Colombia’s new president has just placed a bet on greater equality. His nation’s rich can’t see him collecting.
Barre Seid’s record-breaking $1.6 billion donation to the Marble Freedom Trust boosts right-wing advocacy efforts. This kind of dark money giving allows multi-millionaires to buy influence and set the public agenda — avoiding taxes in the process.
This provision of the Inflation Reduction Act will discourage corporations from siphoning resources from worker wages and productive investments for share repurchases that inflate CEO pay.
An Institute for Policy Studies analysis of the progressive tax proposed by incoming Colombian President Gustavo Petro would impact a small percentage of the nation's wealthiest while raising millions to address widening inequality.