Today's political environment has confused many Americans about the income tax system. Understand what our tax system is designed to do and what are some of the alternatives that have been proposed.
This document discusses key concepts related to government spending and taxation in the United States. It defines Gross Domestic Product (GDP) as the total value of goods and services produced, and notes that 34% of all government spending is funded through GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of economic output for states and regions. The document outlines various taxes levied by federal, state, and local governments, including income, sales, property, corporate and excise taxes. It also discusses principles of taxation such as equity, yield, elasticity, political accountability, and acceptability.
This document discusses different levels of government spending and taxation in the United States. It begins by defining Gross Domestic Product (GDP) as the total value of goods and services produced in the country, and how 34% of all government spending goes towards GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of individual state and regional economies. The document then examines various types of taxes used by national, state, and local governments, including income, sales, property, corporate and excise taxes. It concludes by outlining five principles for evaluating different tax systems: equity, yield, elasticity, political accountability, and acceptability.
1. The document outlines a four step process for 1099 contractors to achieve financial success: protect what you have through insurance, take control of cash flow, invest wisely, and manage taxes.
2. It discusses the importance of medical, disability, and life insurance to protect one's assets and income.
3. It recommends building a cash reserve and paying down credit cards to take control of cash flow.
4. Investing in tax-advantaged accounts like 401ks, SEPs, and mutual funds for long-term growth is presented as a key part of investing wisely.
5. Higher-income individuals are noted to pay the majority of federal income taxes, so managing taxes is
There are two certainties in life - death and taxes. Taxes pay for many essential government services like infrastructure, education, healthcare, and protection from harm. Some key taxes include property taxes that fund local services like schools, sales taxes added at purchase on various goods, and income taxes which are the largest source of funding for government and are assessed progressively based on earnings. Other taxes include payroll taxes like Social Security and Medicare, business taxes, estate taxes on large inheritances, and excise taxes on specific products. Overall taxes are how modern societies fund public services that benefit all.
This document summarizes abortion policies in New York State. It discusses that federal funding for abortions is limited by the Hyde Amendment, but 15 states including New York use state funds. It also notes that New York does not require parental involvement for minors seeking abortions. The document argues this could enable minors to get secret Medicaid-funded abortions. It questions why abortion has fewer age restrictions than activities like smoking or military service. In closing, it calls for upholding the Hyde Amendment, enacting parental notification in New York, ending certain Medicaid taxes, and simplifying the adoption process.
Celebrate International Plain Language Day by taking the Toronto Plain Language Challenge. Presentation with Sally McBeth, Clear Language and Design. Find out more.
This document discusses the risks and disadvantages of qualified retirement plans like 401(k)s compared to tax-free retirement plans. It summarizes that qualified plans have primary risks of market losses, high fees, future tax rate increases, and longevity risk. However, tax-free plans offer guarantees of no market losses due to a cap and floor structure, 30-50% lower fees, tax-free income for life, lifetime income even after taking loans, and flexible contributions. The document advocates that tax-free plans provide superior benefits and are a safer alternative to qualified plans.
Today's political environment has confused many Americans about the income tax system. Understand what our tax system is designed to do and what are some of the alternatives that have been proposed.
This document discusses key concepts related to government spending and taxation in the United States. It defines Gross Domestic Product (GDP) as the total value of goods and services produced, and notes that 34% of all government spending is funded through GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of economic output for states and regions. The document outlines various taxes levied by federal, state, and local governments, including income, sales, property, corporate and excise taxes. It also discusses principles of taxation such as equity, yield, elasticity, political accountability, and acceptability.
This document discusses different levels of government spending and taxation in the United States. It begins by defining Gross Domestic Product (GDP) as the total value of goods and services produced in the country, and how 34% of all government spending goes towards GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of individual state and regional economies. The document then examines various types of taxes used by national, state, and local governments, including income, sales, property, corporate and excise taxes. It concludes by outlining five principles for evaluating different tax systems: equity, yield, elasticity, political accountability, and acceptability.
1. The document outlines a four step process for 1099 contractors to achieve financial success: protect what you have through insurance, take control of cash flow, invest wisely, and manage taxes.
2. It discusses the importance of medical, disability, and life insurance to protect one's assets and income.
3. It recommends building a cash reserve and paying down credit cards to take control of cash flow.
4. Investing in tax-advantaged accounts like 401ks, SEPs, and mutual funds for long-term growth is presented as a key part of investing wisely.
5. Higher-income individuals are noted to pay the majority of federal income taxes, so managing taxes is
There are two certainties in life - death and taxes. Taxes pay for many essential government services like infrastructure, education, healthcare, and protection from harm. Some key taxes include property taxes that fund local services like schools, sales taxes added at purchase on various goods, and income taxes which are the largest source of funding for government and are assessed progressively based on earnings. Other taxes include payroll taxes like Social Security and Medicare, business taxes, estate taxes on large inheritances, and excise taxes on specific products. Overall taxes are how modern societies fund public services that benefit all.
