Tag Archives: policy-center

TPC Report: Paul Ryan’s Tax Plan Gives 100% of Its Benefits to the Top 1%

Mother Jones

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File this one under “too good to check.” Max Ehrenfreund passes along the latest analysis of Paul Ryan’s tax proposal from the Tax Policy Center and notes that by 2025 it gets a wee bit lopsided:

This is like a parody of Republican tax proposals. In its first year, the top 1 percent start off getting a mere 76 percent of the benefit. But as Table 5 shows, within ten years they get nearly 100 percent of the benefit. Ryan and the congressional Republicans manage this by giving the poor and middle class nothing and actually taking money away from the upper middle class. The only people who benefit are the rich and the really rich.

As for the really, really rich, the top 0.1 percent get an average tax break of $1.4 million, while the rest of us get about $3 trillion in extra federal debt and no long-term change in economic growth. What a deal.

POSTSCRIPT: I should note that for some reason TPC’s numbers don’t add up to 100 percent. This might mean there’s an error in the table. But even if there is, it’s a small one.

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TPC Report: Paul Ryan’s Tax Plan Gives 100% of Its Benefits to the Top 1%

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Surprise! Donald Trump’s Tax Plan Helps Donald Trump

Mother Jones

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Back in September, Donald Trump put forth a tax plan that pledged to help middle-class Americans and take aim at the “hedge fund guys.” That four-page proposal was criticized for being vague on the details. It also raised eyebrows with its promise to be revenue-neutral.

On Tuesday, an independent think tank weighed in and called bullshit on Trump’s populist guise.

The analysis, released by the Tax Policy Center, found that the Republican frontrunner’s proposal would largely benefit only the wealthiest Americans by giving the top 0.1 percent an average of $1.3 million a year in tax cuts. Middle class Americans would see their taxes reduced by just $2,700 annually.

The plan would also wipe out revenue by a staggering $9.5 trillion over the next decade, according to the TPC,

“The revenue losses from this plan are really enormous,” Len Burman, director of the TPC, said. “Basically it would negate all the economic benefits if we were running deficits anywhere near as large as we’re projecting here.”

This latest analysis proves, once again, Trump’s tax plan and his insistence that it would cost billionaires like him a “fortune” is, as our Kevin Drum noted, the Lie of the Year.

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Surprise! Donald Trump’s Tax Plan Helps Donald Trump

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Let’s fight the 1 percent — of power plants

Let’s fight the 1 percent — of power plants

EPA

One of the dirtiest power plants in America.

It’s time to target the 1 percent.

But we’re not talking about bankers or CEOs this time. We’re talking about the nearly 1 percent of American power plants — 50 of them, all fueled by coal — that produce 30 percent of the U.S. power sector’s climate-changing pollution.

A new report by Environment America Research & Policy Center says America’s 6,000 power plants, which collectively produce 41 percent of the country’s carbon emissions, are the world’s single greatest contributor to climate change. To address that problem, the authors recommend targeting the dirtiest facilities:

Dirty power plants produce a disproportionate share of the nation’s global warming pollution – especially given the relatively small share of total electricity they produce. For example, despite producing 30 percent of all power-sector carbon dioxide emissions, the 50 dirtiest power plants only produced 16 percent of the nation’s electricity in 2011.

If the 50 most-polluting U.S. power plants were an independent nation, they would be the seventh-largest emitter of carbon dioxide in the world, behind Germany and ahead of South Korea. These power plants emitted carbon dioxide pollution equivalent to more than half the emissions of all passenger vehicles in the United States in 2010.

Environment America Research & Policy CenterCO2 emissions from America’s power plants compared with CO2 from entire countries, measured in millions of metric tons per year. (Click to embiggen.)

The 10 dirtiest plants alone produce 0.5 percent of the worldwide energy industry’s carbon dioxide emissions, the report says:

Environment America Research & Policy CenterAmerica’s dirtiest 10 power plants. Click to embiggen.

Still, power plant operators do not face any federal restrictions on their CO2 emissions — although those operating in California and New England participate in regional carbon-trading programs. The Obama administration is working on rules that would impose CO2 limits on power plants, but they’re still years off from implementation — and already under fierce attack from industry.

Environment America Research & Policy Center


Source
America’s Dirtiest Power Plants, Environment America Research & Policy Center

John Upton is a science fan and green news boffin who tweets, posts articles to Facebook, and blogs about ecology. He welcomes reader questions, tips, and incoherent rants: johnupton@gmail.com.

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Let’s fight the 1 percent — of power plants

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