The document summarizes trends in poverty and inequality in the United States and Wisconsin, and how recent tax policy choices have exacerbated economic disparities. It discusses how safety net programs have reduced poverty but are underfunded and work against economic forces that increase poverty and inequality. Specifically, it outlines how Wisconsin's 2011-2013 and 2013-2015 state budgets cut taxes for the wealthy while raising taxes on low-income households through reducing tax credits. The presentation concludes that speaking out can help counter these policies and their negative impacts.
From 2010—the first full year after the official end of the Great Recession—to 2018, Vermont’s economy, as measured by gross state product, grew at less than one-third the rate of the country’s overall. Vermont’s annual growth rate, after adjusting for inflation, averaged 0.7 percent per year, compared with 2.3 percent for the U.S. That was also slower than Vermont’s own annual growth rate during the previous recovery (2002-07), which was 1.8 percent. From 2017 to 2018 Vermont’s real GSP grew by 1.2 percent.
Post-COVID Economic Challenges: Unemployment, Increasing Inflation & National...Paul H. Carr
Post-COVID Economic Challenges: Unemployment, Income inequality, Increasing Inflation, & National Debt.
Paul H Carr summarized a webinar by the following: Eric Rosengren, President and CEO, Federal Reserve Bank of Boston; Wendy Edelberg, Brookings Institution, and Philip Swagel, Director, Congressional Budget Office. Would less inflationary and debt increasing relief act have been better than President Biden’s $1.9 Trillion bill?
Economic Inequality: A Relational Ethical ChallengePaul H. Carr
ROOT CAUSES OF INEQUALITY
ETHICS
-Individual relationships vs Societal Responsibility
ECONOMIC THEORIES
– Individual Gain vs Common Good of Society. EDUCATIONAL REQUIREMENTS
-Most of the increase in productivity and wealth is due to advances in digital computer technology.
- Bill Gates of Microsoft and Jeff Bezos of Amazon are now wealthiest.
- Digital computer technology requires a college-equivalent math-based education
TAX STRUCTURE
-Income inequality started in 1980 with reduced income taxes on the rich. “Trickle-Down” economics not as good as "Trickle-Up"
-More inequality in US than Europe.
Why Federal Poverty Measure Is Not Enoughanaghadange
This is an attempt to highlight why we need an alternative poverty measure. The presentation also tries to illustrate the drawbacks and real world consequences of the current system.
From 2010—the first full year after the official end of the Great Recession—to 2018, Vermont’s economy, as measured by gross state product, grew at less than one-third the rate of the country’s overall. Vermont’s annual growth rate, after adjusting for inflation, averaged 0.7 percent per year, compared with 2.3 percent for the U.S. That was also slower than Vermont’s own annual growth rate during the previous recovery (2002-07), which was 1.8 percent. From 2017 to 2018 Vermont’s real GSP grew by 1.2 percent.
Post-COVID Economic Challenges: Unemployment, Increasing Inflation & National...Paul H. Carr
Post-COVID Economic Challenges: Unemployment, Income inequality, Increasing Inflation, & National Debt.
Paul H Carr summarized a webinar by the following: Eric Rosengren, President and CEO, Federal Reserve Bank of Boston; Wendy Edelberg, Brookings Institution, and Philip Swagel, Director, Congressional Budget Office. Would less inflationary and debt increasing relief act have been better than President Biden’s $1.9 Trillion bill?
Economic Inequality: A Relational Ethical ChallengePaul H. Carr
ROOT CAUSES OF INEQUALITY
ETHICS
-Individual relationships vs Societal Responsibility
ECONOMIC THEORIES
– Individual Gain vs Common Good of Society. EDUCATIONAL REQUIREMENTS
-Most of the increase in productivity and wealth is due to advances in digital computer technology.
- Bill Gates of Microsoft and Jeff Bezos of Amazon are now wealthiest.
- Digital computer technology requires a college-equivalent math-based education
TAX STRUCTURE
-Income inequality started in 1980 with reduced income taxes on the rich. “Trickle-Down” economics not as good as "Trickle-Up"
-More inequality in US than Europe.
