The White House is proposing substantial increases in personal income tax rates for those earning about a half-million dollars and higher tax rates on large corporations. Republicans are aghast.
Even in a pandemic, 64 billionaires have seen incredible gains from the major league sports teams they own.
Thigpenn says the path forward means reversing public spending priorities that direct resources away from low-income communities — priorities that create tax structure that makes low-income communities in California scramble to fund schools.
On Nov. 3, voters in many states and cities approved a variety of inequality-related proposals, from taxing the wealthy to increasing the minimum wage and tenant protections.
At the same moment that Trump was riding his horse Xenophobe through a narrow passageway in the Electoral College to the presidency, California elected only Democrats..., extended progressive tax revenues and ...locked out anti-immigrant policy...
The good news is that we can fix tax injustice, right now. There is nothing inherent in modern technology or globalization that destroys our ability to institute a highly progressive tax system. The choice is ours.
A 70 percent marginal tax rate might not be realistic—but that doesn’t matter. Just proposing a 70 percent marginal tax rate has restructured a debate over taxes.
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When the heirs and heiresses of billionaire fortunes can take over an entire political party and force them to pass public policies that the vast majority of even their own voters don't want, there is a problem with democracy. A conversation with Michael Kink, executive director of the Strong Economy for All Coalition.
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