Economic Policy Archives - US RENEW DEMOCRACY NEWS

Labor, Inflation, and Supply Chain Problems Suggest a Slowing Economy

by Rosalind Gottfried | Nov 16, 2021 | Economic Policy

Brief #129 – Economic Policy
By Rosalind Gottfried

The economic recovery has slowed in the third quarter and the unprecedented circumstances make it unclear what the indicators ultimately will mean for future growth. It is estimated that worker shortages are costing the economy sixty billion dollars in sales every month. Increased wages are failing to attract a crucial influx in returning workers. There are millions of pre-pandemic workers who have not returned to work. Workers are reluctant to return to work likely due to health concerns; childcare issues; and reconsideration of life priorities.

Recent Global Agreement Sets New Rules For Corporate Tax Revenue

by Jared Sullivan | Nov 13, 2021 | Economic Policy

Brief #128 – Economic Policy
By Jared Sullivan

A new global agreement, endorsed by the Biden administration, aims to improve the international tax system by redistributing revenue that countries earn from taxing multinational corporations. The proposal was finalized and agreed upon on October 8th by the Organization for Economic Cooperation and Development (OECD). It is scheduled to go into effect in 2023.

Optimistic Economic Outlet Coupled with Caution

by Rosalind Gottfried | Nov 9, 2021 | Economic Policy

Brief #127 – Economic Policy
By Rosalind Gottfried

There are positive indications of economic growth in the fourth quarter of the year and, while economists are optimistic, citizens are less so. The economy grew by .5% in the third quarter, and the fourth quarter is predicted to be strong. The October jobs report was encouraging. New jobs reached 531,000 and after adjustments in the August and September figures, the average for the three months was 442,000. October unemployment was down to 4.6% from 4.8%.

Supply Chain and Customer Service Shortages: The Real Drivers of Inflation

by Rosalind Gottfried | Oct 15, 2021 | Economic Policy

Brief #126 – Economic Policy
By Rosalind Gottfried

There are some indications that the economy is strong. The US economy is expected to grow at 6% this year and fall to 3.9% for 2022, a greater rate than for most years since the turn of the century. Economists are predicting a steady expansion of the economy for the second half of 2021. The unemployment rate is under 5%, marking only 17 months to recover that rate since the pandemic started. Unemployment is currently at 4.8% which is down from 5.2% in August.

A Primer on the Debt Ceiling Crisis

by Rosalind Gottfried | Sep 28, 2021 | Economic Policy

Brief #125 – A Primer on the Debt Ceiling Crisis
By Rosalind Gottfried

The deadline for Congress to pass a Bill to fund the government past the current fiscal year deadline of September 30th is fast approaching. The Republicans blocked a bill which would extend government spending and suspend the debt ceiling. The House passed the bill providing for government spending through December and suspending the debt ceiling through December 2022, after the mid-term elections.

Reducing Persistent Child Poverty

by Rosalind Gottfried | Sep 21, 2021 | Economic Policy

Brief #124 – Economic Policy
By Rosalind Gottfried

Child poverty persists in the US at a much greater rate than in other comparable countries. Among the countries in The Organization for Economic Co-operation and Development (OECD), the US is on a par with Mexico, Chile, Turkey, and Spain on the low end of expenditures to combat child poerty. In contrast, Finland, Denmark, Poland and Spain evidence the highest spending. In spite of having the highest GDP of any country, and one of the highest per capita incomes, the US spends 1% of its GDP on family benefits in contrast to the 3.5% spent by France. As a result, 14.4% of the country’s children live in poverty. This translates into 1 in 4 Black children; 1 in 5 Hispanic children; and one in 12 non-Hispanic white children.

Taxes and Tribulations – Brief on Biden Tax Plans

by Tyler-Joseph Ballard | Sep 17, 2021 | Economic Policy

Brief #123 – Economic Policy
By Tyler-Joseph Ballard

A $3T USD budget shortfall in 2020 and the current deficit for 2021 of another $3T USD leaves the current administration in a considerable bind. The Biden administration’s proposed tax plans — The American Jobs Plan and the American Families Plan — impose considerable tax hikes for corporations and top earners while providing increased child and dependent tax credits.

Infrastructure Plan Update: Parties Haggle Over Content and Funding

by Rosalind Gottfried | Jun 25, 2021 | Economic Policy

Brief # 122 – Economic Policy
By Rosalind Gottfried

Biden and the Democrats are currently haggling over a 1.2 trillion dollar plan to address infrastructural change. This figure is down from the original 4 trillion sought by Biden. For negotiations, the White House had trimmed the bill to 1.7 trillion and it now stands at 1.2 trillion.

Should We Be Concerned About Inflation?

by Rosalind Gottfried | Jun 23, 2021 | Economic Policy

Brief # 117 – Economic Policy
By Rosalind Gottfried

Inflation occurs when the value of money decreases, largely due to increases in prices which are not matched by rises in income. With the vaccine rollout, people are emerging from their pandemic cocoons and demands for goods and services are surging. High demand, coupled with reduced supplies, is causing prices to rise.

The Unemployment Disconnect in California

by Patrick Dwire | Jun 16, 2021 | Economic Policy

Brief # 120 – Economic Policy
By Patrick Dwire

As restaurants, hotels and entertainment venues begin to open up in California as the state officially re-opens with virtually no Covid restrictions, many of these employers are having trouble finding workers. Low-income workers are getting blamed for not jumping at these job openings, which seems to lead many Republican policy makers immediately to the conclusion that unemployment benefits must be too generous.

Biden Seeks Mandatory Global Taxation Level For Multinationals

by Rosalind Gottfried | Jun 12, 2021 | Economic Policy

Brief # 119 – Economic Policy
By Rosalind Gottfried

Under current international tax rules, multinationals generally pay corporate income tax where production occurs rather than where consumers or, specifically for the digital sector, users are located. However, some argue that through the digital economy, businesses (implicitly) derive income from users abroad but, without a physical presence, are not subject to corporate income tax in that foreign country.

The American Jobs Plan: A Spotlight on Airport Infrastructure

by Lily Cook | Jun 8, 2021 | Economic Policy

Brief # 119 – Economics Policy
By Lily Cook

After an initial review from the Oversight Board, Facebook finally announced the company’s decision on the fate of former president Donald Trump’s account. In a blog post, the Facebook Vice President of Global Affairs Nick Clegg responded to the Oversight Board’s charge that the company’s initial decision of an indefinite punishment was ‘not appropriate’ by announcing that Trump’s ban would be in effect for 2 years starting from January 7th.

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