A short-sighted, harmful debt-deal was signed into law. The economy continues to struggle with 14 million Americans out of work and Wall Street continues to shirk responsibility for the economic crisis.
But it’s not all bad news. Check out the latest issue brief on revenues from the Economic Policy Institute. In the brief, the authors argue that deficit reduction should rely on both spending cuts ad revenue increases. The authors outline 10 facts which support increasing revenues from the highest-income households, including:
* Raising taxes on the highest-income households reduces the deficit without having much impact on job growth or economic recovery.
* Reasonable proposals to raised taxes on the highest-income households can generate significant amounts of revenue.
* The top one percent of households benefited disproportionately from the Bush-era tax cuts.
To read the full brief, go to: www.epi.org .