How companies compensate their employees and executives matters.
When the White House and GOP leaders passed the unpopular Tax Cuts and Jobs Act, they promised the 40 percent reduction in the corporate tax rate would benefit workers via higher wages and more corporate investment. Instead, the tax law has fueled stock buybacks and incentivized offshore tax havens.
For far too long, some elected officials and the corporate-funded think tanks and special interests that back them have sought to define the vast economic divide as inevitable, as in the rich work hard for what they have and if you’re poor or low-income, you simply haven’t worked hard enough. This paper delves into and debunks these pernicious myths that have helped define too many of our public policies.
The U.S. middle class grew significantly during the 20th century in part because the nation put in place public policies that helped families access economic opportunity and grow wealth. But the harsh truth is that, by design, these public policies benefited white communities most and often deliberately exclude communities of color.
A look at flaws in the so-called Tax Cuts and Jobs Act and recommendations to undo the damage the law inflicted upon low- and moderate-income people, while rewarding corporations and the wealthy.
This paper argues that public firms are increasingly extractive and unproductive, that shareholders and managers are reducing investments in the things that grow the economy, and that workers, consumers, and the government are being scammed. All of this hurts shared prosperity.
This paper by the Institute for Policy Studies outlines how states can address poverty and inequality in spite of the federal tax law.
This paper explores how this precarious combination has lined the pockets of the elite at the expense of working people.
This ITEP report outlines seven options for Congress to enact progressive, revenue-raising tax policies that the public has long desired, including the enactment of a wealth tax and strengthening the estate tax.
Expanding the Earned Income Tax Credit to include family caregivers is one step toward ensuring tax policies recognize unpaid care work.