush tax cuts lowered their tax returns to 10 percent, allowing these families to comfortably budget their overall income (Hungerford, 2010). Additionally, the child credit tax made it easier for parents to meet the basic needs of their children. In the American commun.
"The Economy under President Obama" tells the story of the 2009-2016 period using a series of economic and budgetary charts. Definitive non-partisan sources such as the Federal Reserve Economic Database (FRED) and Congressional Budget Office (CBO) are used, along with major media sources.
The presentation covers the Great Recession and response, fiscal policies, trends in major economic variables, income inequality and the ACA/Obamacare. Key questions covered include: 1) What did President Obama and Congress do to help or hinder the recovery? 2) What were the important decisions President Obama had to make? 3) How much of the national debt addition was due to the President's policies? 4) What were the trends in the key economic and budget variables? 5) What economic and budgetary legacy did he pass along?
Economists See Clouds in the Silver LiningYardi Matrix
Download the full report: https://goo.gl/5jwDS5
At a time when optimism is rampant in the real estate industry, and the stock market is near all-time highs after a massive run-up, economists lived up to their billing as dismal scientists at the National Association of Business Economists (NABE) annual policy conference in Washington, D.C., last week.
Although the immediate state of the economy is healthy, economists lamented the country’s long-term fiscal situation, recently made worse by the tax reform passed by Congress. They were also pessimistic about the prospects for policy solutions, which include prudent immigration reform and fewer—not more—restrictions on global trade, given the growing populism that is producing an electorate with increasingly polarized views in the U.S. and Europe.
“I’m concerned that the political system has not come to grips with sensible fiscal policy,” said Alice Rivlin, a senior fellow at the Brookings Institution and former vice chair of the Federal Reserve and director of the White House Office of Management and Budget.
As with most things in economics, taxation is a mixed blessing. It.docxfredharris32
As with most things in economics, taxation is a mixed blessing. It is a blessing for those who receive dollars from taxpayers, which is about 40% of the population; and it is a nuisance for those who have to pay the taxes. The objective of this unit is to help you understand taxes and understand how they affect your life and the economy.
The income tax system began in earnest in 1913 with the Sixteenth Amendment to the Constitution that gave Congress legal authority to tax income. A rudimentary income tax system was tried during the Civil War but was eventually declared unconstitutional. There was no income tax during the high watermark of America's industrial capitalism, beginning in about 1870 and continuing to 1910. If you made money in that era, you kept it. Many of the most famous capitalist names emerge from this era: Rockefeller, Carnegie, McCormick, Swift, and Vanderbilt.
Two major disasters in our economic history, the Great Depression and World War II, changed the role of taxation and government forever. Beginning in the mid-1930s, following the ideas of John Maynard Keynes, the U.S. government began to spend money much more aggressively. In the past, government believed mostly in a balanced budget, but that changed when the Great Depression lingered for an entire decade.
Later, to finance a two-front, world war, taxes were raised to about 90%. Thus began the era of big taxes to pay for big government. Taxes, of course, have fallen from that lofty peak to a more modest 35% marginal tax rate at present, but the number of taxes has increased exponentially. All but six states have an income tax; likewise, many counties and cities have an income tax.
Though there are many ways to slice the tax onion, perhaps the best is the following:
Progressive taxes: This is a tax system in which tax rates increase as income increases. In other words, the more money you make, the more taxes you pay. This system places a greater burden on those best able to pay and almost no burden on the poor. For example, according to Internal Revenue Service (IRS) statistics, the top 50% of earners pay 97% of the taxes. The top 1% of earners pays 30% of all income taxes. On the other hand, over fifty million people, or one-third of the adult population in the United States, pay no taxes whatsoever.
