Homecare Worker Rule Here to Stay
Last week, Chief Justice John Roberts denied a request from three industry groups seeking to delay a new rule which grants basic minimum wage and overtime pay protections to...
by Betsy Wood
What do you need to know about the 2016 budget plan President Obama released this week? Mostly that it benefits ordinary Americans and pays for it by taxing the rich.
It’s a long wish list (150-pages) but here are a few highlights:
If working families are the big winners here, who are the losers? The rich. Big banks. Corporations (especially when they hoard profits overseas).
Here are a few ways the rich would pay for this budget:
Obama’s plan is a populist political agenda very much aligned with his recent State of the Union speech. It’s ambitious and bold and will leave many Republicans scrambling to explain why they don’t support it.
The plan is more than just a symbolic wish list. It’s a way to define and shape the debate. Aiming so clearly to lift up working families, reduce income inequality, and pay for it by taxing the rich, this agenda comes at a time when most Americans think a little wealth redistribution sounds great. Of course, Republicans have already come out strongly against it. But the Obama administration just may be betting correctly that the people will be on the President’s side.
Dr. Marjorie E. Wood is managing editor of Inequality.org and a senior staff member of the Global Economy Project at the Institute for Policy Studies.