David S. Mitchell
@dsmitch28.bsky.social
tax & regulatory policy @equitablegrowth. proud alum of @AspenFSP @SenSherrodBrown @GeorgetownLaw @PrincetonSPIA @TuftsUniversity. Opinions my own.
@chusak.bsky.social shows that expiring Affordable Care Act premium tax credits--which Dems are fighting to extend--mean more to true small business owners than so-called "small business tax relief" included in this summer's Republican megabill, which went almost entirely to the rich
New @americanprogress.bsky.social I find that 4.4 million small business owners and self-employed people face a $1,500 mean tax hike this year.
When enhanced marketplace tax credits expire, businesspeople making <$150k, face a larger tax hike than eliminating the passthru deduction
When enhanced marketplace tax credits expire, businesspeople making <$150k, face a larger tax hike than eliminating the passthru deduction
October 28, 2025 at 8:19 PM
@chusak.bsky.social shows that expiring Affordable Care Act premium tax credits--which Dems are fighting to extend--mean more to true small business owners than so-called "small business tax relief" included in this summer's Republican megabill, which went almost entirely to the rich
Reposted by David S. Mitchell
In a new analysis, Chris Bangert-Drowns & Chiara Chanoi measure workers’ exposure to AI and assess how it affects wages.
They find AI exposure is higher among people with higher levels of education who work in high-paying jobs, regardless of gender or race.
🔗:
They find AI exposure is higher among people with higher levels of education who work in high-paying jobs, regardless of gender or race.
🔗:
Workplace exposure to artificial intelligence is higher among U.S. workers with higher wages, depending on how AI is used
A look at the continuing impacts of artificial intelligence on the U.S. labor market and avenues for future exploration.
equitablegrowth.org
October 23, 2025 at 3:00 PM
In a new analysis, Chris Bangert-Drowns & Chiara Chanoi measure workers’ exposure to AI and assess how it affects wages.
They find AI exposure is higher among people with higher levels of education who work in high-paying jobs, regardless of gender or race.
🔗:
They find AI exposure is higher among people with higher levels of education who work in high-paying jobs, regardless of gender or race.
🔗:
Opposition to the qualified small business stock exclusion crosses ideological lines!
@kylepomerleau.bsky.social & me on why QSBS-which Republicans just expanded-is inefficient, unfair & should be scrapped, or at least reformed to fix glaring defects.
www.taxnotes.com/tax-notes-to... @taxnotes.com
@kylepomerleau.bsky.social & me on why QSBS-which Republicans just expanded-is inefficient, unfair & should be scrapped, or at least reformed to fix glaring defects.
www.taxnotes.com/tax-notes-to... @taxnotes.com
www.taxnotes.com
October 10, 2025 at 4:17 PM
Opposition to the qualified small business stock exclusion crosses ideological lines!
@kylepomerleau.bsky.social & me on why QSBS-which Republicans just expanded-is inefficient, unfair & should be scrapped, or at least reformed to fix glaring defects.
www.taxnotes.com/tax-notes-to... @taxnotes.com
@kylepomerleau.bsky.social & me on why QSBS-which Republicans just expanded-is inefficient, unfair & should be scrapped, or at least reformed to fix glaring defects.
www.taxnotes.com/tax-notes-to... @taxnotes.com
CBO confirms that the retroactive corporate tax cuts included in the Republican budget bill this summer delivered a multi-billion dollar windfall to the largest multinationals this fiscal year.
www.cbo.gov/publication/...
www.cbo.gov/publication/...
Monthly Budget Review: September 2025
The federal budget deficit was $1.8 trillion in fiscal year 2025, CBO estimates, $8 billion less than the shortfall recorded during fiscal year 2024.
www.cbo.gov
October 9, 2025 at 2:40 PM
CBO confirms that the retroactive corporate tax cuts included in the Republican budget bill this summer delivered a multi-billion dollar windfall to the largest multinationals this fiscal year.
www.cbo.gov/publication/...
www.cbo.gov/publication/...
Great insights (and fun acronym reinterpretation!) from
@itep.org.
States should follow California's lead and decouple from the federal Qualified Small Business Stock exclusion. It sure doesn't seem like early-stage tech investment in CA has suffered without it...
itep.org/qsbs-trump-t...
@itep.org.
States should follow California's lead and decouple from the federal Qualified Small Business Stock exclusion. It sure doesn't seem like early-stage tech investment in CA has suffered without it...
itep.org/qsbs-trump-t...
