Tax Policy

The Relationship Among Homeownership, the Federal Budget, and the Racial Wealth Gap

April 12, 2012
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The Asset Building Program’s analysis of the President’s FY 2013 budget reveals two key trends about the accessibility of homeownership and its relationship to overall wealth over the past few years. First, the benefits of the2013 federal budget’s investment in homeownership, which are delivered primarily through tax deductions, accrue chiefly to those who already have high incomes and substantial assets. Second, the housing crisis disproportionately affected black and Hispanic families, significantly widening the racial wealth gap and creating further barriers to savings and economic mobility.

Introducing The Assets Report 2012 and Infographic!

April 10, 2012
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Every year, the Asset Building Program analyzes the President's budget request to see how much goes to support asset building policies. More importantly, we keep tabs on how this money is spent because this is the key to understanding who the spending is benefiting.

Death to the McMansion

  • By
  • Patrick C. Doherty,
  • New America Foundation
March 20, 2012 |

Recently, Japan and Korea have begun to express deep concerns about the “ability of the United States to address profound problems in its political and economic system.”

Fix the Inequality Gap: Bloomberg Businessweek Opening Remarks

  • By
  • Charles Kenny,
  • New America Foundation
March 8, 2012 |

On Feb. 29 the World Bank announced that the proportion of the planet’s population living in absolute poverty -- on less than $1.25 a day -- had halved from 1990 to 2010. That rate of poverty reduction is unprecedented, driven by rapid rates of economic growth in poor countries from China to Ghana.

In Second Term, What Will Obama Do About Bush Tax Cuts?

  • By
  • Noam Scheiber,
  • New America Foundation
March 2, 2012 |

Should Barack Obama win reelection this fall, he’ll almost immediately face one of the biggest issues of his second term: the looming expiration of the Bush tax cuts. George W. Bush originally passed the tax breaks in two quick bursts—slashing income taxes in 2001, and lowering taxes on investment income in 2003. Then, just before these cuts were set to expire on Jan. 1, 2011, Obama struck a deal with congressional Republicans to extend them for two more years.

Santorum Raising the Wrong Concerns about College

March 5, 2012
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Recent comments by presidential candidate Rick Santorum have invited skepticism on the importance of a college education. And, there are legitimate reasons to question the value of a college degree, to be sure. After all, the cost of college is going up and the ability of most families to pay those costs is shrinking in comparison.

Debate Club: Should Mitt Romney Pay More in Taxes?

  • By
  • Vishnu Sridharan,
  • New America Foundation
February 1, 2012 |

Yes. Making Mitt Romney pay more in capital gains taxes would both help slow the alarming growth of inequality in the U.S. and, if offset by a decrease in the corporate tax rate, help keep capital and investment within our borders.

The Politics of Economic Opportunity: Will Growing Poverty Affect Election 2012?

January 30, 2012
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Engagement with elected leaders by their constituents is a powerful accountability mechanism, and elections are a decisive expression of that function. In a year where poverty and inequality are at historic levels and the prospects for low-income families to improve their circumstances increasingly uncertain, how will these conditions influence both the rhetoric and policy proposals of those seeking elected office and the choices of voters?

Asset Building News Week, 4th Edition

January 27, 2012
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The Asset Building News Week is a weekly Friday feature on the The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include alternatives to mainstream banking, EITC awareness, financial literacy, income and wealth inequality, homeownership, bankruptcy, and weakened social protection.

EITC Awareness Day 2012

January 27, 2012

Editor's note: These remarks were delivered at the January 26, 2012 policy briefing, "Promoting the Security of America's Families: A Review of the EITC's Value and Discussion of 2012 Policy Implications" hosted by the National Community Tax Coalition, the New America Foundation, and other partners to commemorate EITC Awareness Day. David Rothstein is a Research Fellow with the Asset Building Program and Project Director with Policy Matters Ohio.

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