This document summarizes abortion policies in New York State. It discusses that federal funding for abortions is limited by the Hyde Amendment, but 15 states including New York use state funds. It also notes that New York does not require parental involvement for minors seeking abortions. The document argues this could enable minors to get secret Medicaid-funded abortions. It questions why abortion has fewer age restrictions than activities like smoking or military service. In closing, it calls for upholding the Hyde Amendment, enacting parental notification in New York, ending certain Medicaid taxes, and simplifying the adoption process.
Celebrate International Plain Language Day by taking the Toronto Plain Language Challenge. Presentation with Sally McBeth, Clear Language and Design. Find out more.
This document discusses the risks and disadvantages of qualified retirement plans like 401(k)s compared to tax-free retirement plans. It summarizes that qualified plans have primary risks of market losses, high fees, future tax rate increases, and longevity risk. However, tax-free plans offer guarantees of no market losses due to a cap and floor structure, 30-50% lower fees, tax-free income for life, lifetime income even after taking loans, and flexible contributions. The document advocates that tax-free plans provide superior benefits and are a safer alternative to qualified plans.
Description: Where we stand on a series of potential tax law changes – including the end to the so-called “Bush era tax cuts”, as well as new taxes that were enacted as part of the health care reform legislation.
The document discusses how large corporations and Wall Street want austerity measures and cuts to social programs to lower their tax rates and avoid paying taxes, despite most Americans wanting the wealthy and corporations to pay more. It outlines how the "Fix the Debt" campaign of CEOs is lobbying for these changes but polling shows the public supports closing tax loopholes, ensuring the rich pay their fair share, and does not want cuts to education, Medicare, Medicaid, or Social Security. In the end, the document argues Americans want corporations to pay their fair share rather than enacting cuts-only approaches to deficit reduction favored by large companies.
1) Same-sex married couples must file their federal tax return as single or head of household due to DOMA, which does not recognize same-sex marriage. However, they can file their state (Iowa) return as married.
2) To file the state return, same-sex couples must prepare a "mock" joint federal return to determine their combined income and deductions as if they were married, since the state return is based on the federal return.
3) On the federal return, dependents and filing statuses like head of household are limited, whereas on the state return same-sex married couples have more options available to them like filing jointly that typically results in lower taxes.
The document discusses Congressman Jim Jordan and the Economic Freedom Act, a bill introduced to replace stimulus plans and promote economic recovery through reducing taxes and government spending. The bill would halve the payroll tax for 2010, eliminate the capital gains and death taxes, and lower the corporate tax rate to 12.5% to encourage business growth and job creation. However, the bill currently remains in committee as Democrats are unlikely to allow it to the House floor, but Republicans may support bringing it to a vote if they gain a majority in November. Congressman Tom Rooney also announced his support for the bill, arguing it would help Florida businesses and address the state's high unemployment rates.
The document summarizes changes to the estate, gift, and generation-skipping transfer (GST) taxes under the 2010 Tax Relief Act. It notes that the estate tax exemption will increase to $5 million per person for 2011-2012 and the top tax rate will be reduced to 35%. It also discusses the new portability provision that allows the unused exemption of a deceased spouse to be transferred to the surviving spouse. The document recommends taking advantage of the increased gift and estate tax exemptions over the next two years through gifting and outlines options for estate planning structures.
Three-strikes laws passed in the 1980s require life imprisonment for those convicted of a third felony. California saw reduced crime rates after passing such laws. However, they can also lead to over-criminalization, as marijuana offenders are 4 times more likely to be arrested. Poverty levels are determined based on the cost of a basic food plan, though new groups facing poverty include female-headed households. Nearly half of African American female-headed households live in poverty. While some claim only 600,000 are homeless, organizations working with the homeless estimate the number is between 2-3 million. Social Security and Supplemental Security Income help address poverty, though Social Security is projected to fall short starting in 2042.
Unemployment insurance is a program that provides temporary financial assistance to unemployed workers. It is funded by taxes paid by employers. Many state unemployment insurance trust funds are facing insolvency due to increased benefits being paid out during the economic downturn. In response, Maryland increased unemployment insurance taxes on employers in 2010 by raising tax rates and the taxable wage base. However, this places additional costs on both low-wage and high-wage workers. It is recommended that Maryland revise its tax policy to build up reserve funds in its trust by proportionally lowering tax rates and raising the taxable ceiling. This would stabilize the unemployment program and provide benefits to unemployed citizens without unduly burdening employers.
A survey of over 50 top economic officials from the past 8 presidential administrations and Congress found broad bipartisan agreement that:
1) The US is on an unsustainable long-term fiscal path and failure to address structural deficits will likely lead to another economic crisis within 10 years.
2) Both spending cuts and tax increases are needed to solve the country's long-term deficit challenges.
