Jack Temple

Jack Temple is a communications intern at Demos and contributor to the blog Policy Shop.

Recent Articles

With Corporate Taxes, Less Is More

The federal government can lower rates for companies while increasing revenue.

(Flickr/rexboggs5)
This piece is the fifth in a six-part series on taxation, and a joint project by The American Prospect and its publishing partner, Demos. There is no shortage of alarmism when it comes to corporate taxes. Earlier this year, Mitt Romney said that the U.S. tax code “looks like it was devised by our worst enemy to tie us in knots.” A more recent memo drafted by the Senate Republican Caucus claimed that the “corporate income tax harms workers, consumers, job creation, investment, and innovation” (you have to wonder what else exactly is left). These statements are enough to scare anyone into thinking that the entire U.S. economy will crumble if corporate tax rates aren’t slashed tomorrow. But, as Republicans often claim, are U.S. corporate tax rates really among the highest in the world? And are workers really so dependent on protecting corporate profits? More important, is there any reason the U.S. shouldn’t raise more revenues from corporations during this time of great fiscal need?...

Smoked Out

As the fallout over the Bank of America debit-card fees shows, smart regulation has to be matched with aggressive consumer education.

(Flickr/moneyblognewz)
Unemployment is stuck at 9.1 percent . Median household incomes dropped precipitously even after the recession was declared "over." Wall Street is earning record profits, but little of this money is making it into the hands of consumers. Against that backdrop, Bank of America's announcement that it would begin charging a $5 monthly fee for debit-card transactions seems like another instance of bank profiteering on the backs of ordinary Americans. But, as if the near collapse of the economy had been the product of regulators paying too much attention, the right has rushed to blame the Durbin Amendment, a provision in the Dodd-Frank financial-reform law that limits what banks can charge retailers for debit-card transactions. Explaining the bank's rationale for the fee, a spokesperson said that "the economics of offering a debit card have changed with recent regulations." Although she stopped short of referencing the Durbin Amendment by name, others did not restrain themselves: The right...