Why Federal Poverty Measure Is Not Enoughanaghadange
This is an attempt to highlight why we need an alternative poverty measure. The presentation also tries to illustrate the drawbacks and real world consequences of the current system.
Where do your tax dollars go? Who pays federal taxes? What are tax expenditures? We explain the U.S. federal tax system in a few easy-to-understand charts. See more resources at http://www.fixthedebt.org/tax-reform-resource-page
The public tends to focus on the total national debt, which just passed the $17 trillion mark.
But that figure pales in comparison to the federal government’s long-term unfunded liabilities
—money the government is obligated to pay over and above the revenues it is estimated to receive.
According to the U.S. Debt Clock, total long-term unfunded liabilities are at $126 trillion, a $1.1 million liability for each U.S. taxpayer. The main driver of that astronomical number
is two of our major entitlement programs: Social Security and Medicare.
This is a PPT that I created for a discussion of the US Federal Budget, the Deficit, and the Debt. Many of the slides are public domain items for Heritage Foundation and Concord Coalition. It led to some very good non-partisan discussions. There is hope!
A webinar presentation by Geoffrey Plague, Independent Sector, to the chief development officers from National Health Council member organizations. October 3, 2011
Giving Bosnia and Herzegovina: Philanthropy’s Response to COVID-19 (September...Catalyst Balkans
Overnight, COVID-19 changed life and the way in which our communities function. From the beginning of the crisis to September 30, 2021, we processed data on 1,264 philanthropic instances in Bosnia and Herzegovina.
This is how citizens, companies and nonprofits respond to the crisis in solidarity.
Stimulus money and stock market investmentsInvestingTips
The Biden stimulus payments will affect the stock market in two different ways. The economy will improve and stimulus checks will go directly into the stock market.
https://youtu.be/p54JqYnjJGA
Consider the CMS core measures and the data used to support the re.docxmaxinesmith73660
Consider the CMS core measures and the data used to support the reporting. Which do you believe are the easiest to collect and which do you think are the most difficult to collect?
The Hamilton Project • Brookings 1
Introduction
The Earned Income Tax Credit (EITC) provides a refundable
tax credit to lower-income working families. In 2011, the EITC
reached 27.9 million tax filers at a total cost of $62.9 billion.
Almost 20 percent of tax filers receive the EITC, and the
average credit amount is $2,254 (IRS 2013). After expansions
to the EITC in the late 1980s through the late 1990s—under
Democrat and Republican administrations—the EITC now
occupies a central place in the U.S. safety net. Based on the
Census Bureau’s 2012 Supplemental Poverty Measure (SPM),
the EITC keeps 6.5 million people, including 3.3 million
children, out of poverty (Center on Budget and Policy
Priorities [CBPP] 2014a). No other tax or transfer program
prevents more children from living a life of poverty, and only
Social Security keeps more people above poverty.
Since the EITC is only eligible to tax filers who work, the
credit’s impact on poverty takes place through encouraging
employment by ensuring greater pay after taxes. The empirical
research shows that the tax credit translates into sizable
and robust increases in employment (Eissa and Liebman
1996; Meyer and Rosenbaum 2000, 2001). Thus, the credit
reduces poverty through two channels: the actual credit, and
increases in family earnings. This dual feature gives the EITC
a unique place in the U.S. safety net; in contrast, many other
programs redistribute income while, at least to some degree,
discouraging work. Importantly, transferring income while
encouraging work makes the EITC an efficient and cost-
effective policy for increasing the after-tax income of low-
earning Americans.
Yet a program of this size and impact could be more equitable
in its reach. Under the current design of the EITC, childless
earners and families with only one child, for instance, receive
disproportionately lower refunds.
