France Calls for Top Marginal Tax Rate of 75%

By: Friday September 28, 2012 7:12 pm

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.

 

Report Details $21-$32 Trillion in Untaxed Global Wealth Parked Offshore

By: 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.

Obama Debt Reduction Plan a Sharp Pullback from Grand Bargain Territory

By: 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.

Warren Buffett Makes the Case for Progressive Taxation

By: 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.

What If Biden Held a Deficit Meeting and Nobody Came?

By: 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.

House Passes “Middle Class” Tax Cut Extension: Did Dems Plan to Let Any of Them Expire in the First Place?

By: 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.

Progressive-Price Indexing Damages Middle-Class, Puts Social Security at Risk

By: 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.

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