3) The government should begin taking action within the next 1-2 years to address long-term fiscal issues through entitlement reform, overall spending cuts, and tax increases.
Overview of the ACA legislation recently ruled on by the UC Supreme Court. By Jaime S. King, JD UCSF / UC Hastings Consortium on Law, Science and Health Policy. http://www.uchastings.edu
This worksheet is geared toward helping young people determine whether they have the financial means to move out on their
own and maintain their desired lifestyle. One-time or yearly costs are listed as lump sums. Periodic costs are computed on a
monthly basis.
Fixing A Broken Congress PanelPicker ProposalMichaelSteel23
The vast majority of Americans are frustrated with the constant partisan gridlock in Congress. Fewer and fewer laws are being passed and the threat of a government shutdown is always present. What needs to be reformed on Capitol Hill so our legislators can start legislating again? This panel will propose cultural and procedural ideas from four former Hill staffers from both sides of the aisle for how we can help Congress get back to work for the American people.
This proposal is for SXSW PanelPicker 2019
The document discusses Senator Aquilino Pimentel's proposal to amend the Philippine constitution to shift to a federal system of government from the current unitary system. It aims to spur economic development and resolve conflicts like in Mindanao. The proposal outlines 11 federal states but has faced criticism that federalism will not necessarily lead to economic success and may divide the country further. Some argue the root causes of underdevelopment and rebellion are issues like inequitable wealth distribution, corruption, and lack of land reform, and a system change alone will not address these issues. Overall, there are doubts that federalism is the solution and alternative options like strengthening local governance may better achieve development goals.
The document discusses Massachusetts state budget shortfalls and potential options to close a $5.4 billion gap. It notes that 73% of state spending goes to education, local aid, healthcare, and human services. Even eliminating all state human services agencies or education spending would not close the full gap. Potential revenue generators discussed include closing tax loopholes, increasing various taxes by 1% including the corporate tax, gas tax, meals and hotel taxes, and income and sales taxes. Raising property taxes is also mentioned but impacts would depend on location.
This document discusses tax filing issues for same-sex married couples in light of the Defense of Marriage Act (DOMA) which defines marriage as one man and one woman for federal purposes. It outlines that on federal returns, same-sex couples can only use the single or head of household filing status, while on Iowa returns they must use a married filing status. It provides details on how to prepare "mock" joint federal returns to use income information for the Iowa state return, which taxes same-sex married couples as married. It also discusses dependent claims, health insurance benefits, and gift tax implications for same-sex married couples.
1) Gray divorces refer to divorces among older, wealthier couples in long-term marriages as the divorce rate has doubled for those over 50 years old. These divorces present challenges for courts dealing with equitable distribution of substantial marital assets that may include inherited wealth or business interests.
2) A core issue is appropriately allocating growth in the value of businesses between active contributions from spousal efforts versus passive contributions from economic factors outside their control like market conditions.
3) The document proposes a method for empirically estimating the relative impact of passive economic factors on growth in business value to help courts make this allocation in gray divorce property distributions.
Are you ready to move to the retirement home you've been dreaming of? You may want to consider how each state treats Social Security income before making your final decision.
- The document summarizes changes to Virginia tax law and status for tax year 2006, including conformity to certain federal acts but not recognition of federal bonus depreciation or NOL carrybacks.
- It outlines tax treatment of tobacco payments and buyouts, an expanded low-income tax credit, a new long-term care insurance credit, and new voluntary contribution options.
- Upcoming changes for 2007 include a subtraction for certain death benefits and a deduction for certain personal property.
Vermonters for Economic Health (VEH) is a non-partisan organization that examines Vermont's economic health by looking at tax burdens, spending, job growth, and demographics. They find that Vermont has the highest tax burden in the country, spending is growing much faster than inflation while private sector jobs are declining, and the state is losing young people. VEH proposes growing the private sector through reducing obstacles to job growth, containing spending increases, and electing officials committed to improving Vermont's economic health.
The document discusses income inequality and the government's role in addressing it. It provides data showing disparities in income distribution in the US and how government taxes and transfers help reduce inequality. It also examines causes of inequality like differences in skills, education and household size, and debates around minimum wage laws and welfare programs.
Description: Where we stand on a series of potential tax law changes – including the end to the so-called “Bush era tax cuts”, as well as new taxes that were enacted as part of the health care reform legislation.
The document discusses how large corporations and Wall Street want austerity measures and cuts to social programs to lower their tax rates and avoid paying taxes, despite most Americans wanting the wealthy and corporations to pay more. It outlines how the "Fix the Debt" campaign of CEOs is lobbying for these changes but polling shows the public supports closing tax loopholes, ensuring the rich pay their fair share, and does not want cuts to education, Medicare, Medicaid, or Social Security. In the end, the document argues Americans want corporations to pay their fair share rather than enacting cuts-only approaches to deficit reduction favored by large companies.
