Employment
FactCheck: Trump Likely Benefits from Tax Bills
Estate tax. The clearest benefit for the Trump family would be the tax bills' changes to the estate tax, which falls on estates worth more than $5.49 million (nearly $11 million for a couple). The House bill would repeal the estate tax entirely in 2024. As we’ve written before, that would save Trump’s estate $564 million, according to a Bloomberg estimate, based on a net worth of $3 billion. Trump has said his net worth is $10 billion, and if so, the savings to his estate from a repeal of the tax would be $1.9 billion. more »
How Far Have We've Come? Janet Yellen, Her Resignation and the Current Economic Outlook
Janet Yellen before the Joint Economic Committee, US Congress "With the job gains this year, 17 million more Americans are employed now than eight years ago. Meanwhile, the unemployment rate, which stood at 4.1 percent in October, has fallen 0.6 percentage point since the turn of the year and is nearly 6 percentage points below its peak in 2010. In addition, the labor force participation rate has changed little, on net, in recent years, which is another indication of improving conditions in the labor market, given the downward pressure on the participation rate associated with an aging population." more »
How To File a Complaint of Sexual Harassment: Correcting the Record With the OOC
In recent weeks there have been many media reports about the process for employees in the legislative branch to file claims with the Congressional Office of Compliance (OOC) under the Congressional Accountability Act of 1995 (CAA). Several of those reports contain incorrect information about that process. The questions and answers [in this post] address the most common misconceptions about the OOC; more detailed information is available [at the website]. more »
In States, the Estate Tax Nears Extinction: Countering Arguments That Eliminating the Estate Tax Was a Gift to the Wealthy
The New Jersey tax compromise included a 23-cents-per-gallon hike in the gas tax, bringing it to 37.5 cents a gallon. The legislation also cut $1.4 billion in other taxes, including income taxes on elderly residents who can now exempt the first $100,000 of retirement income (a couple) from state income tax. Supporters said the tax break for middle-income seniors was a way to counter arguments that eliminating the estate tax was a gift to the wealthy. New Jersey took in nearly $320 million in estate taxes in 2014. The increase in the gas tax is expected to raise more than $1 billion a year. more »