How changes to California’s Proposition 13 could reduce inequality.
Policymakers should reconsider how the tax code treats the most well-off. Here is a closer look.
Californians are ready to fight to reclaim over $11 billion robbed every year from schools and local communities, shaping a new legacy of investment in the people of California.
The analysis shows the wealthiest top 1 percent of taxpayers’ share of the tax cut would be 44 percent. Apparently Donald Trump just can't get enough tax breaks.
Most people know that Walmart is the world’s biggest corporation. Virtually no one knows that Walmart has an extensive and secretive web of subsidiaries located in countries widely known as tax havens. Typically, the primary purpose for a corporation to set up subsidiaries in tax havens where it has little to no business operations and few, if any, employees is to pay little, if any, taxes and to maintain financial secrecy.
If the top one percent were taxed at the same rate as the middle 20 percent, states and localities would raise $68 billion per year. Similarly, if the top 20 percent paid the same as the middle 20 percent, states and localities would generate $128 billion each year.
Today, some people believe that Social Security will not be there for them even though there are equitable solutions that will fully fund Social Security for the foreseeable future. In planning for the future of Social Security, Social Security is not a private opt-in or -out choice like the decision to fund an IRA. Instead, for decades, it has involved employees and employers providing secure retirement benefits generation after generation.
On Monday, a grassroots, anti–corporate tax-dodging coalition called Flip the Debt crashed a "Fix the Debt" party at St. Anselm's College in New Hampshire hosted by Honeywell CEO David Cote to tell the gathered deficit hawk disciples that paying their "damn taxes" would be a better solution than crippling the nation with fiscal austerity measures.
Dramatic cuts in tax rates have not led to an acceleration in economic growth, investment, or productivity.
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