Quite Some BS: Expanded ‘QSBS’ Giveaway in Trump Tax Law Threatens State Revenues and Enriches the Wealthy
States should decouple from the federal Qualified Small Business Stock (QSBS) exemption.
itep.org
October 7, 2025 at 7:08 PM
Great insights (and fun acronym reinterpretation!) from
@itep.org.
States should follow California's lead and decouple from the federal Qualified Small Business Stock exclusion. It sure doesn't seem like early-stage tech investment in CA has suffered without it...
itep.org/qsbs-trump-t...
@itep.org.
States should follow California's lead and decouple from the federal Qualified Small Business Stock exclusion. It sure doesn't seem like early-stage tech investment in CA has suffered without it...
itep.org/qsbs-trump-t...
Reposted by David S. Mitchell
Why would some business interests prefer for Congress to fly blind in tax policymaking? 🤔
Very good take from @howardgleckman.bsky.social @taxpolicycenter.bsky.social:
Very good take from @howardgleckman.bsky.social @taxpolicycenter.bsky.social:
September 22, 2025 at 1:00 PM
Why would some business interests prefer for Congress to fly blind in tax policymaking? 🤔
Very good take from @howardgleckman.bsky.social @taxpolicycenter.bsky.social:
Very good take from @howardgleckman.bsky.social @taxpolicycenter.bsky.social:
Ever wonder what brides & grooms really mean when they recite their wedding vows?
My attempt at translation: weeklyhumorist.com/the-jaded-we...
"I got really lucky and am marrying someone completely out of my league"
=
“I will be spending the next 20 years paranoid about you cheating on me”
My attempt at translation: weeklyhumorist.com/the-jaded-we...
"I got really lucky and am marrying someone completely out of my league"
=
“I will be spending the next 20 years paranoid about you cheating on me”
The Jaded Wedding Attendee’s Translation Guide for Marital Vows – Weekly Humorist
weeklyhumorist.com
September 17, 2025 at 2:06 PM
Ever wonder what brides & grooms really mean when they recite their wedding vows?
My attempt at translation: weeklyhumorist.com/the-jaded-we...
"I got really lucky and am marrying someone completely out of my league"
=
“I will be spending the next 20 years paranoid about you cheating on me”
My attempt at translation: weeklyhumorist.com/the-jaded-we...
"I got really lucky and am marrying someone completely out of my league"
=
“I will be spending the next 20 years paranoid about you cheating on me”
It’s dog days of summer, but tax scholarship doesn't take a vacation!
New study out today by Balkir, Saez, Yagan, and Zucman finds 400 richest Americans pay just 23.8% in total (federal, state, foreign) taxes, less than the 30% paid by the average American. www.nber.org/papers/w34170 🧵
New study out today by Balkir, Saez, Yagan, and Zucman finds 400 richest Americans pay just 23.8% in total (federal, state, foreign) taxes, less than the 30% paid by the average American. www.nber.org/papers/w34170 🧵
How Much Tax Do US Billionaires Pay? Evidence from Administrative Data
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
www.nber.org
August 25, 2025 at 3:37 PM
It’s dog days of summer, but tax scholarship doesn't take a vacation!
New study out today by Balkir, Saez, Yagan, and Zucman finds 400 richest Americans pay just 23.8% in total (federal, state, foreign) taxes, less than the 30% paid by the average American. www.nber.org/papers/w34170 🧵
New study out today by Balkir, Saez, Yagan, and Zucman finds 400 richest Americans pay just 23.8% in total (federal, state, foreign) taxes, less than the 30% paid by the average American. www.nber.org/papers/w34170 🧵
Reposted by David S. Mitchell
"We want them gone today."
As Republican states send National Guard troops to Washington, D.C., organizer Keya Chatterjee of @freedcproject.bsky.social joins calls to end Trump's federal takeover of the nation's capital.
As Republican states send National Guard troops to Washington, D.C., organizer Keya Chatterjee of @freedcproject.bsky.social joins calls to end Trump's federal takeover of the nation's capital.
August 20, 2025 at 12:35 PM
"We want them gone today."
As Republican states send National Guard troops to Washington, D.C., organizer Keya Chatterjee of @freedcproject.bsky.social joins calls to end Trump's federal takeover of the nation's capital.
