The new Obama budget for 2013 advances a vision for a significantly more progressive tax code. But that vision, if realized, would still not restore all the tax progressivity lost since the early 1980s.
President Obama has proposed a specific new minimum tax rate for millionaires. Should America’s rich feel angry or relieved? We check the IRS tax data archives for an answer.
The rich don’t much like paying taxes when tax rates run high. They don’t much like paying taxes when tax rates run low either.
Today’s super rich can’t turn tin into gold. But they can get Uncle Sam to loan them free money. At the expense, of course, of America’s bottom 99 percent.
A conservative U.S. senator has released a new study on federal giveaways to America’s rich. Our plutocrats won’t like it. But the indictment misses the biggest handout of them all.
In this TEDxHampshireCollege talk, Chuck Collins, the director of the IPS Program on Inequality and the Common Good, discusses an economic and moral rationale for increasing taxes on the wealthy.
Students of modest means must pay a stiff price to build their capacity to contribute to society — and pay interest if they can’t afford that price. A wealth tax could apply this same principle to America’s rich.
One luxury automaker is betting big that America’s affluent feel no responsibility to the greater society crumbling all around them.
Some of America’s most flush corporations are demanding a tax holiday on their profits sitting offshore. In 2004, 58 corporations that benefited from a holiday slashed a total of nearly 600,000 jobs through layoffs while they collectively saved $64 billion from what they otherwise would have owed in taxes.
Some of America’s most flush corporations are demanding a tax holiday on their profits sitting offshore. But the last holiday produced a nasty hangover. After the 2004 tax holiday, a new report documents, 58 major companies that benefited from the holiday shed almost 600,000 workers.