Felix Salmon enters this debate with an excellent recap of a study showing labor’s long decline in America.
|By: David Dayen Wednesday September 26, 2012 2:55 pm|
|By: David Dayen Thursday July 19, 2012 6:20 pm|
$28 billion. That’s the difference, in 2013, between the Democratic and Republican tax plans on the Bush tax cuts, which shows the narrowness of the debate.
Republicans want to extend all the Bush tax cuts permanently. Democrats have countered with a bill that would extend the tax cuts only on the first $250,000 of income for one year.
|By: Scarecrow Friday May 18, 2012 6:00 am|
I suspect Chuck Schumer is pulling a fast one on us. After all, it doesn’t make sense to be upset that some selfish rich kid who came from another country would feel no particular loyalty to America, while we look the other way as millions of wealthy Americans and US-based corporations do everything they can to shield their income and evade US taxes while still enjoying all the benefits of US citizenship.
|By: James K. Galbraith Sunday January 29, 2012 1:59 pm|
The Benefit and the Burden begins with a short history of American taxation and a description of the core issues in the definition of income. It follows with some discussion of the principal economic arguments that have flowed around the relationship between taxes, growth and fairness, and then proceeds to examine the issues surrounding preferences in our tax code – for housing, for charitable contributions, for capital gains, and the problem of taxing corporate profits. It ends with a discussion of reform proposals, and Bruce makes his case for a VAT to close the revenue gap and fund the government that we will need, among other things, to support an increasingly elderly population.
|By: Jon Walker Monday November 21, 2011 12:00 pm|
An article in Forbes reveals those at the top 0.1 percent in personal income in the country captured about half of the capital gains, which are currently taxed at just 15 percent. That makes this a prime mechanism for creating and increasing income inequality.
|By: David Dayen Monday September 12, 2011 4:00 pm|
The biggest reason why you would want to use higher taxes on the rich and the nation’s largest corporations if you’re going to pay for stimulative job-creation measures is not just because these would be the least disruptive offsets for an economy waiting to heal. Just as high on the list is the fact that low taxes on the ultra-rich distorts the economy and makes future growth nearly impossible.
A perfect example of this comes from the Washington Post’s salutary article today on capital gains taxes. This is something that hardly even gets talked about anymore, but it’s at the heart of at least one of the pay-fors on the White House’s list, the carried interest loophole. The only reason that hedge fund managers are paying drastically lower tax rates is because the taxes on their capital gains, which they are calling their entire income, is drastically lower than the income tax. And this has produced massive inequality, pushed along by the rich contributors of politicians in both parties.
|By: masaccio Monday September 12, 2011 12:20 pm|
In the New York Times Economists Bowl, I call it Princeton 2, Harvard 0.
|By: Ruth Calvo Wednesday August 17, 2011 11:01 am|
When the leaders of France and Britain got together yesterday, they were facing realities that are not kind to the European community’s economic future. That they suggested what is bound to stir a lot of bad feelings among the banksters, a tax on financial transactions, shows vision that we desperately need. The U.S. would be in much better shape for the future if there were even the slimmest prospect that such a concept could be floated here.
|By: David Dayen Wednesday March 2, 2011 7:02 am|
The reality of Scott Walker’s two-year budget is setting in, and people have begun to connect the dots.
|By: David Dayen Monday December 6, 2010 2:40 pm|
I don’t think we should jump on this fully until we see a full solution. But enough of the usual suspects have signaled that a tax cut deal is imminent, with the same broad contours, that we should take a look at the particulars. Here’s Jon Ward (although others have corroborated): The deal will extend [...]