Register to Vote: Rock the Vote, powered by Credo Mobile

HOME

ABOUT US

OUR ISSUES

Information & Access

Nonprofit Advocacy

Regulatory Policy


PRESS ROOM

ACTION CENTER

PUBLICATIONS

THE WATCHER

OUR BLOGS


SIGN UP

Receive news, updates, and alerts!

DONATE

Help support our work


OTHER SITES

FedSpending.org

RTK NET

NPAction

Working Group on Community Right-to-Know

Citizens for Sensible Safeguards

Open the Government

OMB Watch Logo

Demanding a federal budget that is fair, responsible, and meets our nation's priorities

Home :  Federal Budget & Tax : 
Federal Budget & Tax:      News     Blog     Background    



Thursday, April 20, 2006

Wage Gap Between Immigrant and U.S.-Born Workers Has Grown

A new report, "Changing Patterns in the Relative Economic Performance of Immigrants to Great Britain and the United States, 1980-2000," finds that the gap in earnings between U.S. born and immigrant workers increased significantly between 1980 and 2000. The paper uses data from the 1980, 1990, and 2000 Censuses to look at changes in the pace of the economic assimilation of immigrants. The executive summary states that the evidence suggested "that immigrants lagged farther behind US-born workers in 2000, than they had in the 1990 and 1980."

The report found that in 2000, male immigrants earned 18.4 percent less per hour on average than U.S. born workers. For females, that figure was 10.7 percent less. This is a vast difference from 1980, when male and female immigrant workers earned an average of 9.3 and 3.4 percent less, respectively. As this Common Dreams article on the report points out, part of this growing gap is due to a decline in educational attainment among immigrants during the period. But really what it illustrates, overall, is the fact that wage growth has not kept pace with productivity over the last few decades. This is true of billions of wage earners, not just immigrants.



Posted by Becky Lewis, 10:49:14 AM



Wednesday, April 19, 2006

Surprise, Surprise: Bush Tax Cuts Mainly Benefit Wealthy

As we've said time and again, one of the main reasons why the Bush tax cuts are so egregious -- besides the fact that they are draining the Treasury of revenues and causing important federal programs to get squeezed -- is the that the beneficiaries of these tax cuts are overwhelmingly the very richest people in our society. As this well-written article puts it, "things will get even worse if the Bush administration gets its way. That’s because one key part of the Bush administration’s tax cuts--eliminating the estate tax--hasn’t gone into effect yet." This is an excellent point; estate tax repeal would only further slant tax cut benefits towards the wealthiest.

The article includes a number of other great points and facts on taxes; I've included a few of them below.


  • Those in the top 1 percent income bracket are expected to get an average tax cut of $39,000 in 2006--or 52 times more than households at the middle of the income ladder. Those with incomes over $1 million will receive an average tax cut of more than $111,000.
  • Because of lowered tax rates on investment income, taxpayers with annual incomes more than $10 million paid about the same share of their income in income taxes as those making $200,000 to $500,000.
  • The 181,000 Americans with annual incomes of $1 million or more--about one-tenth of 1 percent of all taxpayers--reaped 43 percent of all the savings on investment taxes in 2003, about $41,400 per person.
  • In contrast, the 71 percent of tax filers with incomes less than $50,000 saved $10 each from the capital gains and dividend tax cuts, adding only 2 percent to their $425 average tax reduction in 2003.


Posted by Becky Lewis, 12:40:52 PM



Wednesday, April 12, 2006

A Closer Look At Inequality in America

Former Clinton economic advisor and current Senior Fellow at the Center for American Progress Gene Sperling takes a closer look at economic inequality in America in his most recent column for Bloomberg News.

Sperling unpacks the recent statements by Secretary of Treasury John Snow that income inequality has actually shrunk under President Bush and explains why a closer look at the numbers shows it is difficult to back up such a claim.

Bloomberg News: A Disappointing Decade for Inequality



Posted by Adam Hughes, 04:17:22 PM




Latest Entries by Theme

All Themes

Appropriations & Spending

Federal Tax Policy

Income/Wealth Inequality

Budget Projections

Government Performance

Estate Tax

State Fiscal Policy

Watcher

Entitlements

Budget Process

Debt & Deficit

Oversight & Enforcement

Transparency

Privatization

Contact Us

Most Recent Entries for Federal Budget & Tax

Approps Update: Senate Back to Work

OMB Releases FY 2008 Earmarks Data

DPC Hearing on Iraq Contracting This Week

Monthly Budget Review: June, 2008

Congress to End White House Forest Conservation Program

Fiscal Policy Agenda Returns to Washington

Bush Signs War Supplemental

BudgetBlog on Hiatus for Holiday: Happy Fourth Everyone!

The Heat Must Be Getting to Them

GAO Report Finds Private Medicare Providers Prefer Profits Over Providing Better Service

Archived Entries for Income/Wealth Inequality

July

June

May

April

March

February

January

December, 2007

November, 2007

October, 2007

September, 2007

August, 2007

July, 2007

June, 2007

May, 2007

April, 2007

March, 2007

February, 2007

January, 2007

December, 2006

November, 2006

October, 2006

September, 2006

August, 2006

July, 2006

June, 2006

May, 2006

April, 2006

March, 2006

February, 2006

January, 2006

December, 2005

November, 2005

October, 2005

September, 2005

August, 2005

July, 2005

June, 2005

May, 2005

April, 2005

March, 2005

February, 2005

January, 2005

December, 2004

October, 2004

September, 2004

August, 2004

July, 2004

June, 2004

May, 2004

March, 2004

December, 2003

October, 2003

September, 2003

July, 2003