Daily Clips: October 27th, 2016
Gary Johnson cannot defend his tax policy: Watch the video.
Who wins in the gig economy and who loses: Nothing groundbreaking here—especially if you’ve listened to our podcast episode on the gig economy. Nonetheless, it’s a solid overview:
Similarly, the economic plight of an on-demand worker for companies like Task Rabbit or Postmates is not materially different from that of a low-wage hourly worker in a fast-food restaurant or retail store. Both workers have low wages, no benefits, and limited rights and protections. The difference is that workers who wouldn’t dream of applying for a job in a fast-food restaurant are willing to bid for work on Task Rabbit or Postmates partly because they can do so when and to the extent that they choose.
The progressive tax reform you’ve never heard of:
Unlike most trading partners, the U.S. system purports to tax the worldwide income of multinational companies at the statutory rate of 35 percent, granting a tax credit for taxes paid to other countries. Yet, because U.S. taxation is not triggered unless income is repatriated, multinationals can avoid residual tax by indefinitely holding income abroad. … As a result, the U.S. “worldwide” system of taxation is substantially more generous to foreign income than many alternative systems of taxation. – Professor Clausing of Reed College
Cruz says GOP may block SCOTUS nominees indefinitely: Constitutional conservatives at work.
Tweet of the day:
Still tremendous disparity in wage growth since 1979 https://t.co/BDkSwQBIIC @LarryMishel @economicpolicy pic.twitter.com/fWpGdoO42l
— Teresa Kroeger (@teresakroeger) October 27, 2016