Regressive taxes: In theory, these are the opposite of progressive taxes; these tax strategies fall more heavily on the poor. Common sense would suggest that these would be rarely used in a well-organized economy, but in fact, they are among the most commonly used because of their relative invisibility. Sometimes called the nickel and dime tax, regressive taxes tend to be small for each individual event; therefore, they are not widely noted. A good example of a regressive tax is the sales tax. It takes a much larger percentage of a poor person’s income than the income of someone of wealth. The reason there is no protest is that it takes such a small amount of money on ...
Seventy-four percent of Americans believe CEOs are not paid the
correct amount relative to the average worker. Only 16 percent
believe they are. While responses vary across demographic
groups (e.g., political affiliation and household income), overall
sentiment regarding CEO pay remains highly negative.
Recently, the Rock Center for Corporate Governance at Stanford
University conducted a nationwide survey of 1,202 individuals—
representative by gender, race, age, political affiliation,
household income, and state residence—to understand public
perception of CEO pay levels among the 500 largest publicly
traded corporations....
Similar to Economic Intervention: Deprogramming Conservatives (16)
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
2. 2
Purpose of this Presentation
Your dilemma
Facing a Fox News quoting parrot?
Trying to help your Conservative friends and family get back to fact-based reality?
Sharpening your argument against economic claims you know are false?
You’ve come to right place
Fact-based, authoritative information in graphical form for easy communication
What the facts tell us
The economy performs better under Democrats (growth, jobs, and stock market)
Republican 2017 health care proposals are giant tax breaks for the rich and benefit cuts for the poor
Unregulated markets often lead to oligopoly and monopoly, which hurt consumers
We’re the richest we’ve ever been as a country, but have a serious distribution problem
Obama made progress reducing inequality, but not enough to reverse the post-Reagan era shift
And much more…
3. 3
1. Economy Grows Faster Under Democratic Presidents
Sources:
The Economist “Timing is Everything: Why the economy has grown faster under Democratic presidents” (August 2014)
https://www.economist.com/news/united-states/21611143-why-economy-has-grown-faster-under-democratic-presidents-timing-everything
The Economist: “Since the second world war the economy
has done better under Democratic presidents, who have
overseen more job creation and higher stock market returns
than Republican leaders. During this time the economy has
grown about 1.8 percentage points faster when a Democrat
occupies the White House…”
4. 4
2. Job Creation is Higher Under Democratic Presidents
“Since 1961…the Republicans have held the White
House 28 years, the Democrats 24,” said Bill
Clinton in 2012. “In those 52 years, our private
economy has produced 66m private-sector jobs.
So what’s the jobs score? Republicans 24m,
Democrats 42m.”
Obama added +8m to this lead 2013-2016, so the
score now is 50m to 24m, with equal numbers of
years in control of the Presidency.
Sources:
The Economist “Timing is Everything: Why the economy has grown faster under Democratic presidents” (August 2014)
New York Times: “How Obama’s Job Record Stacks Up” (January 6, 2017)
50
24
Job Creation Total (Millions)
Democrats Republicans
5. 5
3. Stock Market Does Better Under Democratic Presidents
Sources: CNN Money “Democrats vs. Republicans: Who’s better for stocks?” (October 28, 2015)
S&P 500 Annual Returns
Since 1945, the average annual stock market gain under a
Democratic president is 9.7%. Under a Republican president, it's only
been 6.7%.
6. 6
4. Unemployment Rates Improve Under Democrats, but Rarely for Republicans
Source:
New York Times: “How Obama’s Job Record Stacks Up” (January 6, 2017)
All of the Democrats saw the unemployment rate
drop or stay the same, comparing the start and
end.
The only Republican that presided over a lower
unemployment rate at the end of their term vs.
the beginning was Reagan.
R
D
R
R
R
R
D
D
D
D
7. 7
5. Republicans Cut Taxes for the Rich, Democrats Raise Taxes for the Rich
Clinton raised tax rates for the top 1.2% of
earners in 1993.
The Bush tax cuts were in 2001 and 2003.
