National Economic Advisor to Clinton & Obama. Author, Economic Dignity. Founder, Center for Universal Education. Dad, husband and Ann Arbor boy.
Oct 17, 2021 • 6 tweets • 2 min read
Appreciate @NYT support for Child Tax Credit but idea execution hasn't started strong is just wrong:
Just 4 months after passage:
- 1st ever monthly tax cut reaching 60 million kids
- Direct Deposit on 15th each month for 90%
- 26-27M low-income kids 1rst time get full CTC 1/
Deeply committed to get CTC for millions not signed-up for EIPs or EITC. It’s why
- Automatically enrolled 729K kids signed up for EIPs.
- 1st non-filer CTC portal & Mobile friendly/Spanish version w/@codeforAmerica
- Proposed $1 billion for cross-enrollment, VITA, navigators 2/
Jan 1, 2021 • 5 tweets • 2 min read
THREAD ON BOB GREENSTEIN: 1/Yesterday was @GreensteinCBPP last day heading @CenterOnBudget after 40 years. There may not be anyone in Washington who has done more, year-by-year, over these decades to champion Medicaid, SNAP, EITC and to fight for those battling poverty.
2/ The weapons of influence deployed by Bob Greenstein and Center for Budget and Policy Priorities are not political power or campaign contributions but rigorous data, world class policy analysis and amazing perseverance on behalf of the lowest-income members of our nation
Jun 29, 2020 • 6 tweets • 1 min read
THREAD: Any GOP idea that if the June job report (out Thursday, July 2) brings back another 2-3 million lost jobs we are out of the woods and don’t need another major fiscal package for state/local relief, unemployment is just absurd. Let me count the ways.
2/ First, economists like Moody's Mark Zandi – see the “corrected” unemployment rate now (including classification errors & labor disruption)as 19.2%. Its 16.3% just w/ must classification error. Anyway you cut it; unemployment will be at 80 year highs after the June report.
Mar 10, 2020 • 4 tweets • 2 min read
As a negotiator on Obama/Biden payroll tax cut, I want to second @jasonfurman@paulkrugman The 2011-2012 payroll tax cut was positive because this $240 billion in additional stimulus was best we could get w/GOP House resistance - NOT because it was the best or most fair design.
A 2% payroll tax cut goes to all workers, but gives $2000 to a family making $100K, but only $600 to family at $30K. Best to give more to hard pressed families. At a minimum, a flat amount as its still progressive as those w/ lower-income gets highest boost as % of income.
Jul 28, 2019 • 9 tweets • 2 min read
1/ WEALTH TAX THREAD:
It is no secret that I am a supporter of the wealth tax. But I also admire many proposals on estate tax & capital gains put forth by other Democratic candidates. All reduce inequality and increase progressivity of tax code - and deserve support.
2/ I disagree with those - including friends I respect -whose first approach to this new wealth tax is to assume that we are helpless to avoid major tax evasion as we have seen with the estate tax. Tax evasion is a solvable policy failure not an unsolvable act of God.
