Our Tax History Holds the Key to a Fairer System
New research shows that average tax rates for big earners have dropped precipitously since the middle of last century.
President Donald Trump frequently points to Ronald Reagan’s 1986 tax reform as a model for his own tax plan, which would drastically cut taxes on the wealthiest Americans. “Under this pro-America system,” Trump said in an August speech in Missouri, “our economy boomed. It just went beautifully — right through the roof.”
We were Senate staffers for Democrats back in 1986. There’s a lot about the Reagan reform that today’s Republicans appear to be forgetting. Indeed, what’s being proposed now is far, far friendlier to the rich and big corporations — and more harmful for everyone else.
Read the full article at TIME.
Lee Price is a former Chief Economist of the House Appropriations Committee; Steve Quick is a former Chief Risk officer at Federal Deposit Insurance Corporation and Chief Economist for the Joint Economic Committee; both are Associate Fellows at the Institute for Policy Studies.
by William Rice
/by Zachary Tashman
New research shows that average tax rates for big earners have dropped precipitously since the middle of last century.
by Portia Allen-Kyle
A new report exposes how for-profit tax preparation companies target Black and working-class communities.
by Erica Payne
Patriotic Millionaires Founder and President Erica Payne called for increased taxes on the wealthy in a speech at a United Nations special meeting.
Inequality.org
→ In Your Inbox
Get the indispensable guide to the latest on our unequal world, in your inbox every Wednesday.
You can unsubscribe any time. We do not sell or share your information with others.
Click to close
Inequality.org
→ In Your Inbox
Get the indispensable guide to the latest on our unequal world, in your inbox every Wednesday.
You can unsubscribe any time. We do not sell or share your information with others.
Click to close
Inequality.org
→ In Your Inbox
Get the indispensable guide to the latest on our unequal world, in your inbox every Wednesday.
You can unsubscribe any time. We do not sell or share your information with others.
Click to close
Inequality.org
→ In Your Inbox
Get the indispensable guide to the latest on our unequal world, in your inbox every Wednesday.
You can unsubscribe any time. We do not sell or share your information with others.
Click to close
Inequality.org
→ In Your Inbox
Get the indispensable guide to the latest on our unequal world, in your inbox every Wednesday.
You can unsubscribe any time. We do not sell or share your information with others.
Click to close