In 2014, families with two children (three or more children) are
eligible for a maximum credit of $5,460 ($6,143) compared to
$3,305 for families with one child. Married couples, despite their
larger family sizes, receive only modestly more-generous EITC
benefits compared to single filers.1 Childless earners benefit little
from the EITC, and have a maximum credit of only $496—less
than 10 percent of the two-child credit.
Prominent proposals seek to mitigate these inequalities.
President Obama’s fiscal year 2015 budget includes an expansion
of the childless EITC, a concept outlined by John Karl Scholz in
2007 in a proposal for The Hamilton Project. Notably, MDRC
is currently evaluating Paycheck Plus, a pilot program for an
expanded EITC for workers without dependent children, for
the New York City Center for Economic Opportunity (MDRC
2014). The recent Hamilton Project pr.
Where do your tax dollars go? Who pays federal taxes? What are tax expenditures? We explain the U.S. federal tax system in a few easy-to-understand charts. See more resources at http://www.fixthedebt.org/tax-reform-resource-page
The public tends to focus on the total national debt, which just passed the $17 trillion mark.
But that figure pales in comparison to the federal government’s long-term unfunded liabilities
—money the government is obligated to pay over and above the revenues it is estimated to receive.
According to the U.S. Debt Clock, total long-term unfunded liabilities are at $126 trillion, a $1.1 million liability for each U.S. taxpayer. The main driver of that astronomical number
is two of our major entitlement programs: Social Security and Medicare.
This is a PPT that I created for a discussion of the US Federal Budget, the Deficit, and the Debt. Many of the slides are public domain items for Heritage Foundation and Concord Coalition. It led to some very good non-partisan discussions. There is hope!
A webinar presentation by Geoffrey Plague, Independent Sector, to the chief development officers from National Health Council member organizations. October 3, 2011
Giving Bosnia and Herzegovina: Philanthropy’s Response to COVID-19 (September...Catalyst Balkans
Overnight, COVID-19 changed life and the way in which our communities function. From the beginning of the crisis to September 30, 2021, we processed data on 1,264 philanthropic instances in Bosnia and Herzegovina.
This is how citizens, companies and nonprofits respond to the crisis in solidarity.
Stimulus money and stock market investmentsInvestingTips
The Biden stimulus payments will affect the stock market in two different ways. The economy will improve and stimulus checks will go directly into the stock market.
https://youtu.be/p54JqYnjJGA
Consider the CMS core measures and the data used to support the re.docxmaxinesmith73660
Consider the CMS core measures and the data used to support the reporting. Which do you believe are the easiest to collect and which do you think are the most difficult to collect?
The Hamilton Project • Brookings 1
Introduction
The Earned Income Tax Credit (EITC) provides a refundable
tax credit to lower-income working families. In 2011, the EITC
reached 27.9 million tax filers at a total cost of $62.9 billion.
Almost 20 percent of tax filers receive the EITC, and the
average credit amount is $2,254 (IRS 2013). After expansions
to the EITC in the late 1980s through the late 1990s—under
Democrat and Republican administrations—the EITC now
occupies a central place in the U.S. safety net. Based on the
Census Bureau’s 2012 Supplemental Poverty Measure (SPM),
the EITC keeps 6.5 million people, including 3.3 million
children, out of poverty (Center on Budget and Policy
Priorities [CBPP] 2014a). No other tax or transfer program
prevents more children from living a life of poverty, and only
Social Security keeps more people above poverty.
Since the EITC is only eligible to tax filers who work, the
credit’s impact on poverty takes place through encouraging
employment by ensuring greater pay after taxes. The empirical
research shows that the tax credit translates into sizable
and robust increases in employment (Eissa and Liebman
1996; Meyer and Rosenbaum 2000, 2001). Thus, the credit
reduces poverty through two channels: the actual credit, and
increases in family earnings. This dual feature gives the EITC
a unique place in the U.S. safety net; in contrast, many other
programs redistribute income while, at least to some degree,
discouraging work. Importantly, transferring income while
encouraging work makes the EITC an efficient and cost-
effective policy for increasing the after-tax income of low-
earning Americans.