1) Same-sex married couples must file their federal tax return as single or head of household due to DOMA, which does not recognize same-sex marriage. However, they can file their state (Iowa) return as married.
2) To file the state return, same-sex couples must prepare a "mock" joint federal return to determine their combined income and deductions as if they were married, since the state return is based on the federal return.
3) On the federal return, dependents and filing statuses like head of household are limited, whereas on the state return same-sex married couples have more options available to them like filing jointly that typically results in lower taxes.
The document discusses Congressman Jim Jordan and the Economic Freedom Act, a bill introduced to replace stimulus plans and promote economic recovery through reducing taxes and government spending. The bill would halve the payroll tax for 2010, eliminate the capital gains and death taxes, and lower the corporate tax rate to 12.5% to encourage business growth and job creation. However, the bill currently remains in committee as Democrats are unlikely to allow it to the House floor, but Republicans may support bringing it to a vote if they gain a majority in November. Congressman Tom Rooney also announced his support for the bill, arguing it would help Florida businesses and address the state's high unemployment rates.
The document summarizes changes to the estate, gift, and generation-skipping transfer (GST) taxes under the 2010 Tax Relief Act. It notes that the estate tax exemption will increase to $5 million per person for 2011-2012 and the top tax rate will be reduced to 35%. It also discusses the new portability provision that allows the unused exemption of a deceased spouse to be transferred to the surviving spouse. The document recommends taking advantage of the increased gift and estate tax exemptions over the next two years through gifting and outlines options for estate planning structures.
Three-strikes laws passed in the 1980s require life imprisonment for those convicted of a third felony. California saw reduced crime rates after passing such laws. However, they can also lead to over-criminalization, as marijuana offenders are 4 times more likely to be arrested. Poverty levels are determined based on the cost of a basic food plan, though new groups facing poverty include female-headed households. Nearly half of African American female-headed households live in poverty. While some claim only 600,000 are homeless, organizations working with the homeless estimate the number is between 2-3 million. Social Security and Supplemental Security Income help address poverty, though Social Security is projected to fall short starting in 2042.
Unemployment insurance is a program that provides temporary financial assistance to unemployed workers. It is funded by taxes paid by employers. Many state unemployment insurance trust funds are facing insolvency due to increased benefits being paid out during the economic downturn. In response, Maryland increased unemployment insurance taxes on employers in 2010 by raising tax rates and the taxable wage base. However, this places additional costs on both low-wage and high-wage workers. It is recommended that Maryland revise its tax policy to build up reserve funds in its trust by proportionally lowering tax rates and raising the taxable ceiling. This would stabilize the unemployment program and provide benefits to unemployed citizens without unduly burdening employers.
A survey of over 50 top economic officials from the past 8 presidential administrations and Congress found broad bipartisan agreement that:
1) The US is on an unsustainable long-term fiscal path and failure to address structural deficits will likely lead to another economic crisis within 10 years.
2) Both spending cuts and tax increases are needed to solve the country's long-term deficit challenges.
3) The government should begin taking action within the next 1-2 years to address long-term fiscal issues through entitlement reform, overall spending cuts, and tax increases.
Overview of the ACA legislation recently ruled on by the UC Supreme Court. By Jaime S. King, JD UCSF / UC Hastings Consortium on Law, Science and Health Policy. http://www.uchastings.edu
This worksheet is geared toward helping young people determine whether they have the financial means to move out on their
own and maintain their desired lifestyle. One-time or yearly costs are listed as lump sums. Periodic costs are computed on a
monthly basis.
Fixing A Broken Congress PanelPicker ProposalMichaelSteel23
The vast majority of Americans are frustrated with the constant partisan gridlock in Congress. Fewer and fewer laws are being passed and the threat of a government shutdown is always present. What needs to be reformed on Capitol Hill so our legislators can start legislating again? This panel will propose cultural and procedural ideas from four former Hill staffers from both sides of the aisle for how we can help Congress get back to work for the American people.
This proposal is for SXSW PanelPicker 2019
The document discusses Senator Aquilino Pimentel's proposal to amend the Philippine constitution to shift to a federal system of government from the current unitary system. It aims to spur economic development and resolve conflicts like in Mindanao. The proposal outlines 11 federal states but has faced criticism that federalism will not necessarily lead to economic success and may divide the country further. Some argue the root causes of underdevelopment and rebellion are issues like inequitable wealth distribution, corruption, and lack of land reform, and a system change alone will not address these issues. Overall, there are doubts that federalism is the solution and alternative options like strengthening local governance may better achieve development goals.
The document discusses Massachusetts state budget shortfalls and potential options to close a $5.4 billion gap. It notes that 73% of state spending goes to education, local aid, healthcare, and human services. Even eliminating all state human services agencies or education spending would not close the full gap. Potential revenue generators discussed include closing tax loopholes, increasing various taxes by 1% including the corporate tax, gas tax, meals and hotel taxes, and income and sales taxes. Raising property taxes is also mentioned but impacts would depend on location.
