Thigpenn says the path forward means reversing public spending priorities that direct resources away from low-income communities — priorities that create tax structure that makes low-income communities in California scramble to fund schools.
With fortunes inflated by corporate welfare, wealthy real estate owners can afford to cancel housing-related expenses and debts for millions of struggling American families.
Some problems can only be solved when public officials have the resources to act. Today’s public health crisis is that kind of problem. The current disaster threatens our health and our economy.
How changes to California’s Proposition 13 could reduce inequality.
The national debt today stands at $15.7 trillion. Two decisions made since 2000 — tax cuts and America’s wars since September 11, 2001 — together account for roughly two-thirds of that amount.
Nice "trickle-down economics" you've got there.
Essentially, the only thing that seems to qualify as “highly visible in the data” regarding corporate rate cuts is that they send a lot of money to the top of the income distribution.
Policymakers who are sincere about boosting wages would heed the advice of Mishel and Eisenbrey (2015), and undertake policy measures to redistribute economic leverage and bargaining power away from capital owners and corporate managers and back to low- and middle-wage workers.
Corporations are stashing billions of dollars offshore to avoid paying taxes.
Microsoft Corp. is currently sitting on almost $29.6 billion it would owe in U.S. taxes if it repatriated the $92.9 billion of earnings it is keeping offshore, according to disclosures in the company's most recent annual filings with the Securities and Exchange Commission. Such maneuvers -- although often legal -- threaten to signficantly reduce U.S. corporate tax receipts during an era marked by government budget deficits.
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