CBO estimated the revenue decline (debt
increase) at $1.5 trillion from 2002-2011. The
top 1% got about 20% of the benefit.
Obama raised income tax rates on incomes
over $400,000 ($450,000 for couples), a
partial expiration of the Bush tax cuts.
Obama added 0.9% to the Medicare payroll
tax for incomes over $200,000 ($250,000 for
couples) as part of Obamacare.
Obama added a 3.8% surcharge on net
investment income as part of Obamacare;
90% of this tax is paid by the top 1%.
These Obama changes were effective in 2013.
Clinton
Obama
Bush 43
Source: CBO: “The Distribution of Household Income and Federal Taxes, 2013”
https://www.cbo.gov/publication/51361
Reagan
8. 8
6. Raising Taxes on the Rich and Cutting Defense Spending Created Surpluses 1998-2001
Bill Clinton raised tax rates on the rich in 1993 and cut defense spending. The economy boomed.
Conservatives try to cut tax rates for the rich and increase defense spending, ignoring this lesson.
Source Data: CBO Historical Tables. For example, income tax revenue increased from 7.5% GDP in 1994 to 9.4% GDP in 2001, a 1.9% GDP increase.
9. 9
…to provide a tax cut almost entirely for the rich.
Top 6% (income over $200,000) receive 70% of the benefits
Income over $1 million (top 0.4%) receive 46% of the benefits
Those earning under $50k incur a net cost, on average
Source: Tax Policy Center “Who gains and who loses under the AHCA?” (March 2017)
Millions Lose Health Insurance under Republican
proposals (AHCA, BCRA)…
20+ million fewer covered vs. Obamacare
Most of the losses would be from Medicaid
$5,680
7. The Republican Healthcare Proposal is a Huge Tax Cut for the Rich
Source: NYT “The CBO Did the Math. These are the Key Takeaways from the Senate Healthcare Bill” (June 26, 2017)
10. 10
8. Eliminating Tax Breaks for the Top 20% Might Balance the Budget (For a Few Years)
What are Tax Expenditures?
Preferential rates, exclusions, deductions, and tax credits
that cause revenues to be much lower than purely
applying tax rates.
How much are they, and who gets them?
Tax expenditures were forecast at $1.5 trillion in 2017
The top 20% get 51%, or $750 billion of the benefit
The top 1% get 17%, or $250 billion of the benefit
Top 20% earn > $110,000 income; top 1% > $400,000
For scale, the budget deficit in 2017 will be about $600
billion
Examples include:
Preferential rates for capital gains and dividend income
Exclusion of capital gains on assets transferred at death
Excluding 401k contributions from income (deferring)
Exclusion from employee income of health insurance
premiums paid by employers
Deductions for state and local taxes
Deduction of mortgage interest
Sources:
CBO “Budget and Economic Outlook 2017-2027”
CBO “The Distribution of Major Tax Expenditures in the Individual Income Tax System”
17%
51%
11. 11
9. Conservative Deregulation / Unregulated Markets Hurt Consumers
Source: The Economist: “Whack-a-passenger: A lack of competition explains the flaws in American aviation” (April 22, 2017)
Source: White House Council of Economic Advisors: “Benefits of Competition and Indicators of Market Power” (April 2016)
Deregulation can hurt consumers
Unregulated markets (e.g., lack of anti-trust enforcement) result in mergers and
acquisitions that help corporate profits (and rich investors) at the expense of
consumers.
This is because competitive markets (the best situation for consumers) become
oligopoly or monopoly, meaning a few powerful firms can increase profits while
offering lower service.
U.S. Airline Example
The top 4 carriers in the U.S. control 80% of the market, vs. 48% a decade ago. In
Europe, the top 4 have 45%. Industry concentration is increasing in many U.S.
industries.
