The scenario of limited access and unaffordability repeats millions of times over throughout the United States, costing working parents opportunities for higher wages and promotions as they grapple with child care, and costing our economy dearly in the process.
"You can’t say something happened in the labor market to cause that big surge in inequality," Fatih Guvenen explained. "Remember," he said, "this is a measure of pay when workers were just starting out. Something in the system is very different before any of them look for their first job."
For decades, the enormous costs of providing public pension benefits to retiring baby boomers have been discernible but too-often deferred – in the United States and across the world. Yet other developed nations, from Canada to Sweden and the Netherlands to New Zealand, offer lessons worth following.
Wealth taxes could even increase the nation’s productivity. Many wealthy people don’t invest their fortunes particularly efficiently earning mediocre returns on their assets. Economist Fatih Guvenen and co-authors have suggested that wealth taxation could help to liberate this unproductive capital for more productive uses.
Big retailers, such as Minnesota-based Target Corp. and Best Buy, would be “hurt badly” by expanding the president’s tariff and trade deal powers, University of Minnesota trade specialist Tim Kehoe predicted. Both companies rely heavily on foreign supply chains, and uncertainty about costs will “kill their planning process.”
To date prices of energy have not reflected the risk of future climate damages. This is a stupid mistake and has resulted in too much climate risk. Not pricing climate risk is a bug in the tax code. It can be easily and quickly fixed.