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    The Typical Worker Earns More Today Than in 1989

    Do American workers have lower living standards today than in 1989? To anyone with a camera GPS library stereo video recorder TV smartphone in his or her pocket, it doesn’t look like it. But the Census Bureau recently released a report finding real median household incomes lower today than 24 … More

    Are Americans Better Off Today Than They Were Four Decades Ago?

    Many pundits and politicians argue that middle-class incomes have stagnated over the past generation. But more accurate data show that the typical household’s income has risen by at least one-fifth in recent decades. Former Clinton Labor Secretary Robert Reich expressed this view when he argued that we have gone through … More

    A Constructive First Step to Reform Social Security

    Dave Camp (R–MI), chairman of the House Ways and Means Committee, has announced a series of hearings on bipartisan entitlement reform proposals, the first of which is using the chained Consumer Price Index (CPI) for Social Security. In advance of these hearings, Camp has issued a request for public input. … More

    A Step in the Right Direction: Obama’s Chained CPI Proposal

    Outside the President’s general, grow-the-government, increase-the-debt, tax-the-rich budget themes lies a commonsense proposal to use a more accurate measure of inflation when calculating government benefit growth rates and changes in income tax brackets. The purpose of inflation-based adjustments is to account for changes in prices over time. But current inflation … More

    Damaging Policies Add Up to $1 Trillion Tax Increase in Obama Budget (UPDATED)

    UPDATE: The official total tax increase in President Obama’s budget is now available in the Treasury Department’s “Green Book.” Treasury scores the total net tax increase from all President Obama’s tax polices at more than $1.1 trillion over 10 years. There was little doubt that President Obama would propose a … More

    The Obama Budget: Heritage Experts' Analysis

    Minimum Wage President Obama’s budget proposes raising the minimum wage to $9 an hour. This would hurt the very workers the President wants to help. When the price of something rises, people—both consumers and employers—purchase less of it. Americans responded to the higher cost of gas by driving less. Businesses … More

    Budgets in Comparison: Will President Obama’s Budget Save the American Dream?

    When the President’s budget comes out Wednesday, it will complete the last piece of the budget puzzle, as the House and Senate have each duly passed a budget according to law. Never mind that the President’s budget is supposed to lead Washington budget discussions, rather than follow. The key question … More

    Three Reasons for Social Security to Use Chained CPI

    During last week’s vote-a-rama in the Senate, Senator Bernie Sanders (I–VT) intended to put Senators from both parties on the record for opposing the adoption of a more accurate and less inflationary measure of calculating cost of living adjustments (COLA) in Social Security: the chained Consumer Price Index (CPI). Chained … More

    Social Security's COLA Needs to Be More Accurate

    Any budget agreement should include an improvement of the accuracy of Social Security’s annual cost-of-living allowance (COLA) payments. Press reports say this is now on the table. COLAs are designed to protect retirees against inflation eroding the value of their benefits, but the index used to calculate those payments is … More