Brendan Duke @Brendan_Duke
Econ nerd @amprog | Former Biden-Harris National Economic Council tax/budget/supply chains |@SenatorBennet/@JECDems/@CenterOnBudget alum | Tweets are 100% mine Washington, DC Joined October 2009-
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If you reluctantly supported Biden in 2020 because you thought there wouldn't ever be any uncomfortable protests in the entire United States for four years, then that's on you.
It's all such BS. Biden never promised anyone that there wouldn't be any college protests during his Presidency. He's not a dictator. He tried to get things back to normal by not being a f*cking maniac every day, getting people vaccines, and lessening financial hardship. He's…
It's all such BS. Biden never promised anyone that there wouldn't be any college protests during his Presidency. He's not a dictator. He tried to get things back to normal by not being a f*cking maniac every day, getting people vaccines, and lessening financial hardship. He's…
Trump doubles down on a ~$1,500 tax increase for a typical family and opens the door to making the tax increase larger. americanprogressaction.org/article/trumps…
Trump doubles down on a ~$1,500 tax increase for a typical family and opens the door to making the tax increase larger. americanprogressaction.org/article/trumps…
One does have to wonder about the popularity of tariffs, which put upward pressure on the price of goods they are applied to and also shield domestic industry, in an economy where unemployment is low and people are unhappy about prices.
One does have to wonder about the popularity of tariffs, which put upward pressure on the price of goods they are applied to and also shield domestic industry, in an economy where unemployment is low and people are unhappy about prices.
The tax increase from Trump's 10% tax on all imports for a middle-income family exceeds what they would get from extending Trump's tax cuts.
The tax increase from Trump's 10% tax on all imports for a middle-income family exceeds what they would get from extending Trump's tax cuts. https://t.co/fX40YJ1odq
“Extending the earned income tax credit’s success in supporting families with children and low-income workers, regardless of age, would provide a solid boost to low-income seniors…” Read more from Beth Almeida and @Brendan_Duke in @thehill: thehill.com/opinion/financ…
Trump has proposed a 10% tariff on all imported goods and a 60% or more tariff on Chinese imports. No matter what he says, tariffs aren't paid by the other country. They're paid by you. Recent analysis predicts his plan would cost the average family about $1,500 extra per year.
You all should read my @amprog colleague @jeanmarionross's new paper on how the Trump tax cuts' business provisions have failed to deliver the investment-driven growth nirvana promised by its authors 7 years ago. americanprogress.org/article/the-ta…
You all should read my @amprog colleague @jeanmarionross's new paper on how the Trump tax cuts' business provisions have failed to deliver the investment-driven growth nirvana promised by its authors 7 years ago. americanprogress.org/article/the-ta… https://t.co/M3Ejh77gFc
@DonFSchneider As a former Biden Administration economist, all I can say to tariff advocates who want to argue to consumers that "actually this is not inflationary because strictly speaking this is a price level adjustment" is: Good luck with that!
Yellen, at Ways and Means, says the Trump tax cuts were a dud: "It promised an investment boom and that certainly never materialized." On the strength of the economy after it passed she said: "I don't believe it did well because of that piece of legislation."
Today at the local park with my 5 kids, I was told I needed a permit to be there with a group of more than 5 people. I said that they were my own kids and he said I still needed a permit!
During debate over the 2017 tax cuts, proponents made audacious claims that the benefits would trickle down, spur investment, and economic growth. We know now that the bill failed to deliver. Instead it eroded revenues & exacerated inequality. americanprogress.org/article/the-ta…
Erica York of the Tax Foundation, asked Tuesday about Trump's new statements, told MarketWatch in an email that it's "bonkers" to say that an across-the-board import tax hike would not cause prices to rise and incomes to go down.
*New report* out about unemployment insurance administration financing. The funding process is a key contributor to prominent system failures, including the estimated $100+ billion in pandemic fraud and months-long delays getting benefits to claimants: niskanencenter.org/getting-the-jo…
Breaking: WASHINGTON (AP) — US drug control agency is moving to reclassify marijuana as a less dangerous drug in a historic shift, AP sources say.