This document discusses tax filing issues for same-sex married couples in light of the Defense of Marriage Act (DOMA) which defines marriage as one man and one woman for federal purposes. It outlines that on federal returns, same-sex couples can only use the single or head of household filing status, while on Iowa returns they must use a married filing status. It provides details on how to prepare "mock" joint federal returns to use income information for the Iowa state return, which taxes same-sex married couples as married. It also discusses dependent claims, health insurance benefits, and gift tax implications for same-sex married couples.
1) Gray divorces refer to divorces among older, wealthier couples in long-term marriages as the divorce rate has doubled for those over 50 years old. These divorces present challenges for courts dealing with equitable distribution of substantial marital assets that may include inherited wealth or business interests.
2) A core issue is appropriately allocating growth in the value of businesses between active contributions from spousal efforts versus passive contributions from economic factors outside their control like market conditions.
3) The document proposes a method for empirically estimating the relative impact of passive economic factors on growth in business value to help courts make this allocation in gray divorce property distributions.
Are you ready to move to the retirement home you've been dreaming of? You may want to consider how each state treats Social Security income before making your final decision.
- The document summarizes changes to Virginia tax law and status for tax year 2006, including conformity to certain federal acts but not recognition of federal bonus depreciation or NOL carrybacks.
- It outlines tax treatment of tobacco payments and buyouts, an expanded low-income tax credit, a new long-term care insurance credit, and new voluntary contribution options.
- Upcoming changes for 2007 include a subtraction for certain death benefits and a deduction for certain personal property.
Vermonters for Economic Health (VEH) is a non-partisan organization that examines Vermont's economic health by looking at tax burdens, spending, job growth, and demographics. They find that Vermont has the highest tax burden in the country, spending is growing much faster than inflation while private sector jobs are declining, and the state is losing young people. VEH proposes growing the private sector through reducing obstacles to job growth, containing spending increases, and electing officials committed to improving Vermont's economic health.
The document discusses income inequality and the government's role in addressing it. It provides data showing disparities in income distribution in the US and how government taxes and transfers help reduce inequality. It also examines causes of inequality like differences in skills, education and household size, and debates around minimum wage laws and welfare programs.
This document discusses the economic challenges facing many of West Virginia's working families and proposes establishing a State Earned Income Tax Credit (SEITC) to help address these issues. It notes that over 300,000 residents live below the poverty level, including 87,000 children, and that stagnant wages, rising costs of living, and tax structure have contributed to families' struggles. A SEITC modeled after successful programs in other states could provide additional income to an estimated 90,000 households and promote greater economic security, particularly for those with incomes just above the poverty line.
The affects of government budgets on inequalitiesCCPANS
This presentation was part of a lunch and learn hosted by the Canadian Centre for Policy Alternatives-NS and the Community Coalition to End Poverty NS entitled Where’s the Social and Economic Justice in Recent Government Budgets? Other panelists included Wayne MacNaughton from the Community Advocates Network and Sheri Lecker from Adsum for Women in Children.
Towards a fair tax policy for families (iona conference may 2011 dublin)saunderspeter
The document discusses how traditional tax policies supported families through horizontal equity by providing tax allowances for spouses and children. However, recent policies have eliminated these allowances and moved support to means-tested welfare. This undermines horizontal equity, family self-reliance, and parenting stability. The document argues for restoring tax allowances for children and couples to re-establish a fair family tax policy separate from welfare.
J.D. Foster Presentation on Taxes to the Chicago Committee for Heritage 1/20/...The Heritage Foundation
The document discusses the growing budget deficit and national debt in the United States. It notes that while government receipts have declined significantly since 2007, spending has continued to rise rapidly. This is producing unsustainable deficits and debt levels as a percentage of GDP. The document argues that in order to address these deficits, taxes will need to be increased, particularly through implementing a value-added tax (VAT). It claims a VAT could generate substantial revenue with relatively low political opposition compared to income tax increases. However, it also notes that reducing spending dramatically could be an alternative to accepting higher taxes through a VAT.
The document discusses the high level of "churning" that occurs within Australia's welfare system, where around half of all welfare spending is returned to individuals in the form of benefits during their lifetime that they had previously paid in taxes. This level of churning is economically inefficient and unsustainable long-term. The document proposes several policy options to reduce churning such as making the pension and healthcare systems more voluntary and personal.
Bob Edgar, president of Common Cause, discusses current opportunities for campaign finance reform at the federal level. He outlines Common Cause's support for citizen-funded elections through the Fair Elections Now Act, which would provide public funding for congressional candidates who obtain enough small donations. Recent polls show strong bipartisan public support for reform to reduce the influence of money in politics. Support also comes from various organizations, President Obama, and some political donors and lobbyists. Edgar argues for passing the Fair Elections Now Act and fixing the presidential public financing system to get elected officials out of endless fundraising and end "pay-to-play" politics.