As Republican states send National Guard troops to Washington, D.C., organizer Keya Chatterjee of @freedcproject.bsky.social joins calls to end Trump's federal takeover of the nation's capital.
This is an opportunity for organizing...
And for reminding/educating fellow Americans across the country, who will be reading news stories about yesterday's events, about the 700,000+ disenfranchised Americans living in DC without representation in Congress.
And for reminding/educating fellow Americans across the country, who will be reading news stories about yesterday's events, about the 700,000+ disenfranchised Americans living in DC without representation in Congress.
DC residents and allies!! It’s time to turn your anger at the federal takeover of law enforcement into action with @freedcproject.bsky.social 🧵
August 12, 2025 at 5:54 AM
This is an opportunity for organizing...
And for reminding/educating fellow Americans across the country, who will be reading news stories about yesterday's events, about the 700,000+ disenfranchised Americans living in DC without representation in Congress.
And for reminding/educating fellow Americans across the country, who will be reading news stories about yesterday's events, about the 700,000+ disenfranchised Americans living in DC without representation in Congress.
Reposted by David S. Mitchell
DC residents and allies!! It’s time to turn your anger at the federal takeover of law enforcement into action with @freedcproject.bsky.social 🧵
August 11, 2025 at 8:46 PM
DC residents and allies!! It’s time to turn your anger at the federal takeover of law enforcement into action with @freedcproject.bsky.social 🧵
Reposted by David S. Mitchell
Economic threats ahead, courtesy of your president
Opinion | The Economy Is Starting to Pay for Trump’s Chaos
www.nytimes.com
August 11, 2025 at 11:15 AM
Economic threats ahead, courtesy of your president
My terrible ten!
The 10 worst policies in the budget bill Trump signed earlier this month. 🧵
The 10 worst policies in the budget bill Trump signed earlier this month. 🧵
The 2025 #Reconciliation law touches almost every corner of the federal budget and U.S. economy. @dsmitch28.bsky.social analyzes 10 harmful policies included in the final bill.
How will they impact Americans and economic growth over the next 10 years and beyond?
equitablegrowth.org/the-10-worst...
How will they impact Americans and economic growth over the next 10 years and beyond?
equitablegrowth.org/the-10-worst...
The 10 worst policies for equitable economic growth in the 2025 budget reconciliation law
The 2025 budget reconciliation law’s 10 most harmful policies for Americans and economic growth over the next decade and beyond.
equitablegrowth.org
July 15, 2025 at 5:06 PM
My terrible ten!
The 10 worst policies in the budget bill Trump signed earlier this month. 🧵
The 10 worst policies in the budget bill Trump signed earlier this month. 🧵
Even before Senate made them worse, OBBBA's Medicaid & SNAP cuts projected to be economic equivalent of losing:
97% of food manufacturing in New Jersey's 7th district (Kean)
85% of farming in NE-2 (Bacon)
69% of hospitality (largest private industry in district!) in CO-3 (Hurd)
...
97% of food manufacturing in New Jersey's 7th district (Kean)
85% of farming in NE-2 (Bacon)
69% of hospitality (largest private industry in district!) in CO-3 (Hurd)
...
July 2, 2025 at 2:54 PM
Even before Senate made them worse, OBBBA's Medicaid & SNAP cuts projected to be economic equivalent of losing:
97% of food manufacturing in New Jersey's 7th district (Kean)
85% of farming in NE-2 (Bacon)
69% of hospitality (largest private industry in district!) in CO-3 (Hurd)
...
97% of food manufacturing in New Jersey's 7th district (Kean)
85% of farming in NE-2 (Bacon)
69% of hospitality (largest private industry in district!) in CO-3 (Hurd)
...
Reposted by David S. Mitchell
Americans will pay more due to cuts to health care and other services.
Future generations will pay for the multitrillion-dollar debt increase.
And what for? Massive, expensive tax cuts to the wealthiest few.
Future generations will pay for the multitrillion-dollar debt increase.
And what for? Massive, expensive tax cuts to the wealthiest few.
July 2, 2025 at 1:52 PM
Americans will pay more due to cuts to health care and other services.
Future generations will pay for the multitrillion-dollar debt increase.
And what for? Massive, expensive tax cuts to the wealthiest few.
Future generations will pay for the multitrillion-dollar debt increase.
And what for? Massive, expensive tax cuts to the wealthiest few.
