'A Budget Focus on Inequality'

[Number23]

'A Budget Focus on Inequality'
http://economix.blogs.nytimes.com/2013/04/10/a-budget-focus-on-inequality/

"The Obama budget proposal released Wednesday, like other White House budgets before it, also emphasizes the problem of inequality and the failure of the American economy to promote a thriving middle class.

The budget includes several proposals to tackle inequality and wage stagnation."

"...So far, the Obama administration has tackled the issue of inequality in two major ways. It has raised taxes on the wealthy, and it has expanded programs to aid lower-income Americans."

Folks, the body of evidence that the "hair on fire brigade" may not have all of the facts on this is growing. See my previous post from a liberal economist who comes to very similar conclusions as this NY Times economist, http://www.democraticunderground.com/11028797

as well as Prosense's excellent OP in GD http://www.democraticunderground.com/10022670043

[Cha]

1. Thanks for bringing this to light,

23. And, the Budget Proposals that ProSense Revealed.. all worthy information contained therein.

[Number23]

2. Thanks, Cha. I was starting to wonder if this OP was invisible

[sheshe2]

3. Not invisible, 23...

Drowned out by the noise.

Kick and Rec!

[Number23]

4. Yeah, but most of the "noise" here seems self-inflicted

[grantcart]

5. among the elements you will not see elsewhere at DU:

Increasing the federal minimum wage to $9 an hour from its current rate of $7.25, and indexing it to inflation. The White House asserts that this would lift the wages of about 15 million low-wage workers.
Creating a “Preschool for All” initiative to provide early childhood education to 4-year-olds from low- and middle-income families. The big idea is that this might improve economic mobility in the future.
Increased taxes on wealthy Americans, including taxing carried interest as ordinary income. Hedge-fund managers and the like use the carried interest loophole to pay preferential rates on their earnings.
Increased support for manufacturing, which the White House argues might be an important source of middle-class jobs.
Making permanent the expansion of the earned income tax credit and child credit, which were due to expire in 2017. The proposal also makes permanent the American Opportunity Tax Credit, which helps families with students pay for college.

thanks for the facts.