Yet a program of this size and impact could be more equitable
in its reach. Under the current design of the EITC, childless
earners and families with only one child, for instance, receive
disproportionately lower refunds.
In 2014, families with two children (three or more children) are
eligible for a maximum credit of $5,460 ($6,143) compared to
$3,305 for families with one child. Married couples, despite their
larger family sizes, receive only modestly more-generous EITC
benefits compared to single filers.1 Childless earners benefit little
from the EITC, and have a maximum credit of only $496—less
than 10 percent of the two-child credit.
Prominent proposals seek to mitigate these inequalities.
President Obama’s fiscal year 2015 budget includes an expansion
of the childless EITC, a concept outlined by John Karl Scholz in
2007 in a proposal for The Hamilton Project. Notably, MDRC
is currently evaluating Paycheck Plus, a pilot program for an
expanded EITC for workers without dependent children, for
the New York City Center for Economic Opportunity (MDRC
2014). The recent Hamilton Project pr.
In this discussion of frac sand mining in Wisconsin, Kim Wright, Executive Director of Midwest Environmental Advocates, Inc., examines environmental and public health issues.
Election landscape for the 2014 State Senate and Assembly in Wisconsin presented by Matt Brusky, Deputy Director of Citizen Action of Wisconsin on March 13, 2014.
A PowerPoint presentation by Mike Wilder, Community Coalition Organizer for Wisconsin Jobs Now, on the positive economic impact raising the minimum wage will have in Wisconsin (and everywhere in the country that adopts a higher minimum wage).
In a May 9, 2024 paper, Juri Opitz from the University of Zurich, along with Shira Wein and Nathan Schneider form Georgetown University, discussed the importance of linguistic expertise in natural language processing (NLP) in an era dominated by large language models (LLMs).
The authors explained that while machine translation (MT) previously relied heavily on linguists, the landscape has shifted. “Linguistics is no longer front and center in the way we build NLP systems,” they said. With the emergence of LLMs, which can generate fluent text without the need for specialized modules to handle grammar or semantic coherence, the need for linguistic expertise in NLP is being questioned.
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Future Of Fintech In India | Evolution Of Fintech In IndiaTheUnitedIndian
Navigating the Future of Fintech in India: Insights into how AI, blockchain, and digital payments are driving unprecedented growth in India's fintech industry, redefining financial services and accessibility.
ys jagan mohan reddy political career, Biography.pdfVoterMood
Yeduguri Sandinti Jagan Mohan Reddy, often referred to as Y.S. Jagan Mohan Reddy, is an Indian politician who currently serves as the Chief Minister of the state of Andhra Pradesh. He was born on December 21, 1972, in Pulivendula, Andhra Pradesh, to Yeduguri Sandinti Rajasekhara Reddy (popularly known as YSR), a former Chief Minister of Andhra Pradesh, and Y.S. Vijayamma.
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
role of women and girls in various terror groupssadiakorobi2
Women have three distinct types of involvement: direct involvement in terrorist acts; enabling of others to commit such acts; and facilitating the disengagement of others from violent or extremist groups.
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
27052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Welcome to the new Mizzima Weekly !
Mizzima Media Group is pleased to announce the relaunch of Mizzima Weekly. Mizzima is dedicated to helping our readers and viewers keep up to date on the latest developments in Myanmar and related to Myanmar by offering analysis and insight into the subjects that matter. Our websites and our social media channels provide readers and viewers with up-to-the-minute and up-to-date news, which we don’t necessarily need to replicate in our Mizzima Weekly magazine. But where we see a gap is in providing more analysis, insight and in-depth coverage of Myanmar, that is of particular interest to a range of readers.