A reminder that even the House version of the SNAP and Medicaid cuts would be the economic equivalent of losing 60% of the oil and gas extraction industry in Alaska.
equitablegrowth.org/medicaid-and...
equitablegrowth.org/medicaid-and...
Medicaid and SNAP cuts in congressional Republicans’ budget bill will negatively impact local economies
New research shows how cuts to Medicaid and other social programs negatively impact local economies as well as program beneficiaries.
equitablegrowth.org
July 1, 2025 at 2:33 PM
A reminder that even the House version of the SNAP and Medicaid cuts would be the economic equivalent of losing 60% of the oil and gas extraction industry in Alaska.
equitablegrowth.org/medicaid-and...
equitablegrowth.org/medicaid-and...
@kylepomerleau.bsky.social & me on the many shortcomings of #OBBBA
Including the particularly egregious but little publicized expansion of qualified small business stock exclusion
Both QSBS & bill overall are:
- Not pro-growth!
- Regressive!
- Expensive!
www.concordcoalition.org/facing-the-f...
Including the particularly egregious but little publicized expansion of qualified small business stock exclusion
Both QSBS & bill overall are:
- Not pro-growth!
- Regressive!
- Expensive!
www.concordcoalition.org/facing-the-f...
A Big Bill, but an Economic Bust - The Concord Coalition
This week on Facing the Future, we heard from two tax experts with different ideological perspectives who have been following congressional action on the One Big Beautiful Bill Act (OBBBA). David S. M...
www.concordcoalition.org
July 1, 2025 at 2:19 AM
@kylepomerleau.bsky.social & me on the many shortcomings of #OBBBA
Including the particularly egregious but little publicized expansion of qualified small business stock exclusion
Both QSBS & bill overall are:
- Not pro-growth!
- Regressive!
- Expensive!
www.concordcoalition.org/facing-the-f...
Including the particularly egregious but little publicized expansion of qualified small business stock exclusion
Both QSBS & bill overall are:
- Not pro-growth!
- Regressive!
- Expensive!
www.concordcoalition.org/facing-the-f...
@hboushey.bsky.social & me on why we shouldnt be surprised that massive inequality-exploding tax cut wont grow economy
Pro (equitable!) growth tax policies abound, including taxing ultra-rich, but #OBBBA moves in wrong direction @equitablegrowth.bsky.social @msnbc.com www.msnbc.com/opinion/msnb...
Pro (equitable!) growth tax policies abound, including taxing ultra-rich, but #OBBBA moves in wrong direction @equitablegrowth.bsky.social @msnbc.com www.msnbc.com/opinion/msnb...
Opinion | The GOP's megabill makes the same economic mistake Republicans have made for decades
The legislation misunderstands how economic growth actually works.
www.msnbc.com
June 30, 2025 at 11:33 PM
@hboushey.bsky.social & me on why we shouldnt be surprised that massive inequality-exploding tax cut wont grow economy
Pro (equitable!) growth tax policies abound, including taxing ultra-rich, but #OBBBA moves in wrong direction @equitablegrowth.bsky.social @msnbc.com www.msnbc.com/opinion/msnb...
Pro (equitable!) growth tax policies abound, including taxing ultra-rich, but #OBBBA moves in wrong direction @equitablegrowth.bsky.social @msnbc.com www.msnbc.com/opinion/msnb...
Reposted by David S. Mitchell
NEW: The Senate version of One Big Beautiful Bill is one big ugly transfer of wealth from low-income families to the rich.
Americans struggling to get by will pay more for groceries & health care so the highest income families can get big tax cuts. This isn’t shared sacrifice.
Americans struggling to get by will pay more for groceries & health care so the highest income families can get big tax cuts. This isn’t shared sacrifice.
June 28, 2025 at 9:25 PM
NEW: The Senate version of One Big Beautiful Bill is one big ugly transfer of wealth from low-income families to the rich.
Americans struggling to get by will pay more for groceries & health care so the highest income families can get big tax cuts. This isn’t shared sacrifice.
Americans struggling to get by will pay more for groceries & health care so the highest income families can get big tax cuts. This isn’t shared sacrifice.
Medicaid & SNAP cuts don’t just hurt beneficiaries, they hurt our local economies (h/t @robertmanduca.bsky.social):
Would be like losing 60% of oil & gas extraction industry in Alaska
All textile & furniture manufacturing in North Carolina
All logging & paper manufacturing in Maine...
