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Pitchfork Economics with Nick Hanauer

Pitchfork Economics with Nick Hanauer

Civic Ventures

We are living through a paradigm shift from trickle-down neoliberalism to middle-out economics — a new understanding of who gets what and why. Join zillionaire class-traitor Nick Hanauer and some of the world’s leading economic and political thinkers as they explore the latest thinking on how the economy actually works.

324 - Why Wages Are Growing From the Bottom Up and Middle Out (with Arin Dube)
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  • 324 - Why Wages Are Growing From the Bottom Up and Middle Out (with Arin Dube)

    Today, Arin Dube, Professor of Economics at the University of Massachusetts Amherst, joins us to discuss his latest research, which suggests that the American labor market is undergoing a remarkable transformation. The widespread wage inequality that rapidly expanded between 1980 and 2019 is finally reversing, and American paychecks are growing again—especially at the bottom end of the income scale. In this enlightening conversation, Dube explains how and why the labor market has changed, how that's affecting wages, and how it all contributes to a virtual cycle of middle-out economic growth. Arin Dube is a Professor of Economics at the University of Massachusetts Amherst, well-known for his expertise in labor economics and public policy and his groundbreaking empirical research on minimum wage. His work often involves empirical analysis and utilizes large-scale datasets to provide evidence-based insights into the effects of various policy interventions. Dube's research has been widely recognized and cited, contributing to the ongoing discussions among policymakers and economists around labor market dynamics and policy design. Twitter: @arindube The Unexpected Compression thread https://twitter.com/arindube/status/1724147807563477440  NBER Working Paper https://www.nber.org/system/files/working_papers/w31010/w31010.pdf  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

    Tue, 26 Mar 2024
  • 323 - The True Cost of Trump’s Tax Plan (with Samantha Jacoby)

    In his State of the Union Address, President Biden made it clear that taxes and tax policy were his next big target for a middle-out makeover. However, we can't talk about the future of taxes without discussing the potential expiration of Trump’s’ 2017 tax law. Samantha Jacoby, a senior tax analyst at the Center on Budget and Policy Priorities, joins us today to help us understand the repercussions of Trump's tax policies and the opportunities ahead. Trump’s tax law was marketed as a boon for every working American, promising an average annual benefit of $4,000. But Jacoby unveils the true economic reality behind the Trump tax law: the primary beneficiaries were the wealthiest individuals and corporations; they did not pay for themselves as promised; and despite the trillions of tax giveaways to people at the top, most Americans saw no tangible economic benefit. Samantha Jacoby is a Senior Tax Analyst with the Center on Budget and Policy Priorities. Before joining the Center in 2018, she practiced tax law at two international law firms in New York and Washington, D.C. Previously, she worked as a policy and research analyst at the Solar Energy Industries Association, where she focused on the impact of tax incentives on the renewable energy industry.   Twitter: @jacsamoby The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver  IRS Funding thread by Samantha on Twitter https://x.com/jacsamoby/status/1752088112291807298?s=20 After Decades of Costly, Regressive, and Ineffective Tax Cuts, a New Course Is Needed Bipartisan Senate Action Passes Minimal Test for IRS Funding While Multiple House Republican Bills Fail  https://www.cbpp.org/research/federal-tax/after-decades-of-costly-regressive-and-ineffective-tax-cuts-a-new-course-is  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

