Property taxes, the lifeblood of local governments and school districts, are among the most powerful and stealthy engines of racism and wealth inequality our nation has ever produced.
While most Americans predominantly live off the income they earn from a job—income that is taxed all year, every year—the very richest households live lavishly off capital gains that may never be taxed.
The unspoken agreement between the two major parties is to omit any serious discussion of raising taxes to avoid hitting the debt ceiling. That omission entails deception.
A new GOP bill, formally entitled the ’Death Tax Repeal Act,’ would enable our super-rich to avoid both income and estate tax on their investment gains.
Economic inequality undermines democracy, hastens environmental destruction, fosters anxiety, and erodes social trust. We can start to solve these problems by taxing the rich.
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