Economic Policy Institute

Any serious policy agenda geared towards combating inequality and raising living standards for the vast majority must look to ultra-high earners in the top 0.1 percent, who wield disproportionate economic and political power. The Economic Policy Institute and the Institute for Policy Studies held a day-long conference on Taxing the (Very) Rich with tax policy experts, activists, advocates, organizers, and …

There are basically only four ways to accumulate a billion dollars – and none of them is a product of so-called free market capitalism. The real failure is in how our economy is organized.

There are basically only four ways to accumulate a billion dollars – and none of them is a product of so-called free market capitalism. Billionaires themselves aren’t the problem. The real failure is in how our economy is organized. The way to fix it is getting rid of monopolies, stopping the use of insider information, preventing the rich from buying …

Erasing all student loans would boost the economy by about $100 billion a year for at least 10 years, yielding lower unemployment rates, increased spending, and more

By Astra Taylor, at Common Dreams, July 2019 Every class winds up deeper in debt than the last, with racial minorities and women hardest hit. (Photo: Getty) On Monday morning, I gathered with other members of the Debt Collective in Washington DC to endorse the College for All Act of 2019. Sponsored by Reps. Ilhan Omar, Pramila Jayapal, and Sen. Bernie Sanders, the …

Ending Special Tax Treatment for the Very Wealthy

By Alexandra Thornton and Galen Hendricks, Center for American Progress, June 4, 2019 Getty/Nicholas Pfosi A massive yacht with a helicopter and helipad is pictured in Boston Harbor, July 2017. OVERVIEWThe U.S. tax system has played a significant role in the growth of economic inequality by failing to tax those with extreme wealth—but there are ways to rebalance the tax code and put …

Offshore tax havens are enabling world’s richest 0.01 percent to evade 25 percent of the income taxes they ought to be paying. Holdings of the wealthiest one-hundredth of 1 percent make up 50% of assets in tax havens

Excerpt, June 2019, Institute for Policy Studies A simple reality of our deeply unequal age: Extravagantly wealthy people cheat on their taxes. Regularly. Extravagantly, too. Our super rich are stashing vast chunks of their personal fortunes in offshore tax havens, generating billions annually in new income that — to their governments — goes unseen and untaxed. Just how enormous has …

Fossil fuel subsidies – May 2019 report

The IMF paper on “Global Fossil Fuel Subsidies” finds that the world is wasting 6.5% of global GDP — US$5.2 trillion per year — subsidising dirty energy through direct subsidies, tax breaks, or non-internalisation of externalities. Coal remains the largest recipient of these explicit or implicit subsidies, despite being the most polluting. The second paper, on “Fiscal Policies for Paris …

5 important questions about carbon taxes, answered

A carbon tax can lower emissions, but it needs to be pretty damn high. By David Roberts@drvoxdavid@vox.com  Updated Oct 18, 2018 Shutterstock Carbon taxes are in the news these days. In recent months, not one but two conservative national carbon tax proposals have emerged, disrupting the usual partisan dynamic on climate policy. First there was the proposal from the Climate Leadership Council, a group …

$3.5 billion in direct fossil fuel subsidies handed out by US govt every year, not to mention billions in indirect subsidies, like allowing fossil fuel companies to freely pollute the world’s atmosphere and oceans, endangering life on Earth as we know it, without paying a dime

$3.5 billion in direct fossil fuel subsidies handed out by US govt every year, not to mention billions in indirect subsidies, like allowing fossil fuel companies to freely pollute the world’s atmosphere and oceans, endangering life on Earth as we know it, without paying a dime Who’s Behind The War On Electric Cars? May 17th, 2019 by Steve Hanley on Clean Technica If you …