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Virtually every state tax system is fundamentally unfair, taking a much greater share of income from low- and middle-income families than from wealthy families. The absence of a graduated personal income tax and over-reliance on consumption taxes exacerbate this problem.
How will pay for high-quality transportation infrastructure, including roads, trains, bicycles, planes and other multimodal forms of transportation. Here are three under-reported infrastructure privatization issues we need to pay attention to. First, who actually benefits from and pays for infrastructure? Second, how are opinion makers talking about privatized infrastructure? Third, what is the quality of the process used to build large infrastructure projects?
Congressional Progressive Caucus urged members to reject the so-called Cromnibus if a provision which helps big banks trade derivatives in units backstopped by a government guarantee remained in the spending measure. This kind of activity was a cause of the 2008 crisis - it a giveaway to wealthy campaign donors and Wall Street banks. Analysis for more information about key takeaways from the proposed spending bill, as well as a few controversial surprises.
People in the U.S. and around the world are being rapidly divided into two classes, the well-to-do and the lower-income majority. This severing of society will change only when progressive thinkers (and doers) agree on a single, manageable solution that will stop the easy flow of wealth to the privileged few.
Microsoft Corp. is currently sitting on almost $29.6 billion it would owe in U.S. taxes if it repatriated the $92.9 billion of earnings it is keeping offshore, according to disclosures in the company's most recent annual filings with the Securities and Exchange Commission. Such maneuvers -- although often legal -- threaten to signficantly reduce U.S. corporate tax receipts during an era marked by government budget deficits.
Chye-Ching Huang
Center on Budget and Policy Priorities
The recent surge in interest in inversion transactions is explained primarily by U.S. based multinational firms’ increasingly desperate efforts to find a use for their stockpiles of offshore cash (now totaling around $1 trillion).
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