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All income groups pay taxes, but overall the U.S. tax system is progressive.
There is a high rate of child poverty in the United States compared to other developed countries.
Child poverty reduced the size of the U.S. economy by an estimated $1 trillion dollars, or 5.4 percent of gross domestic product, in 2015, according to a new study.
Recent research has found that Social Security is more effective at reducing poverty than previously believed. Without income from Social Security, two thirds of the elderly would be considered poor.
Capital gains are taxed at a lower marginal rate than ordinary income, but the value of that sale is not currently adjusted for inflation.
Last year’s tax legislation was a key opportunity to simplify the tax code, but in addition to adding significantly to our national debt, the Tax Cuts and Jobs Act actually increased the number of tax breaks.
The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.
Today's young adults are more likely to have student debt than their historical peers.
Today's young adults face higher student debt burdens than their historical peers, even after adjusting for inflation.