If implemented, the Piketty-esque legislation proposed by President Gustavo Petro could raise more than $11.5bn annually to fund anti-poverty efforts, free public university and other social welfare programs.
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A nod in the direction of a ceiling on CEO pay has just come from an unlikely source: the two finalists in the 2022 French presidential election.
This reconciliation bill is being opposed by every Republican in Congress as well as the drug companies, the insurance companies, the fossil fuel industry and the billionaire class. They want to maintain the status quo in which the rich get richer.
A wealth tax would raise badly-needed revenue. More importantly, it could reduce the fortunes—and power—of billionaires
Today it’s clear that on issue after issue, Sanders’ thunder on the left has carried the day among a majority of Americans, including substantial numbers of Republicans. Conservative attacks on Sanders-style proposals are increasingly falling flat.
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"Surging billionaire wealth hits a painful nerve for the millions of people who have lost loved ones and experienced declines in their health, wealth, and livelihoods."
Biden is not going to quadruple anybody’s taxes, but he will increase the tax burden on the very rich. The richest 5 percent of taxpayers would bear almost the entire burden of Biden’s plan, which would raise $2.8 trillion over the next decade...
"Working people and our movement have to unapologetically claim victory for what we've won, because we want to spread these victories to other cities."
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