How momentum is growing to tax the rich and reduce inequality

In the middle of the last century, there was a large and secure working class. Then, changes to the tax structure distributed more and more of the wealth to the richest and hollowed out the middle class. Now, levels of inequality in the United States are unsustainable as the top one-tenth of one percent (0.1%) has wealth equal to the …

The IRS Tried to Take on the Ultrawealthy 10 Years Ago. It Didn’t Go Well.

Ten years ago, the tax agency formed a special team to unravel the complex tax-lowering strategies of the nation’s wealthiest people. But with big money — and Congress — arrayed against the team, it never had a chance. by Jesse Eisinger and Paul Kiel in ProPublica,  April 5, 2019  GUTTING THE IRS Who Wins When a Crucial Agency Is Defunded. ProPublica is a nonprofit newsroom based …

A coalition of over a dozen progressive advocacy groups launched a nationwide “Tax the Rich” campaign Wednesday with the goal of building a grassroots movement to unrig the tax code and make wealthy Americans pay their fair share

A coalition of over a dozen progressive advocacy groups launched a nationwide “Tax the Rich” campaign Wednesday with the goal of building a grassroots movement to unrig the tax code and make wealthy Americans pay their fair share. ‘Tax the Rich. It’s Just That Simple’: US Campaign Aims to Make Wealthy Pay Their Fair Share, by Jake Johnson, Common Dreams, April 03, 2019 “Taxing the …

Wealth and financial transition taxes can help finance the shifts we need

Politicians on the left are thinking big on tax reform: a 70 percent rate on incomes over $10 million, a wealth tax on the super-rich, estate taxes as high as 77 percent.   In December 2018 when the CBO released its list of options for cutting the federal deficit it looked at a financial transactions tax, “FTT” for short. The United States had one from 1914 until 1965; it could …

What States Can Do to Reduce Poverty and Inequality through Tax Policy

What States Can Do to Reduce Poverty and Inequality through Tax Policy, Sarah Anderson and Chuck Collins, Inequality.org March 4, 2019 States have an opportunity to act to close the loopholes that hide and protect the wealth of the top 1%, remedy the impact of the new federal tax law that lowers taxes on the wealthy, and make critical investments in …

Taxing Wall Street Transactions – $1 on a $1000 trade

Progressive Tax Takes Aim at Wall Street Transactions, Financial Crashes, Eoin Higgins, Common Dreams, March 05, 2019  National Nurses United for an International Day of Action, Lafayette Square, Washington, D.C. (Photo: Flickr Glyn Lowe Photo Works, @glynlowe). Democrats on Tuesday proposed a tax on Wall Street transactions which could stop another financial crash and bring in $777 billion over the next decade.  “The …

Re-imagining governance. We must insist on representatives who will share governing power. Co-governance means that elected officials are actively working with our communities—not corporate lobbyists—to draft policies and to move them forward together. 

Whom candidates surround themselves with and listen to is crucial. Progressives should look at the structure of candidates’ campaigns: Who is funding them? Who are their advisors? Are they investing in real conversations with voters? We must insist on representatives who will share governing power. Co-governance means that elected officials are actively working with our communities—not corporate lobbyists—to draft policies …

The Economy for the Common Good: A Workable, Transformative Ethics-Based Alternative, by Christian Felber

By Christian Felber, Vienna University of Economics and Business and Gus Hagelberg, Coordinator for International Expansion of the ECG more, February 27, 2017,  MONEY & BANKING, DEMOCRACY & GOVERNANCE This paper by Christian Felber and Gus Hagelberg, published alongside three others, is one of many proposals for a systemic alternative we have published or will be publishing here at the Next System Project. You can read it …