TCF policy associate Jacob Anbinder discusses memorable moments from our latest conference on infrastructure, hosted by the Bernard L. Schwartz Rediscovering Government Initiative.READ MORE
Statistically speaking, the U.S. economy is due for its next recession (with the model that a recession occurs every 6 years). While the economy is in fact looking healthy now, the government has perhaps not taken the smartest steps to prevent this approaching recession. TCF's Dan Alpert suggests that in addition to “an oversupply of labor, productive capacity, and capital,” the U.S. largely ignored working-class and middle-class workers regain financial stability.
Sixty percent of Americans saw their real incomes fall, but they didn’t complain because the “shower” of easy money “allowed them to make up for lost income and maintain living standards — at least for a while.”
Read the full article.
The Century Foundation's conference, Building the Bridge: Solutions to the Infrastructure Crisis, made it into this week's edition of POLITICO's Morning Transportation.
Blumenauer will also speak downtown during a Century Foundation conference on infrastructure improvement, along with Jason Miller, deputy director of the White House National Economic Council.
See more on the week ahead in transportation and infrastructure here.
TCF fellow Charles Morris explains that despite the strong base of free trade that the U.S. economy is built upon, it may now be decreasing in its effectiveness due to the shifts in Chinese industries and manufacturing.
Yet, over much of the past year, low-cost Chinese steel has flooded U.S. markets, which, DiMicco says, is clear evidence of illegal “dumping.” Beijing, of course, says it complies with all fair trade rules.
But China plays by different rules. Its powerful manufacturing enterprises are largely state-owned, and blessed with a host of subsidies, including Party-determined prices for financings, land purchases, taxes and fuel.
Read the full article from Reuters here.
Apparently certain very wealthy American citizens have decided to take up residence, that is, spend at least 283 days, in Puerto Rico where the US cannot impose federal income tax on Puerto Rican sources and Puerto Rico cannot impose on them local Puerto Rican taxes. TCF fellow Ed Kleinbard says that these loopholes make for some unfortunate capital gains evasion.
The law here is clear, and the only risks are political (that Congress or the Puerto Rican legislature amend their respective tax laws to close down this loophole). But the costs of rolling the dice on the politics are minimal for a superaffluent taxpayer with a big potential capital gains tax bill — sell the homes in Atherton and Telluride, and buy an ocean view estate on the island.
Read Kleinbard's article from The New York Times here.
While the Obama administration's recently submitted transportation bill should give transportation advocates hope, TCF policy associate Jacob Anbinder explains why the proposal still does not address the policy area's most pressing problem.READ MORE
In recent decades, and especially since 2000, the richest Americans have enjoyed soaring income and wealth while the rest of the population's living standards have stagnated. The Century Foundation was one of the first institutions to raise serious concerns about these trends and propose ideas for improving economic conditions for all Americans- not just the fortunate few.
Sign up for our mailing list and stay up to date on the latest happenings at The Century Foundation