Articles from Institute for Policy Studies

Here’s What We Could Have If We Slashed the Military Budget

The Pentagon is set to receive $717 billion in 2019 — more than half of the roughly trillion-dollar annual budget. That level of Pentagon funding is immense by any standard. Next year’s budget will be roughly twice the size of military appropriations in the mid-1990s, before George W. Bush and his twin wars in Iraq and Afghanistan.

Trump Tax Plan 2.0 Cements the Worst Economic Policy in a Generation

Hot on the heels of last year’s once-in-a-generation tax changes, House Republicans are pushing a new, extended plan to double down on their previous efforts, which primarily awarded tax giveaways to corporations and the wealthy.

The focus this time is on making permanent some individual tax provisions that were left temporary in the 2017 law. Like their predecessors from tax plan 1.0, these provisions disproportionately reward the richest 1 percent of Americans, and add hundreds of billions of dollars to the deficit while emptying public coffers.

The ‘Unintended Consequences’ of Letting the Rich Get Richer

What happens when a bold new idea for making America more equal hits our political center stage? Those comfortable with our unequal status quo — and those worried about discomforting those comfortable with our current inequality — invariably shout out two sage-sounding words.

“Unintended consequences!”

Making the proposed change, cheerleaders for our economic order go on to explain, will trigger a chain of events that will leave the intended beneficiaries of the bold new idea worse off than they had been.

There’s a New Crash Coming

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Donald Trump is the epitome of irrational exuberance.

Bank Workers Fight to Rein in Global Finance

It’s been ten years since the excesses of the financial sector caused a global meltdown so massive that some pundits predicted the end of our economy as we know it. Now, a decade on, we’ve seen some paltry moves to rein in the extravagance of Wall Street. But one often-forgotten group of people working in banking have the information — and the motivation — to tame the beasts of finance.

Republicans Scramble to Make Tax Cuts Permanent Ahead of Midterms

House Ways and Means chairman Kevin Brady on Monday unveiled three tax reform bills as part of a Republican-led effort to make permanent many of the tax cuts enshrined in the law that passed last year. The law had a number of tax savings for wealthy elites and businesses that were set to expire after 2025. Now the GOP is hoping to push them into permanence despite their unpopularity with the public.

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