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Equitable Growth supports research and policy analysis on how trends in economic inequality and mobility and changes in the economy have affected the concentration of wealth, income, and earnings, and how these distributional shifts have affected the promise of economic security and opportunity. More
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Morning Must-Read: Nicholas Bagley: Am I Unreasonable?

Nicholas Bagley: Am I unreasonable?: “To prevail, it’s not enough for the King challengers…

…to show that it’s possible to read the ACA to eliminate tax credits from states that refused to set up their own exchanges. They must also demonstrate that the ACA does so unambiguously—and that the IRS’s contrary interpretation is therefore unreasonable. Under Chevron, if the ACA could be read in a couple of different ways, the courts owe deference to the IRS’s authoritative decision about how best to read it.

I confess that I do think Nick Bagley is being unreasonable. They do not have to demonstrate that their reading of the ACA doesn’t apply. All they have to do is induce five justices not to apply Chevron. They don’t even have to offer them a reason to overrule Chevron–just not to apply it in this particular instance. The justices are good at that.

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Morning Must-Read: Nicholas Bagley: Am I Unreasonable?

December 2, 2014

December 2, 2014

U.S. economic mobility trends and outcomes

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon