Occupy Wall Street
For Economists Saez and Piketty, the Buffett Rule Is Just a Start
Emmanuel Saez and Thomas Piketty have spent the last decade tracking the incomes of the poor, the middle class and the rich in countries across the world. More than anything else, their work shows that the top earners in the United States have taken a bigger and bigger share of overall income over the last three decades, with inequality nearly as acute as it was before the Great Depression.
The Case for Raising Top Tax Rates
A new understanding of the economics of taxation - For 30 years, any proposal to raise taxes had to overcome an unshakable belief that higher taxes inevitably led to less growth. The belief survived the Clinton administration, when taxes rose and the economy surged. It survived George W. Bush s administration, when taxes were cut yet growth sagged. But now, a growing body of research suggests not only that the government could raise much more revenue by sharply raising the top tax rates paid by the richest Americans, but it could do so without slowing economic growth. Top tax rates could go as high as 80 percent or more.
Why the super-rich love the UK
According to the Socialist Worker, if you earn 150,000 a year, you are rich. But in the rarefied world of serious money, you are not super-rich until you have at least 100m. - and UK tax policy caters to the Super Rich -- UK has a gigantic sign hanging over it saying, "Rich People! Come and Live Here! You Won't Have to Pay Any Tax!" It is an extraordinary policy for any developed nation, and not one that anyone else has been tempted to adopt.
Why the Rich Keep Getting Richer
Mitt Romney, who wants talk of income inequality confined to "quiet rooms," admits he's spent the last decade living mostly on investments and paying less than half the taxes that would apply to a salary, just one more example of why the rich keep getting richer, as Bill Moyers and Michael Winship observe
Romney’s tax plan would slash revenue, reward the wealthy
Assuming the Bush tax cuts did expire, Romney's plan would deliver an average tax cut of almost $300,000 to households making more than $1 million, according to Gleckman. Taxpayers who make more than $1 million currently pay about 20% of all federal taxes, Gleckman said. Under Romney s plan, they d get more than 28% of the cuts. Those making $50,000 to $75,000 would have their taxes cut about $1,800..
Occupy the tax code: why taxing the rich will make the economy soar
The Corporations That Occupy Congress
The Collapse of the Anti-tax Movement: OWS Paves the Way — Cuomo Leads the Way
December has brought a sea-change to American politics. The absolutist anti-tax message embraced by Republicans and Democrats alike has begun to collapse, beginning in New York. And it spite of what you hear in the loonier moments of Republican Presidential debates, it's a bipartisan change. Over the past week Republican and Democratic officials in Albany have forged a consensus to enact a millionaire's tax, cut middle class taxes and fund government services.
6 Big Economic Myths, Debunked
When you turn on the TV, all you hear are the same pack of talking heads delivering the same manufactured economic sound bites: taxing the rich kills jobs, the stimulus failed, the defecit is out of control. These zombie talking points aren't just wrong; they're dangerous. If we're ever going to revive the economy, we've got to tackle them head on. Here are six of the worst.