New research by Gerald Auten of the US Treasury Department and David Splinter of the congressional Joint Committee on Taxation finds that the after-tax income share of the top 1% has barely changed since 1962. More.
Is it true that 1 in 8 American households are so poor that someone must skip a meal each month to get by? No, it is not—the real number is more like 1 in 50. More.
Biden: The expanded child tax credit “cut child poverty in half in 2021.” Proper modeling: expanded CTC alone would have reduced the child poverty rate to 8.3 percent in 2021. More.
The left-leaning Center for Budget Policies says we need housing subsidies because of market failure in the housing market. In fact, public housing subsidies are anti-marriage: Per HUD data, only 3% of subsidized housing serves “two adults with children.” More.
We may be spending more on housing subsidies for the rich than for the poor. I know the Tax Cuts and Jobs Act reduced the caps on deductible mortgage interest and property tax and made it preferable for most filers to use the standard deduction, but the TCJA is set to expire in two years. In the meantime, “progressive” California never reduced its mortgage and property tax caps, maintaining the pre-TCJA limits.