France has announced a massive redistributive tax program which would send the top tax rate soaring and increase taxes broadly on the top 10% of society.
|By: David Dayen Monday July 23, 2012 2:10 pm|
The Tax Justice Network came out with a study over the weekend alleging that between $21 and $32 trillion in global wealth is being hidden away in tax havens. This represents a sum equal to the GDP of the US and Japanese economces combined. Former McKinsey and Co. chief economist James Henry oversaw the TJN study.
|By: David Dayen Monday September 19, 2011 7:30 am|
President Obama is scheduled to speak this morning at 10:30 a.m. Eastern, to spell out his debt reduction plan. Some details from Obama’s plan to “go big” on the Super Committee are out, and it’s an opening bid that is far less pre-compromised than we’ve come to expect.
|By: David Dayen Monday August 15, 2011 9:00 am|
Tax policy that favors the rich has an enormous impact on public policy, with everything run through corporate and wealthy elites. In an impressive rant, Steven Pearlstein shows how this worked, with the rich creating the conservative monster and financing the radical movement which has relentlessly pushed the economy to the brink of disaster. So there’s definitely value in progressive taxation, even if that may not be true at this particular point in time. And when forced to choose between progressive taxation and spending cuts, it’s really no contest.
|By: David Dayen Tuesday April 19, 2011 9:35 am|
Of the sixteen members asked by the White House to attend the Blair House meeting, Congressional leaders have offered four.
|By: David Dayen Thursday December 2, 2010 1:00 pm|
The House passed their tax bill, with the permanent extension on only the first $250,000 of income. The vote was 234-188, with 3 Republicans actually supporting, and 20 Democrats opposed.
It’s good that Pelosi managed to pass this bill procedurally speaking, and it will be a nice vote for 2012. But it could have been done in 2010 with no harm, too. Anyway, the Senate’s not touching this, so don’t expect it to become law.
|By: David Dayen Thursday November 18, 2010 2:47 pm|
Social Security benefits are, on average, extremely low. They are not a sufficient replacement for prior earnings, and they aren’t really enough for subsistence living absent other sources of income. Cutting that meager benefit is simply the wrong path and will send many seniors into abject poverty.