The concentration of wealth in America has reached levels that make the gilt of the 19th century Gilded Age look like dross. There’s sound economic and social sense in taxing the hell out of excessive incomes and excessive wealth.
AOC’s tax proposal finds inspiration not in Karl Marx, but in mainstream American political philosophy. How we tax the rich depends on why we tax the rich, and AOC’s proposal reflects a surprisingly moderate view of economic justice.
Robert Reich explains why the growing federal debt enriches Wall St. bankers and wealthy Americans.
AOC’s advocacy of a tax rate of 70-80 percent on very high incomes, is obviously crazy, right? Who thinks that makes sense? Only ignorant people like - Peter Diamond, Nobel laureate in economics, arguably the world’s leading expert on public finance
Reader Comments: Impeachment; Alexandria Ocasio-Cortez - Returning to a 70% Marginal Tax Rate; TSA Agents Call-In Sick and the Right to Strike (Not); New Attack on Civil Rights Icon Angela Davis, Jews, BDS and Anti-Semitism; and so much more.....
Some studies indicate she’s aiming too low.
Reports on the Mass Uprising Over France's Gas Tax Hike
The three wealthiest families in the U.S.—the Waltons (Walmart), the Kochs, and the Mars—have seen their wealth increase nearly 6,000% just in the past generation. Median household wealth over the same period went down by 3%.
Undocumented workers fund public schools and local government services by paying sales and property taxes like everyone, estimated to be $11.7 billion a year. In 2013, they contributed $13 billion per year to the Social Security retirement trust fund
The New York Times expose is “unprecedented in scope and precision.” And it shows in vivid detail how egregious the Trump family's tax cheating was – not chiseling here and there, but gigantic lies to escape lawful burdens.
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