Dec 5, 2017

12/05/2017: Lost Einsteins and lost tax revenue

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Those are two completely different subjects, one having to do with a very long-term American problem: the dearth of innovation, which could be remedied if more low-income people of color and women were encouraged as children to innovate, according…

Segments From this episode

American laborers as art at the National Portrait Gallery

Dec 5, 2017
"I want people to walk away recognizing workers in their daily life ... and possibly feel a little less alone walking away," says the exhibit's co-curator.
Smithsonian Museum curator Dorothy Moss leads Marketplace host Kai Ryssdal through the new exhibition “The Sweat of Their Face: Portraying American Workers.”
Bridget Bodnar/Marketplace

Northern Ireland-Irish Republic border is a hurdle for Brexit

Dec 5, 2017
The Irish Republic wants a guarantee that the border will remain open after Britain leaves the European Union. ...will stay as open as it is today.
Demonstrators wave EU flags outside the Houses of Parliament in Westminster, central London, today.
DANIEL LEAL-OLIVAS/AFP/Getty Images

Here’s why a one-year phase-in of the corporate tax cut could be a big deal

Dec 5, 2017
One of the key parts of the GOP tax reform plan is a cut in the corporate tax rate from the current 35 percent to 20 percent. In the bill passed by the House, that cut would begin next year.…

Why "lost Einsteins" are hurting our economy

Dec 5, 2017
Unrealized talent can have a serious economic impact.
“Lost Einsteins” are a group of people, including minorities and women, who could have become successful innovators but didn't have the right opportunities to come through the innovation pipeline, says Raj Chetty, a Stanford economist. Above, a Seoul, South Korea, exhibit of physicist Albert Einstein.
Photo by Chung Sung-Jun/Getty Images

Lawmakers ponder fate of corporate AMT

Dec 5, 2017
The House and Senate have both passed tax bills cutting the rate that corporations pay. The lawmakers differ though on the details, including what to do with the corporate alternative minimum tax. The House bill repealed it, but after some…

There’s more to America’s global competitiveness than the tax rate

Dec 5, 2017
Tax savings could go to shareholders, not new technology, jobs or other investments.
Senate Majority Leader Mitch McConnell, a Republican from Kentucky, speaks to reporters about the Senate's version of the tax reform bill today at the Capitol.
Mark Wilson/Getty Images

Those are two completely different subjects, one having to do with a very long-term American problem: the dearth of innovation, which could be remedied if more low-income people of color and women were encouraged as children to innovate, according to Stanford economics professor Raj Chetty. And the other problem, lost tax revenue, is more concrete. Forty billion dollars over the next 10 years — that’s what we’d lose if the House’s proposition to repeal the 20 percent minimum tax rate for corporations goes forward (the Senate’s version of the bill keeps it.) Those differences are being ironed out this week. Also this week, a government shutdown looms. In other news, we check in on how Ireland’s open border will be affected by Brexit, and we visit the National Portrait Gallery to see an exhibition on American workers.

 

Music from the episode

Trapped Onra
Bad Liar Selena Gomez
Turino Sun Sébastien Tellier