KEY POINTS: Total tax receipts in the first fiscal quarter of 2020 increased by $35 billion compared with the same period last year. This represents a 5 percent increase in tax receipts, raising the overall level to $806 billion. This is partially driven by an increase in corporate income taxes, which increased by $11 billion […]Read More
The Data that Drives Policy Lives Here.
Key Points: Repealing the 2017 tax cuts will raise taxes on individual families. The Right Facts has calculated the additional amount of income facing taxation (figure above) and the additional tax burden (tables below). Absent the 2017 tax cuts, single filers/heads of household with one dependent will be taxed on an additional $7,523 in income. […]Read More
While many claim that the drop in workforce participation in 2012 was part of a long-term trend, the turnaround following the 2017 tax cuts suggests otherwise. Not only are more people working across age groups, but the improvement is actually quite enormous. Analysis: The labor force participation rate dropped in the 21 months after the […]Read More
From December 2016 through September 2019, the share of the population in the labor force has grown across all demographic groups as people come off the sidelines. This is especially true for black men and Hispanic women, through people from every demographic group have increased their participation. Analysis: The labor force participation rate for black […]Read More
There has been particularly significant job growth for Hispanic men and women since December 2016. While America’s Hispanic population has seen the biggest gains, all demographic groups have seen job growth. Analysis: For both men and women, percent increases in jobs were higher for black and Hispanic members of the population than for white members […]Read More
The amount of money generated by the economy in 2018 is being distributed more among low and middle-income Americans. $34.71 billion has moved from the top quintile to the bottom two quintiles, measured using money income. Since December 2016, $69.4 billion of income has shifted from the top income quintile to the bottom, when adjusted […]Read More
The growing economic pie accrued more to low and moderate income Americans in 2018 compared to 2017. In fact, the lowest quintile of earners saw the largest income increases as a share of total income. The largest income increases as a share of total income were experienced among low and moderate income households even when […]Read More