Dec 21, 2011 | Testimony
As my testimony will describe, the recent improvement in payrolls and the unemployment rate are welcome news, but the plight of the long-term unemployed in the United States is considerable. The policies that have been executed since mid-2008 to foster an economic recovery have failed to deliver measurable results, and those most hurt by the current downturn are often the long-term unemployed. In fact, some policy actions taken by Congress and the Administration have likely exacerbated the duration of unemployment for some workers, the consequences of which are significant fiscal, economic, and social costs.
Oct 1, 2011 | Books
Using the fundamental concept of “excess burden” as their guide, in “The Real Tax Burden: More Than Dollars and Cents,” Alex Brill and Alan Viard illustrate how taxes work and their affect on such things as wages, savings, and economic growth. The authors describe past and present forms of taxation, discuss our current income and corporate tax policy, and critique various options for fundamental tax reform. “The Real Tax Burden” is a primer in the Values & Capitalism series intended for college students.
Jun 23, 2011 | Testimony
As the Subcommittee is well aware, the 2011 Social Security Trustees Report was released last month, and it projects that the combined Social Security trust funds will begin to be drawn down in 2023 and will be exhausted in 2036, one year earlier than projected in the 2010 Trustees Report.
Jun 22, 2011 | Testimony
The significance of manufacturing to the U.S. economy is undeniable, and the role and dynamics of this sector are important to study. It is critical to recognize, however, that manufacturing is but one segment of the U.S. economy, and the share of the resources dedicated to this sector should be determined by market forces, not government policy.
Jun 14, 2011 | Testimony
Sound retirement security policy for future retirees requires planning. Ensuring the goal of adequate asset accumulation at retirement necessitates sufficient savings throughout an individual’s career. To that end, workers need to be engaged; employers need to be responsible; and policymakers must ensure that pension law, tax law, and the Social Security system operate in a manner that promotes opportunities for private saving, appropriate retirement asset management, and sustainability and predictability. Together, these programs should complement the goal to strengthen the financial security of our workforce.
