The American Prospect: The 2018 Economy in 12 Graphs

Thanks to some bold number crunching by the nerds at the Institute for Taxation and Economic Policy, the figure compares a regressive, supply-side tax cut, like the one we got last year, to a highly progressive expansion of the Earned Income Tax Credit, the GAIN Act, proposed by Ohio Senator Sherrod Brown and California Representative Ro Khanna. One—the 2017 Tax Cuts and Jobs Act (better known as the Republican tax cut) raises after-tax inequality; the other (Brown-Khanna) lowers it. Let this serve as a template for the new House majority as they think about progressive tax reform. Read more

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