The document summarizes Illinois' fiscal crisis and the tax increases passed in 2011 to address a large budget deficit. It describes how Illinois had structural deficits due to over-reliance on property taxes and underfunding of services. The tax increases generated $7.3 billion annually but deficits remained over $1 billion due to inadequate revenues and increasing costs of education, healthcare, and human services. Further reforms are needed to generate additional revenue in a fair manner.
The document summarizes Illinois' fiscal crisis and the tax increases passed in 2011 to address a large budget deficit. It describes how Illinois has historically relied too heavily on property taxes and lacked a fair tax system. The tax increases were expected to generate $7.3 billion annually but deficits remain due to inadequate revenues and increasing costs for education, healthcare, and human services. Further reforms and revenue options are needed to structurally address Illinois' budget problems.
TN
MS
MA
RI
ME
GA
LA
FL
AK
HI
State-based Marketplace
State Partnership Marketplace
Federally-facilitated Marketplace
State Exchange, but not certified by HHS
No Exchange
The document discusses how the Affordable Care Act aims to address the issues of uninsured Americans and rising healthcare costs. It does this through expanding Medicaid eligibility, providing subsidies for private insurance, creating state-based health insurance exchanges, and mandating coverage. It provides details on eligibility for subsidies and Medicaid expansion. It also outlines the penalties for those who remain uninsured and timeline for implementation of key provisions.
Health Care Reform Proposals Including the President’s PlanTom Daly
Michael Bertaut, Senior Healthcare Intelligence Analyst for Blue Cross Blue Shield of Louisiana provides an update on Healthcare Reform efforts including a review of the President's Plan released on February 22nd.
Briefing on the Hawaii State Budget (Jan, 2013)James Koshiba
Designed to help people understand the State Budget enough to become more effective participants in conversations about it - with each other, and with our lawmakers. Presented at a workshop, open to the public, at the Hawaii State Capitol, January 2013.
The document discusses the importance of institutions for economic excellence and uses Zimbabwe as an example of the destruction of institutions leading to economic decline. It summarizes the state of key institutions and economic policies in South Africa, noting both areas of excellence and potential threats to institutions. Overall economic growth in South Africa has averaged 3.0% annually.
CRFB_Fiscal Policy in High Inflation.pptxCRFBGraphics
The document summarizes the economic impact of the COVID-19 pandemic and policy response in the United States. It shows that:
1) The pandemic devastated the US economy, causing unprecedented job losses, but the policy response through COVID relief legislation was aggressive and supported an economic recovery.
2) However, the relief was clearly too large and boosted income and consumption substantially above pre-pandemic trends, leading to overheating of the economy and high inflation rates not seen in decades.
3) Inflation remains elevated and risks persisting due to various factors like wage-price spirals, so the Federal Reserve plans to aggressively raise interest rates to combat inflation though achieving a "soft landing" will be difficult.
- Medicare spending is growing rapidly due to factors like an aging population, rising healthcare costs, and the prescription drug benefit. If no action is taken, Medicare expenditures are projected to exceed total income by 2009.
- Past attempts to reduce Medicare spending growth have mostly failed. The government will likely take action between 2009-2012 through measures like higher taxes, reducing payments to drug companies and providers, and potentially changing eligibility ages.
- Which political party holds power will not significantly impact the need for action. The government has leverage over drug companies and will likely negotiate lower prices.
The document discusses the growing wage gap and declining unionization rates in the United States from 1947 to present. It outlines national and state level assaults on workers' rights through "right to work" laws and restrictions on collective bargaining. While some anti-union legislation was prevented, other measures like restrictions on teachers and public employees were passed in 2011. The document argues "right to work" laws drive down wages and benefits for all workers.
FMB orlando presentation on economy and politics May_2021.pdfJeremy Oberfeld
The document provides an economic and market outlook from Philip J. Orlando, Chief Equity Strategist at Federated Advisory Services Company. Some key points:
1) The divided government in Washington may lead to more moderate fiscal policy that seeks compromise between Democrats and Republicans.
2) Democrats have narrow majorities in Congress and some moderate Senators could act as a check on more progressive policies.
3) Higher corporate taxes and minimum wages proposed by Biden could negatively impact corporate earnings and employment.
4) Inflation has been rising from very low levels and nominal commodity prices have increased sharply, but the Federal Reserve intends to keep interest rates low to support the economic recovery.
Presentation to the Oregon Legislature on the latest economic and revenue outlook for the State of Oregon. Overview of the U.S. and international economic landscape in addition to what is happening in Oregon. Tax revenue tracking and outlook for personal income taxes, corporate income taxes and Lottery sales.
Bill Beach, director of The Heritage Foundations' Center for Data Analysis, argues that a flat income tax or a consumption tax would resolve the unfairness and economic distortion of the current tax code. He delivered this presentation on October 22, 2009 at a meeting sponsored by the Naples Committee for Heritage.
