skip to main content
skip to newscasts

Friday, April 26, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Louisiana teachers' union concerned about educators' future; Supreme Court hears arguments in Trump immunity case; court issues restraining order against fracking waste-storage facility; landmark NE agreement takes a proactive approach to CO2 pipeline risks.

view newscast page
play newscast audioPlay

Speaker Johnson accuses demonstrating students of getting support from Hamas. TikTok says it'll challenge the ban. And the Supreme Court dives into the gray area between abortion and pregnancy healthcare, and into former President Trump's broad immunity claims.

view newscast page
play newscast audioPlay

The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

KY Group: Bush Tax Cuts Extension is Deficit-Doubling Proposition

play audio
Play

Friday, June 10, 2011   

BEREA, Ky. - This week marks the 10-year anniversary of the Bush tax cuts, and a Kentucky-based economic policy think tank says the numbers just don't add up for middle- and low-income Americans if those cuts are extended beyond next year's expiration date.

Jason Bailey, director of the Kentucky Center for Economic Policy, says an extension would double the size of the federal deficit over the next 10 years and fatten the wallets of the highest-earning taxpayers.

"Here in Kentucky, the top 1 percent of the most wealthiest Kentuckians would receive a tax cut of about $43,000. Nearly half of the tax cuts would go to the wealthiest 5 percent."

The poorest 20 percent of Kentuckians would earn about a $50 tax cut with the extension, Bailey says. The Bush-era tax cuts do little to nothing in helping the economy rebound, he says, because the wealthy, who benefit the most, have little need to spend their tax cut, unlike the average person. There's another catch, he adds.

"What we would see would be huge cuts to a range of programs that serve middle-income and low-income Americans. So Medicare and Medicaid, those sorts of programs, programs that provide basic health security, food security like food stamps, are on the chopping block."

The latest jobless numbers showing the nation's unemployment rate at 9.1 percent point to the need for policymakers to shift focus, Bailey says.

"It's time for Congress to turn its attention to the problem of job creation - and then the focus should be on helping the increased demand for goods for services on the part of consumers."

Congressional Republicans claim the benefit of the tax cuts will trickle down to working Americans.

More information is online at kypolicy.org.


get more stories like this via email

more stories
The United Nations experts also expressed concern over a Chemours application to expand PFAS production in North Carolina. (Adobe Stock)

play sound

United Nations experts are raising concerns about chemical giants DuPont and Chemours, saying they've violated human rights in North Carolina…


Environment

play sound

Conservation groups say the Hawaiian Islands are on the leading edge of the fight to preserve endangered birds, since climate change and habitat loss …

Environment

play sound

CO2 pipelines are on the increase in the United States, and like all pipelines, they come with risks. Preparing for those risks is a major focus of …


It's estimated that invasive pests destroy up to 40% of food crops and cause $220 billion in trade losses worldwide. (Lee/Adobe Stock)

Environment

play sound

April has been "Invasive Plant Pest and Disease Awareness Month," but the pests don't know that. The U.S. Department of Agriculture says it's the …

Social Issues

play sound

Leaders of a teachers' union in Louisiana are voicing concerns about a package of bills they say would have the effect of dissolving labor unions in t…

David Coon designs and evaluates interventions for families and caregivers of adults with chronic illnesses, including dementia, cancer and depression. (Arizona State University)

Health and Wellness

play sound

The 2024 Arizona Alzheimer's Consortium Public Conference kicks off Saturday, where industry experts and researchers will share the latest scientific …

Environment

play sound

Environmental groups say more should be done to protect people's health from what they call toxic, radioactive sludge. A court granted a temporary …

Social Issues

play sound

Orange County's Supreme Court reversed a decision letting the city of Newburgh implement state tenant protections. The city declared a housing …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021