    Tue, 19 Mar 2024
  • 322 - Middle Out to Mainstream

    Eleven years ago, Democracy Journal released a special issue on "The Middle Out Moment" that explored the implications of what was then the brand-new theory of middle-out economics. The moment may not have fully arrived back in 2013, but no doubt it's here now. So this week, Democracy Journal is publishing a follow-up edition called "The Middle Out Moment Part Two," marking the fact that what was once a new idea has now gone mainstream. In this episode, we'll hear from several of the economists, researchers, and former administration officials who contributed to the special issue as they explore how middle-out economics has been put into practice — and discuss the work that lies ahead as middle-out economics becomes the new mainstream. Guests include: Felicia Wong, Bharat Ramamurti, Tara McGuinness, Sandeep Vaheesan, Todd Tucker, Ronnie Chatterji, Neale Mahoney, and Heidi Shierholz The Middle-Out Moment is Here: https://democracyjournal.org/category/magazine/72 Twitter:  Michael Tomasky - @mtomasky Felicia Wong - @FeliciaWongRI Bharat Ramamurti - @BharatRamamurti Tara McGuinness - @taradmcguinness Sandeep Vaheesan - @sandeepvaheesan Todd Tucker - @toddntucker Ronnie Chatterji - @RonnieChatterji Neale Mahoney - @nealemahoney Heidi Shierholz - @hshierholz Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

    Tue, 12 Mar 2024
  • 321 - Why Americans are so displeased with the economy (with Aaron Sojourner)

    The latest economic indicators show a historically strong economy. Over the past couple of years, the unemployment rate has consistently stayed below 4%, real wages have been growing faster than they have in decades, and economic growth has been strong. And yet, public opinion surveys consistently show dissatisfaction with economic conditions. Aaron Sojourner, a labor economist from the Upjohn Institute, joins us to discuss his research findings into why Americans are so displeased with the economy. Aaron helps us unpack the complicated relationship between news coverage of the economy and its effect on consumer sentiment. Aaron Sojourner is a labor economist and senior researcher at the Upjohn Institute for Employment Research. His research focuses on the effects of labor-market institutions, policies to promote efficient and equitable development of human capital, and behavioral economic approaches to consumer finance decisions. He’s also served as the senior economist for labor on the U.S. Council of Economic Advisers for Presidents Obama and Trump. Twitter: @aaronsojourner BlueSky: @aaronsojourner.bsky.social Threads: aaronsojourner Why are Americans so displeased with the economy? https://www.brookings.edu/articles/why-are-americans-so-displeased-with-the-economy Aaron’s thread on within-worker real wage growth on Threads: https://www.threads.net/@aaronsojourner/post/C3OVo8FrDgV/?igshid=NTc4MTIwNjQ2YQ==  Tax Subsidies for Journalism Are Only for Rich People: Perry Bacon Edition https://cepr.net/tax-subsidies-for-journalism-are-only-for-rich-people-perry-bacon-edition Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

    Tue, 05 Mar 2024
  • 320 - A Tale of Two Tax Systems (with David Cay Johnston)

    While the average American worker is subject to a progressive income tax system where tax rates increase as income rises, the wealthy often exploit a range of loopholes and deductions that significantly reduce their tax burden—sometimes to the point where the biggest corporations and one-percenters pay nothing at all. David Cay Johnston, a tax policy expert and former investigative journalist for the New York Times, joins us today to help unravel the complexity of the American tax system, which has functionally created two different tax systems: One for the wealthy and powerful and one for everyone else. David Cay Johnston is an award-winning investigative journalist and author known for his expertise in tax policy and economic inequality. Johnston worked as a tax reporter for The New York Times for over a decade. At the Times, he won the Pulitzer Prize for Beat Reporting in 2001 for his coverage of tax loopholes and corporate tax evasion. Throughout his career, Johnston has authored several critically acclaimed books, including "Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich—and Cheat Everybody Else" and “Divided: The Perils of Our Growing Inequality.” Twitter: @DavidCayJ The Whiteness of Wealth: How the Tax System Impoverishes Black Americans--and How We Can Fix It by Dorothy Brown https://bookshop.org/a/101360/9780525577331  More from David Cay Johnston:  “Alvin Bragg’s roadmap to convict Donald Trump” https://www.nydailynews.com/2023/01/08/alvin-braggs-roadmap-to-convict-donald-trump/ Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich--and Cheat Everybody Else https://bookshop.org/a/101360/9781591840695  Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill) https://bookshop.org/a/101360/9781591842484  Divided: The Perils of Our Growing Inequality https://bookshop.org/a/101360/9781595589231  Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

    Tue, 27 Feb 2024
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