Testimony before HRES on South Central GasBrad Keithley
By invitation, we testified before the Alaska House Resources Committee on March 15, 2024, on Southcentral Gas Supply. The presentation was part of the Committee's look into the implications of the challenges currently facing Cook Inlet gas supplies.
The presentation addressed both energy and fiscal policy. Our theme was simple: " Let the market decide" and no subsidies. But if there are subsidies, they should be paid for other than through PFD cuts.
The slide-deck we used is attached here. The hearing itself is available at https://bit.ly/48YyBFf.
Presentation to Greater Fairbanks Chamber of Commerce's Government Relations ...Brad Keithley
Our September 27, 2022, presentation to the Greater Fairbanks Chamber of Commerce's Govt Relations Comm on Alaska's current fiscal situation and our views on the positions of the candidates for Alaska Governor in response.
Comments in opposition to SB 199 & SB 200 (2.20.2022)Brad Keithley
The comments of Alaskans for Sustainable Budgets in opposition to Senate Finance Committee bills SB 199 & SB 200, which propose to substantially restructure and cut the Permanent Fund Dividend.
HB 202 (HFIN): Comments of Alaskans for Sustainable BudgetsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets with the House Finance Committee on HB 202 (Rep. Merrick) proposing a restructuring of and cuts in the Alaska Permanent Fund Dividend (PFD).
HB 202 & HB 37 (Statutory PFD Reductions): Comments of Alaskans for Sustainab...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 202 (Rep. Merrick) & HB 37 (Rep. Wool) proposing (and in the case of HB 37, some substitute revenues to reduce the level of) cuts in the Alaska Permanent Fund Dividend (PFD).
HB 189 (Employment Tax for Education): Comments of Alaskans for Sustainable B...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 189, the House Ways & Means Committee bill which would establish an employment tax for education.
HFIN CS for HB69 (work draft presented 4.23.2021): Comments of Alaskans for S...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HFIN CS for HB69, the House Finance Committee's proposed committee substitute for HB69, the Governor's proposed operating budget.
SJR6/SB53 (HJR7/HB73): Comments of Alaskans for Sustainable Budgets Comments ...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR6/SB53 (HJR7/HB73), the Governor's proposed Constitutional Amendments relating to the Alaska permanent fund, appropriations from the permanent fund, and the permanent fund dividend.
HJR1 & HB165: Comments of Alaskans for Sustainable Budgets CommentsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HJR 1 & HB165, Rep. Kreiss-Tomkin's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
SJR 1 (Guarantee Perm Fund Dividend): Comments of Alaskans for Sustainable Bu...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR 1, Sen. Wielechowski's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
The Economic Impact on Alaska of Various Fiscal Solutions (4.10.2021)Brad Keithley
This document summarizes several studies on the economic impact of different fiscal solutions for Alaska's budget deficit. The 2016 ISER study examined the impact of options like spending cuts, PFD cuts, and tax increases on income, jobs, distribution across income levels, and regions of Alaska. It found that PFD cuts would have the largest adverse impact on the economy and families. Subsequent ISER studies reinforced that PFDs significantly reduce poverty. A 2019 study argued for reduced spending and analyzed revenue options using static and dynamic models. A 2020 Tax Foundation study argued that certain taxes like sales taxes could have lower economic impact than others, but it provided limited analysis. The presentation concludes by advocating for a flat tax as the best option to
Impact of Proposed PFDCuts on Alaska Income & Jobs (Supplement to 3.4.2021 Le...Brad Keithley
This presentation is to supplement the 3.4.2021 LegFin Presentation to the Senate Finance Committee to analyze the impact of the PFDcuts discussed there on Alaska income & jobs.
Distributional Impact of Proposed PFDCuts on Alaska Families by Income Bracke...Brad Keithley
This presentation is to supplement the 3.4.2021 LegFin Presentation to the Senate Finance Committee to analyze the distributional impact by income bracket of the level of PFDcuts discussed there.
Analysis by the Legislative Finance Division of Alaska's fiscal position: how we got here, where we are and where we are headed under various alternatives.
DNR Fall 2020 Production Forecast (1.27.2021)Brad Keithley
The document provides a summary of Alaska's 2020 oil production forecast. It notes that the COVID-19 pandemic disrupted production in 2020, leading to deferred maintenance and interrupted drilling. The forecast expects average 2021 production of 470,000 barrels per day, within the range of 413,000 to 526,000 barrels per day. Currently producing fields will remain the backbone of production, while future projects under development or evaluation could help offset declining output from mature fields over the long term. However, uncertainty increases in longer-term forecasts due to risks associated with new projects.
LegFin: Preliminary Overview of the Governor's FY22 Budget (1.8.2021)Brad Keithley
The document provides a preliminary overview of Alaska's structural budget deficit and the Governor's FY2022 budget proposal. It notes that Alaska has faced nine consecutive years of budget deficits due to declining oil revenue. The Governor's budget reduces spending from the current law baseline through lower agency budgets and partial funding of items like the PFD. It draws funds from the ERA to fully pay the PFD but still faces a small deficit. The 10-year plan aims to balance the budget starting in FY2023 through dividend reductions, spending cuts, and new revenue.
