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☆ The top 5% will benefit from Trump's tax plans while the rest of America pays more, a new analysis says
▼ + stars: | 2024-10-09 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

With the economy top of mind for many voters, tax policy will be significant in the election. Trump's proposals include eliminating taxes on tips and overtime, extending the 2017 tax cuts for individuals, implementing higher tariffs on imported goods, and reducing the corporate tax rate. Meanwhile, the Tax Policy Center has found that the policies would bring down post-tax incomes by $1,800 in 2025. Joe Hughes, a senior analyst on federal tax policy at ITEP, previously told BI that high-wage workers could take advantage of Trump's proposals to make more money. Ultimately, though, any tax proposals would need buy-in from the House and Senate.

Persons: Donald Trump, —, everybody's, ITEP, Ernie Tedeschi, Trump's, Matthew Gardner, Gardner, Trump, Casey B, Mulligan, Joe Hughes, Hughes, Brian Hughes Organizations: Service, Taxation, Yale Budget Lab, White House Council, Economic Advisers, IRS, American Progress, Trump, Policy Institute, Washington Post, Trump campaign's, Democratic, Senate Locations: ITEP

☆ How Deadly Were the Covid Lockdowns?
▼ + stars: | 2023-01-12 | by ( Rob Arnott | Casey B. Mulligan | ) www.wsj.com time to read: 1 min

During the first two years of the pandemic, “excess deaths”—the death toll above the historical trend—markedly exceeded the number of deaths attributed to Covid. In a paper we just published in Inquiry, based on data from the Centers for Disease Control and Prevention, we found that “non-Covid excess deaths” totaled nearly 100,000 a year in 2020 and 2021. Even these numbers likely overestimate deaths from Covid and underestimate those from other causes. Covid testing has become ubiquitous in hospitals, and the official count of “Covid deaths” includes people who tested positive but died of other causes. On the other side, some Covid deaths early in the pandemic weren’t diagnosed as such.

☆ The Inflation Reduction Act Comes for Medicare
▼ + stars: | 2022-11-23 | by ( Casey B. Mulligan | Tomas J. Philipson | ) www.wsj.com time to read: +1 min

President Biden has accused Republicans of scheming to cut Medicare. In fact it is his signature legislation, the Inflation Reduction Act, that will lead to benefit cuts and premium increases for seniors. In 2025, under the Inflation Reduction Act, both government subsidies and out-of-pocket payments by patients are scheduled to be cut sharply. But the statute inhibits this third revenue source, which is also subsidized, from increasing more than 6%. That’s hardly enough to cover inflation, let alone compensate for the other two revenue losses.

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