“Air fares are higher per seat mile in America than in Europe. When costs fall,
consumers in America fail to enjoy the benefits. The global price of jet fuel—one of
the biggest costs for airlines—has fallen by half since 2014. That triggered a fare war
between European carriers, but in America ticket prices have hardly budged. Airlines
in North America posted a profit of $22.40 per passenger last year; in Europe the
figure was $7.84.”
“Standards of service are also worse. Only one operator based in America can be
found in the world’s 30 best carriers…”
12. 12
10. Obama’s Economic Record is Impressive
Source: NYT / “2016 in Charts…” (January 3, 2017)
Most of the debt increase was due to the financial
crisis and recession, which started under Bush.
Conservative deregulation of banking was a primary
cause, as investment banks were not subject to
meaningful regulation and took immense risks.
14. 14
12. We’re Close to Full Employment and Incomes are Recovering
CBO estimated in January 2017 that we’re about 1.6 million
from full employment…
Source: CBO Budget & Economic Outlook 2017, Federal Reserve Economic Data (FRED)
…while real median household incomes were back to pre-
recession levels by the end of 2015 (latest available). Results
in 2016 should be even better based on early indications.
Note: 1.6 million is about 1% of the workforce Note: Recall that 2000 and 2007 were bubble economies.
Contrary to Trump’s doom and gloom…
15. 15
13. We’ve Never Been This Rich, But We Have a Distribution Problem
Household net worth continues to surpass records,
reaching $94.8 trillion in Q1 2017 (about $730,000 /
household on average) due to both financial and real-
estate asset price increases…
…However, the average is misleading due to highly skewed
wealth distribution. The top 1% have approximately 42% of
the wealth. The bottom 50% of families average about
$11,000 net worth. This inequality is a feature of
conservatism. Historically, only active government
redistribution and pro-labor policies prevented this result.
42%
Fed Governor Lael Brainard – May 22, 2017: “The results of the 2016 SHED [Fed Study] show that nearly one-fourth of all households are unable to pay their current month's bills in full, nearly
one-third would rely on borrowing or selling something to cover a $400 emergency expense, and one in eight would not be able to cover a $400 emergency expense by any means. Over half of
households lack savings to cover three months' expenses if they lost their main source of income…On average from 1989 to 2013, about 80 percent of households in the bottom quintile of the
income distribution had less than $3,000 adjusted for inflation in liquid assets (cash, checking, or savings accounts). Even among households in the middle quintile of income, about half do not
meet this threshold for liquid assets.”
16. 16
14. Obama Pushed Back Against the Post-Reagan Rightward Inequality Shift
“The Left”
Pro-Labor (Workers)
Liberals / The 99%
“The Right”
Pro-Capital (Owners)
Conservatives / The 1%
The Rightward Shift President Obama made progress in shifting the
country back to the Left measured between 2007 to
2015, partially offsetting the long-term trends.
Republicans transfer as much wealth upward as
Democrats allow.
17. 17
15. Republican politicians tell falsehoods more often than Democrats
Politifact: The politicians running in the 2016
Presidential election with the most falsehoods were
all Republican, measured 2007-2015.
Tax cuts for the rich and spending cuts for the poor
aren’t popular, so Republicans often create falsehoods
to cover for them, such as “income tax cuts pay for
themselves.” They argue deficits and debt are a
significant problem that justify spending cuts (other
than defense), but this is inconsistent with their
arguments for tax cuts.
President Trump was fond of falsehoods about the
state of the economy, misrepresenting the
unemployment rate and other labor market variables.
Source: NYT Angie Drobnic Holan “All Politicians Lie. Some lie more than others.” (December 11, 2015)
18. 18
16. Trump won by getting enough people to vote against their economic interests
Trump’s appeals on social issues (mainly immigration) were
able to convince enough economically liberal but socially
conservative voters (upper left) to vote against their own
economic interests, in key swing states.
Source: Political Divisions in 2016 and Beyond (June 2017)
Lee Drutman / Democracy Fund Voter Study Group