Would be like losing 60% of oil & gas extraction industry in Alaska
All textile & furniture manufacturing in North Carolina
All logging & paper manufacturing in Maine...
New working paper alert! Posted at @equitablegrowth.bsky.social, it investigates the economic geography of social transfer programs and financial income--with implications for the Medicaid and SNAP cuts proposed in the reconciliation bill 👀
equitablegrowth.org/working-pape...
equitablegrowth.org/working-pape...
Financial and Transfer Income as Components of the Regional Economic Base
Government transfers and financial income form a major component of the basic sector in the United States.
equitablegrowth.org
June 27, 2025 at 2:03 PM
Medicaid & SNAP cuts don’t just hurt beneficiaries, they hurt our local economies (h/t @robertmanduca.bsky.social):
Would be like losing 60% of oil & gas extraction industry in Alaska
All textile & furniture manufacturing in North Carolina
All logging & paper manufacturing in Maine...
Would be like losing 60% of oil & gas extraction industry in Alaska
All textile & furniture manufacturing in North Carolina
All logging & paper manufacturing in Maine...
"This record reveals a consistent pattern. The tax cuts did not deliver on the promises of their advocates. In fact, they often achieved exactly the opposite, worsening the debt and exacerbating income inequality.”
www.nytimes.com/2025/06/25/u...
www.nytimes.com/2025/06/25/u...
Republicans Say Tax Cuts Will Spur Growth. It Hasn’t Worked in the Past.
www.nytimes.com
June 27, 2025 at 1:31 PM
"This record reveals a consistent pattern. The tax cuts did not deliver on the promises of their advocates. In fact, they often achieved exactly the opposite, worsening the debt and exacerbating income inequality.”
www.nytimes.com/2025/06/25/u...
www.nytimes.com/2025/06/25/u...
Eye-popping analysis here!
Once Americans learn about the unprecedented regressivity in the reconciliation bill, they oppose 78-11.
Even Republicans oppose 61-23 (after initially supporting before learning the distributional effect of the tax & spending cuts).
Once Americans learn about the unprecedented regressivity in the reconciliation bill, they oppose 78-11.
Even Republicans oppose 61-23 (after initially supporting before learning the distributional effect of the tax & spending cuts).
June 25, 2025 at 2:50 PM
Eye-popping analysis here!
Once Americans learn about the unprecedented regressivity in the reconciliation bill, they oppose 78-11.
Even Republicans oppose 61-23 (after initially supporting before learning the distributional effect of the tax & spending cuts).
Once Americans learn about the unprecedented regressivity in the reconciliation bill, they oppose 78-11.
Even Republicans oppose 61-23 (after initially supporting before learning the distributional effect of the tax & spending cuts).
Reposted by David S. Mitchell
NYT found the “big beautiful bill” would be the largest transfer from the poor to the rich in a single law since at least 1990.
In fact, it would be the largest transfer *ever.*
Reagan’s low-income cuts were MUCH smaller - and his tax cuts were done separately. And before him, nothing comes close.
In fact, it would be the largest transfer *ever.*
Reagan’s low-income cuts were MUCH smaller - and his tax cuts were done separately. And before him, nothing comes close.
June 13, 2025 at 4:15 PM
NYT found the “big beautiful bill” would be the largest transfer from the poor to the rich in a single law since at least 1990.
In fact, it would be the largest transfer *ever.*
Reagan’s low-income cuts were MUCH smaller - and his tax cuts were done separately. And before him, nothing comes close.
In fact, it would be the largest transfer *ever.*
Reagan’s low-income cuts were MUCH smaller - and his tax cuts were done separately. And before him, nothing comes close.
Reposted by David S. Mitchell
What these changes look like in raw dollar terms, per CBO analysis of GOP budget bill:
Typical household in bottom income decile loses ~$1,600 annually.
Typical household in richest income decile gains ~$12,000 annually.
Typical household in bottom income decile loses ~$1,600 annually.
Typical household in richest income decile gains ~$12,000 annually.
June 12, 2025 at 3:35 PM
What these changes look like in raw dollar terms, per CBO analysis of GOP budget bill:
Typical household in bottom income decile loses ~$1,600 annually.
Typical household in richest income decile gains ~$12,000 annually.
Typical household in bottom income decile loses ~$1,600 annually.
Typical household in richest income decile gains ~$12,000 annually.