Rich Prisinzano
@richpriz
Economist, Musician, JMU & Texas fan. Working at Yale University
Fully exempting home sales from tax would represent yet another inframarginal transfer to older, richer Americans. Something close to 90% of homeowners are already exempt. The only people paying tax are worth around $6M on average. Some new @The_Budget_Lab calculations below:
Unlike the Consumer Price Index (CPI), the Producer Price Index (PPI) doesn't include imports. Tariffs only indirectly affect PPI through later stages of the production process.
If you're questioning the integrity of BLS statistics "because ADP" I cannot help you
It’s bad when conservatives question the integrity of BLS statistics when a Democrat is president. It’s just as bad when progressives question the integrity of BLS statistics when a Republican is president.
The TCJA, whatever you think of it, was a genuinely reform-minded bill. It improved horizontal equity—the idea that tax rates should depend only how well-off you are, not how you make your money or what you spend it on. But this new bill would reverse much of that progress.
Olivia Rodrigo is warming our Gen-X hearts, bringing Robert Smith out at Glastonbury. youtu.be/0y6nMP_3hS0?si…