हम आग्रह करते हैं कि जो भी सत्ता में आए, वह संविधान का पालन करे, उसकी रक्षा करे और उसे बनाए रखे।" प्रस्ताव में कुल तीन प्रमुख हस्तक्षेप और उनके तंत्र भी प्रस्तुत किए गए। पहला हस्तक्षेप स्वतंत्र मीडिया को प्रोत्साहित करके, वास्तविकता पर आधारित काउंटर नैरेटिव का निर्माण करके और सत्तारूढ़ सरकार द्वारा नियोजित मनोवैज्ञानिक हेरफेर की रणनीति का मुकाबला करके लोगों द्वारा निर्धारित कथा को बनाए रखना और उस पर कार्यकरना था।
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
1. The Collision between the War on
Poverty and Recent Tax Policy Choices
For the Grassroots Northshore webinar series
January 23, 2014
Jon Peacock, project director (jpeacock@wccf.org)
Wisconsin Budget Project
Wisconsin Council on Children and Families
2. Housekeeping
Participants are on mute to avoid feedback
You will be able to ask questions later using the
chat tool in the lower left corner of the screen.
To use the tool, type your message and then
use the return key to send it.
3. Agenda
Trends in poverty and inequality, and
the role of safety net programs
The role of tax policy choices in
exacerbating inequality
What we can do
3
4. % Poverty Over Time: 1959-2010
Children and Seniors
Sachs JD. The Price of Civilization. 2011, Random House, NY. Chapter 10, pp. 185-208
9. Tax Increases in the 2011-13 Budget
for Low-income Households
While cutting taxes for the wealthy, the 2011-13 budget
raised taxes on low-income households by:
Cutting the state Earned Income Tax Credit (EITC), which is
now worth $121 less for a single mom with two kids who
makes $23,000 per year; and
Ending the practice of annually adjusting the formula for
the Homestead tax credit for inflation – which means the
credit will be about $170 less in 2015 than it was worth in 2011
for an elderly person with a Social Security income of about
$15,000 per year (growing by an average of 2.5% per year).
13. Takeaways
Antipoverty programs do work, but they are
underfunded, and have to work against an economic
tide creating more poverty and inequality.
The forces behind that opposing tide include a variety
of public policy choices, including state-level tax policy
decisions.
We can make a difference by speaking out (e.g., letters
to the editor, social media, contacting legislators)
14. Follow WCCF
WCCF Website: www.wccf.org
Facebook: https://www.facebook.com/wiskids
Follow us on Twitter: https://twitter.com/wiskids
Kids Count Data Center: http://datacenter.kidscount.org/
WCCF Blog: http://www.wiskids.blogspot.com/
Wisconsin Budget Project: http://www.wisconsinbudgetproject.org/
Budget Project blog:
http://www.wisconsinbudgetproject.org/category/blog
Jon Peacock (jpeacock@wccf.org)
555 West Washington Avenue, Suite 200
Madison WI 53703
608-284-0580
14
15. Upcoming Webinars
Tune in for more webinars at this time each Thursday.
For information about upcoming and past webinars,
go to: www.grassrootsnorthshore.com
This presentation will be posted there in a few days,
and also at www.wisconsinbudgetproject.org
Editor's Notes
Children are the poorest group, and young children are the poorest, significant for early brain development. This wasn’t always the case. When people say there is nothing we can do – this level of poverty is inevitable within a capitalist society – there are winners and losers – get used to it, I respond – look what we did for seniors. We made a choice. We could make the same choice for kids. We must make that choice – the future of our economy depends on it.
It wasn’t always like this. A half century ago, the elderly were the social group with the highest rate of poverty (35% in 1959). Then came expansion of Social Security and introduction of Medicare, it plummeted to 25 in 1969, etc. The pattern for children was a different story. It dropped from 27 % to 14% in the 60s due to Medicaid and other social support, but began a gradual long-term climb so that now more than 1 in 5 children grows up in poverty. Government can work and we have made decisions as a society to support the elderly, but not to the same degree children. BTW, if we take these benefits away from seniors, their poverty level would increase 5-fold, back up to 1959 levels.So when people say there is nothing we can do – this level of poverty is inevitable within a capitalist society – there are winners and losers – get used to itI respond – look what we did for seniors. We made a choice. We could make the same choice for kids. We must make that choice – the future of our economy depends on it