Upcoming Federal Fiscal Deadlines (10.20.2020)Brad Keithley
The document outlines key fiscal and economic deadlines and expirations for 2020 through 2026, including temporary extensions of appropriations, tax provisions, and entitlement programs. Key dates include the expiration of pandemic unemployment programs and various tax extenders at the end of 2020, debt limit suspension ending in July 2021, and trust funds for Medicare, Social Security, and pensions anticipated to be exhausted between 2024-2031 based on Congressional Budget Office projections.
Concord Coalition: The Current US Fiscal Situation (October 2020)Brad Keithley
A chart talk from The Concord Coalition analyzing the fiscal challenges facing the US before COVID, and how the economic impact of COVID and the federal response has made that situation even more difficult.
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1. Alaskans for Sustainable Budgets
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There is a better way ...
2. Some argue that government should cut
spending more instead of adopting taxes
3. But last session Senate Republicans voted 12-2 to
tax the PFD instead of cutting spending more
4. For cutting the PFD instead of spending:
Sen. Pete Kelly (Fairbanks)
Sen. John Coghill (Fairbanks)
Sen. Click Bishop (Fairbanks)
Sen. David Wilson (Wasilla)
Sen. Anna MacKinnon (Eagle River)
Sen. Mia Costello (Anchorage)
Sen. Natasha vonImhoff (Anchorage)
Sen. Kevin Meyer (Anchorage)
Sen. Cathy Giessel (Anchorage)
Sen. Peter Micciche (Soldotna)
Sen. Gary Stevens (Kodiak)
Sen. Bert Stedman (Sitka)
Against
Sen. Mike Dunleavy (Wasilla)
Sen. Shelley Hughes (Palmer)
Those voting in favor gave up on making deeper
spending cuts and voted to tax the PFD instead
5. According to ISER studies, cutting the PFD has the
worst impact on the Alaska economy & families
Cutting the PFD …
▪ Has "the largest adverse
impact on the economy [of all
the new revenue options] per
dollar of revenues raised,"
▪ Is "by far the costliest measure
for Alaska families," and
▪ "[L]ikely increase[s] the
number of Alaskans below the
poverty line by 12-15,000 (2%
of Alaskans).”
6. The House approach also
relies heavily on PFD cuts
-- Even with an income tax
component it still hits middle
and lower income families(and
the economy) far harder.
And the House approach isn’t any better
Percent of income for average family of
four taken by govt under House approach
Top 20% (upper income) 4.5%
Next 20% (upper middle) 5.6%
Next 20% (middle) 7.8%
Next 20% (lower middle) 12.4%
Next 20% (low income) 24.1%
7. “… sales taxes tend to be regressive,
impacting low- and middle-income
families more heavily than high-
income families …” ~ITEP,
“Comparing the Distributional Impact
of Revenue Options in Alaska”
Some suggest a statewide sales tax,
but that also is heavily regressive
Percent of income for average family of four
taken by govt using a sales tax designed to
raise same revenue as Senate PFD cut
Top 20% (upper income) 1.5%
Next 20% (upper middle) 3.4%
Next 20% (middle) 4.7%
Next 20% (lower middle) 7.8%
Next 20% (low income) 8.1%
8. Unlike Senate, House & sales
tax approaches, a flat tax
treats all income brackets
the same
IF we are going there, a flat tax is the
much better way to raise new revenue
Senate House Sales Tax Flat Tax
Top 20% (upper income) 1.9% 4.5% 1.5% 2.8%
Next 20% (upper middle) 5.3% 5.6% 3.4% 2.8%
Next 20% (middle) 8.8% 7.8% 4.7% 2.8%
Next 20% (lower middle) 15.7% 12.4% 7.8% 2.8%
Next 20% (low income) 30.4% 24.1% 8.1% 2.8%
Percent of income for average family of four
taken by govt under various approaches
9. “Recessions generally occur when there is a
widespread drop in spending (an adverse
demand shock) … A fall-off in
consumer demand is normally the culprit”
Especially in a recession, how government raises
‘new revenue’ is critically important
▪ Taking money out of consumers’ hands makes a
recession worse.
▪ Taking money disproportionately from some
makes the recession disproportionately worse for
them and if they spend a higher percentage in the
Alaska economy, makes the recession worse also
for the overall economy.
Because of its huge disproportionate effect a
PFD cut has the “largest adverse effect” on
the overall Alaska economy and families. A
flat tax spreads the effect proportionately.
10. Alaskans for Sustainable Budgets
This presentation is available on our pages at
Facebook, Twitter & YouTube
There is a better way:
If Alaska is going to raise new revenues, a
flat tax is the much better approach