Taxing the Rich: Two Academics Lay Out Options In New Paper

Options to reverse Donald Trump’s $1.4 trillion tax cut and raise taxes on high income earners to ease income inequality and finance pressing needs. The following is Batchelder’s summation of their findings, which she presented on Twitter. You can read the full paper here. In Money Greed Power by KEITH GIRARD SEPTEMBER 12, 2019 BUDGET0 COMMENTS NYU law professors Lily Batchelder …

Wealth That Concentrates Kills

by Sam Pizzigati | Sep 12, 2019 | Economy, Featured, Future of Work, Health, Inequality | 0 comments The weight of the wealth that sits at the top of America’s economic order isn’t just squeezing dollars out of the wallets of average Americans. That concentrated wealth is shearing years off of American lives. The latest evidence for that squeeze on American wallets comes from the Census Bureau. Researchers there have just …

The UBI already exists. It is just unevenly distributed.

By Matt Bruenig, Peoplespolicyproject.org September 6, 2019 | EDUCATE! Max Sawicky has a piece in Jacobin that again repeats the clearly incorrect claim that it would be impossibly expensive to provide everyone in the country a significant cash grant each year. So what’s wrong with the UBI? In a nutshell, if it’s universal, it can’t be basic, and if it’s basic (provides a decent income …

Raising income, fairer taxes and addressing inequality

By Chuck Collins, Otherwords.org Four decades of stagnant wages plus runaway housing and health care costs have clobbered the middle class. In an economy with staggering inequalities — the income and wealth gaps are at their widest level in a century — the middle class shouldn’t be hit up a penny more until the rich pay up. The biggest winners of the last decade, in terms …

In Colorado, TABOR faces a reckoning with Prop. CC. Here’s what you should know about its impact on state spending

Sept. 4, 2019 Colorado Sun In 1992, Colorado voters decided state government should stop growing. But that didn’t stop them from demanding more public services and spending from their elected officials. That’s the tension at the heart of Proposition CC, this November’s ballot measure to eliminate the state’s revenue caps. It’s the single biggest test to the Taxpayer’s Bill of …

Can we tame capitalism by giving everyone a share of Wall Street

An Occupy Wall Street protest in 2011. (Linda Davidson/The Washington Post)By Jeff SteinAugust 20 The economist Giacomo Corneo is a self-proclaimed socialist. A professor at the Free University of Berlin, Corneo is steeped in the writings of Karl Marx and, in conversation, rattles off the beliefs of the founder of communism. The professor works with Germany’s Greens party. But on perhaps …

Billionaires are a sign of social, political, and economic failure

Inherited Wealth And Crony Capitalism Have Created An Aristocratic Class That Undermines Social Mobility And Democracy. A third of wealth is inherited. Another third comes from special access/crony capitalism. Didier Jacobs calculated a few years ago that another third of billionaire wealth comes from crony connections to government and monopoly.  This could be for example when billionaires secure concessions to provide services …

Some Economists Say Carbon Taxes Are a Silver Bullet. The Reality Is More Complicated

Carbon pricing could do a small number of things very well: It could deal a final death blow to coal (the most potent carbon dioxide emitter), which would become prohibitively expensive where it’s not already. It could tip big institutional consumers toward more energy-efficient decisions regarding things like construction materials and vehicle fleets. At the everyday consumer level, it could encourage …