Trump isn’t explaining why he wants Americans to pay more for groceries like Brazilian coffee, Indian tea, and Chilean avocados. americanprogressaction.org/article/trumps…
Trump isn’t explaining why he wants Americans to pay more for groceries like Brazilian coffee, Indian tea, and Chilean avocados. americanprogressaction.org/article/trumps… https://t.co/6SHeFc07l2
Trump's advisers keep downplaying the extent of his tariff proposals -- saying this 10% idea is just one more extreme idea among many -- but then Trump himself keeps suggesting he would actually like to be *more* aggressive
Gen Z is still young, but they typically have higher inflation-adjusted net wealth (assets minus debt, including student debt) than prior generations did at their age. Millennials, who were behind for a time due to the timing of the Great Recession, are now ahead of Boomers. /1
Matthew Yglesias @mattyglesias
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760 Followers 634 Following VP/Trade at Progressive Policy Institute, til recently USTR, volunteer essay tutor.If the Vietnam War was just the US government selling weapons to ARVN and voting with them at the UN with no American boots on the ground or American planes dropping bombs, would there have been a large anti-war protest movement?
If you reluctantly supported Biden in 2020 because you thought there wouldn't ever be any uncomfortable protests in the entire United States for four years, then that's on you.
It's all such BS. Biden never promised anyone that there wouldn't be any college protests during his Presidency. He's not a dictator. He tried to get things back to normal by not being a f*cking maniac every day, getting people vaccines, and lessening financial hardship. He's…
Axios: "For President Biden, the barricades and broken glass on college campuses are a brutal reminder that America has not snapped back to the normalcy he promised in his 2020 campaign." axios.com/2024/04/30/isr…
In retrospect giving academics access to twitter was wrong.
@msweet1919 @mattyglesias @DonFSchneider Based on how the US has performed relative to other rich countries--almost double the growth of the next highest G7 country, with about middle-of-the-road inflation--we've done a lot more right than we've done wrong.
One does have to wonder about the popularity of tariffs, which put upward pressure on the price of goods they are applied to and also shield domestic industry, in an economy where unemployment is low and people are unhappy about prices.
Notable: Trump recommits to a 10% tariff on all goods imported into the US, and suggests it may be higher than that. He argues its not inflationary. But most mainstream economists say tariffs amount to a tax on consumers who end up paying higher prices time.com/6972022/donald…
@HousingSpock A minute ago you had issues with the free market...and now your all for it? That's quite the 180. The free market wants this area to stay single family.
@DonFSchneider As a former Biden Administration economist, all I can say to tariff advocates who want to argue to consumers that "actually this is not inflationary because strictly speaking this is a price level adjustment" is: Good luck with that!
@JStein_WaPo @Brendan_Duke What does “a derivative of that” even mean?
@Brendan_Duke Because we should be making those avocados here in the good ol’ USA. In a factory. In Michigan.
Yellen, at Ways and Means, says the Trump tax cuts were a dud: "It promised an investment boom and that certainly never materialized." On the strength of the economy after it passed she said: "I don't believe it did well because of that piece of legislation."
Yellen at Ways and Means denies that Biden would raise taxes on anyone making under $400k: "He has not said he will allow everything to expire," she said of TCJA. "That is just wrong."
The mistake I see being made is to go from “tariffs aren’t inflationary” to “tariffs don’t impact prices.” Tariffs increase relative prices of tariffed goods, and that’s like the whole point!
But to Oren's point, there's a difference between one time price level jump (tariff effect) and inflation
During debate over the 2017 tax cuts, proponents made audacious claims that the benefits would trickle down, spur investment, and economic growth. We know now that the bill failed to deliver. Instead it eroded revenues & exacerated inequality. americanprogress.org/article/the-ta…
Erica York of the Tax Foundation, asked Tuesday about Trump's new statements, told MarketWatch in an email that it's "bonkers" to say that an across-the-board import tax hike would not cause prices to rise and incomes to go down.
*New report* out about unemployment insurance administration financing. The funding process is a key contributor to prominent system failures, including the estimated $100+ billion in pandemic fraud and months-long delays getting benefits to claimants: niskanencenter.org/getting-the-jo…
He'll get back to it after he releases his healthcare plan.
Eagerly awaiting today’s critical data release (the results of Kristaps Porzingis’ MRI).
Trump's advisers keep downplaying the extent of his tariff proposals -- saying this 10% idea is just one more extreme idea among many -- but then Trump himself keeps suggesting he would actually like to be *more* aggressive
Gen Z is still young, but they typically have higher inflation-adjusted net wealth (assets minus debt, including student debt) than prior generations did at their age. Millennials, who were behind for a time due to the timing of the Great Recession, are now ahead of Boomers. /1