Taxes

Cartoon of the day

Published by Anonymous (not verified) on Tue, 20/02/2018 - 11:33pm in

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Special mention

20180212edsuc-a  FellP20180216_low

Tax Astroturf: The B-Team Lowers the Bar for Tax Transparency

Published by Anonymous (not verified) on Tue, 20/02/2018 - 6:39pm in

Quelle surprise! The B Team, a supposed top group for "responsible business," punts on tax transparency.

What About the New Tax Law?

Published by Anonymous (not verified) on Thu, 08/02/2018 - 4:15am in

Tags 

Tax Cuts, Taxes


New Event from the Susquehanna Progressives. Drop by if you're around the area. Info below.
"As activists we need to understand the history of US tax policies, how they have changed since the 50's and why, the affect on our social fabric and what the new tax bill will mean for the health of our nation (Presentation followed by Q&A)."

Presenter: Matías Vernengo, Professor of Economics, Bucknell University

Thursday, February 22 | 7:00 - 8:30 PM
Community Zone, Market Street in Lewisburg 7-8:30

Cartoon of the day

Published by Anonymous (not verified) on Mon, 29/01/2018 - 11:00pm in

53_205533

Special mention

Wasserman_img  Simanca

Reclaiming the Tax: Foregrounding the Public Covenant

Published by Anonymous (not verified) on Thu, 11/01/2018 - 1:55am in

Rethinking the MMT rhetoric around tax....and implications for policy prescriptions.

Tax Reform’s Higher Purpose

Published by Anonymous (not verified) on Sat, 30/12/2017 - 6:00am in

Tags 

Taxes

Progressive tax reform needs to raise enough revenue to honor our current commitments to Medicare, Medicaid, Social Security, and other social insurance programs, as well as to finance expanded public investments and income supports that ensure opportunity for all. Rising inequality and the threat of “secular stagnation” make a solid foundation for the case that this revenue should be raised progressively, as taxing wealthy households with large savings does not drag heavily on growth of aggregate demand. Net tax cuts for high-income households and corporations won’t help our demand problem. A number of specific progressive measures are available that can raise revenue, many of them included in recent years’ editions of the budget proposals forwarded by the Congressional Progressive Caucus (CPC), with some technical assistance from the Economic Policy Institute.

Mean exchanges

Published by Anonymous (not verified) on Fri, 29/12/2017 - 3:58am in

1-40

Yesterday, I discussed the mean-spiritedness of the Republican tax cuts—which are being sold as a gift to the middle-class but, in reality, represent a massive transfer to a small group of large corporations and wealthy individuals.

But, of course, the real violence associated with the tax-cut gift occurs before federal taxes are even levied, in the pre-tax distribution of income.

As is clear from the chart above, since the mid-1970s, the share of income captured by the top 1 percent (the red line, measured on the right-hand side) has almost doubled, rising from 10.6 percent to over 20 percent. Meanwhile, the share of income going to the middle 40 percent (the blue line, on the left) has eroded, falling from 45.2 percent to 40.4 percent.

But that’s not enough for those at the top. They want even more—and their growing share of the surplus has given them more power to elect the candidates and write the rules to obtain even more income, both before and after taxes.

Meanwhile, many in the languishing middle-class, having given up hope for any improvement in their pre-tax income share, threw in their lot with the Republicans and their promise of tax relief.

They now know that that’s a dead end, too.

The American middle-class continues to lose out, both when they exchange their ability to work for an income in markets and afterwards, when they pay their taxes to the government.

Meanwhile, the tiny group at the top has been able to rig both mechanisms, exchange and taxes, to capture and keep more of the surplus.

Something clearly has to give.

Tagged: 1 percent, exchange, gift, income, inequality, middle-class, taxes, United States, violence

Cartoon: Behind the red white and blue curtain

Published by Anonymous (not verified) on Tue, 26/12/2017 - 11:51pm in

The Republican tax bill — and the way it was passed, in gross violation of democratic norms — resembles the hyper-corruption we typically see in authoritarian kleptocracies. As the cartoon lays out, there are many ways in which the US is moving towards the kind of dystopian state we used to satirize.

It’s not a stretch at all to note these similarities between the authoritarian tactics of the present-day GOP and Russian oligarchs. Yet I’ve noticed a knee-jerk reaction among some readers whenever Russia comes up. Some object because they see concerns about Russian interference in the 2016 elections as somehow overshadowing the fact that America had plenty of problems with its own political system before Russia got involved. To which I respond, duh. This does not obviate the fact that Russia’s efforts were highly effective. If you follow international news, it’s clear that these influence campaigns are a global problem. Of course, this cartoon isn’t even about election interference, except for the panel about Fox spreading BS about the Mueller investigation.

Another hot take that makes me groan is that criticism of Russia in 2017 amounts to “red-baiting” or McCarthyism. These people have their heads stuck up a 20th-century butt. (Don’t think about that too hard.) You see, in 1950s America, the McCarthyites were the people in power. They persecuted essentially powerless actors and writers for having political sympathies largely imagined. Today’s America is a completely different context. The people in power — virtually unchecked power, mind you — are the ones colluding with a repressive, right-wing traditionalist, crony capitalist Russia. If anything, they are the neo-McCarthyites, quashing dissent by charging peaceful protesters with felony rioting, infiltrating leftist activist organizations, and implying entire demographic groups are criminals or terrorists.

Follow Jen on Twitter at @JenSorensen

Trump Everlasting

Published by Anonymous (not verified) on Sun, 24/12/2017 - 12:46am in

I’m glad I’m not a journalist. I don’t think I could handle the whiplash of the ever-changing story line, the way a grand historical narrative gets revised, day to day, the way it seems to change, week to week, often on a dime. Or a $1.5 trillion tax cut.

In my Guardian digest this week, I deal with the media’s memory, taxes, the state of the GOP, judges, sexual harassment, and leave you at the end with my assessment of where we are.

Here’s a preview:

Last week, after the victory of Democrat Doug Jones in Alabama’s senatorial election, the media began reporting that the Republican party was facing an epic disaster. Citing insider talk of a “political earthquake” and a “party in turmoil,” the Washington Post anticipated a Democratic takeover of Congress in 2018.

A year that began with dark premonitions of a fascist seizure of power, an autocrat’s total control of the state, seemed ready to end with sunny predictions of the Republican party losing one branch of the federal government to the opposition and a stalled right-wing agenda in Congress.

One week later, after the victory of the Republican tax cut, the media has changed its tune.

Like Trump, George W Bush lost the popular vote in 2000. Unlike Trump, Bush only won the Electoral College because of the US supreme court. Despite that added spice of illegitimacy, despite having smaller majorities in both houses of Congress (razor-thin in the Senate, almost razor-thin in the House), Bush still managed to push through massive tax cuts – and, unlike Trump, got 40 Democrats to vote with him. A full six months sooner than Trump did.

Cutting taxes is in the Republican DNA. Even an idiot can do it.

So that’s how we end 2017: on the one hand, a declining movement of the right, increasingly unpopular with the voters, trying to claim a long-term hold on power through the least democratic branch of government.

On the other hand, a rising movement of women and the left, trying to topple ancient and middle-aged injustices, one nasty man at a time.

You can continue reading here.

Larry Summers: Reagan’s Tax Plan Was Better Than Trump’s

Summers on inequality, the GOP tax plan, and US economic prospects.

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