Taxes

‘Tax March’ Launches New ‘Tax The Rich’ Campaign To Build Grassroots Support

April 4, 2019 Staff, Taxmarch.org Create! Ruling Class, Taxes

WASHINGTON, D.C. — Today, Tax March announced its new “Tax the Rich” project, an effort to educate the American people and policymakers about taxing the rich and advocate for raising taxes on the country’s wealthiest individuals and most profitable corporations. The seven-figure campaign, led by Tax March and coordinated in partnership with more than a dozen progressive organizations, seeks to build upon the current momentum around taxation in a way that empowers voters, elected leaders, and activists to advocate for taxing the rich.

Wall Street Mini-Tax Could Raise Maxi Revenue

March 14, 2019 Ronald M. Glassman and Gerald E. Scorse, Dissidentvoice.org Create! New Economy, Taxes, Wall Street

With great fanfare, politicians on the left are thinking big on tax reform: a 70 percent rate on incomes over $10 million, a wealth tax on the super-rich, estate taxes as high as 77 percent. With no fanfare at all, the nonpartisan Congressional Budget Office (CBO) has made the case for thinking small. According to the CBO, a mini-tax on sales of stocks, bonds and other holdings could boost revenues by scores of billions a year. The estimate came in December 2018 when the CBO released its list of optionsfor cutting the federal deficit.

Israel’s Freezing Of Palestinian Tax Funds “Collective Punishment”

March 5, 2019 Maureen Clare Murphy, Electronicintifada.net Educate! Israel, Palestine, Taxes

Israel’s freezing of millions of dollars in Palestinian tax revenue will cause the dire situation in Gaza to deteriorate even further, Al Mezan, a human rights group in the territory, warned on Monday. Thousands of civil servants in the coastal enclave, its population of two million plunged into poverty after more than a decade of economic blockade, have already had to contend with salary cuts and late payments due to “discrimination” by the Palestinian Authority in the West Bank. Now Israel is planning to withhold some $138 million in taxes it collects on behalf of the PA as a form of sanctions over stipends to political prisoners.

What States Can Do to Reduce Poverty And Inequality Through Tax Policy

March 4, 2019 By Sarah Anderson and Chuck Collins, Inequality.org Strategize! Inequality, New Economy, Policy, Poverty, Taxes

States have an opportunity to act to close the loopholes that hide and protect the wealth of the top 1%, remedy the impact of the new federal tax law that lowers taxes on the wealthy, and make critical investments in infrastructure, energy systems, and programs that create broader opportunity and shared prosperity. Concentrations of wealth are distorting our economy and undermining our democracy and civic health. State administrations and state legislatures can act to close the loopholes, put a brake on economic inequality and concentrations of wealth, and generate significant revenue.

What States Can Do To Reduce Poverty And Inequality Through Tax Policy

February 26, 2019 By Sarah Anderson and Chuck Collins, Inequality.org Create! Inequality, Poverty, Taxes

The Bill And Melinda Gates’ Fair Taxation Scaremongering Tour

February 23, 2019 Chris Orlet, Counterpunch.org Educate! Ruling Class, Taxes

Billionaire philanthropists Bill and Melinda Gates, appearing recently on The Late Show with Stephen Colbert, said a number of things that made Colbert’s liberal audience squeal with delight. When told that the very existence of billionaires was a signal that capitalism doesn’t work for the many, and that Alexandria Ocasio-Cortez had mused that America could do without billionaires, the Gates laughed politely and talked vaguely and approvingly of raising taxes on the ultra-wealthy. To those who are given much, much is expected, Melinda Gates said.

Have The Rich Always Laughed Stiff Tax Rates Away?

February 19, 2019 By Sam Pizzigati, Inequality.org Educate! New Economy, Ruling Class, Taxes

The guardians of our conventional wisdom on taxing the rich have messed up — and they know it. They slacked off. They started believing their own tripe. Average Americans, they assumed, would never ever smile on proposals to raise tax rates on the richest among us. After all, the conventional wisdom maintains, those average folks figure that someday they’ll be rich, too. But now, with tax-the-rich proposals proliferating and polling spectacularly well, the keepers of our bless-the-rich faith are panicking. Their old rhetorical zingers no longer zing.

Amazon Won’t Pay A Dime In Federal Taxes This Year

February 18, 2019 By Jacob Sugarman, Truthdig.com Educate! Amazon, Jeff Bezos, Ruling Class, Taxes

Amazon won’t pay a dime in federal taxes this year—just as it didn’t pay a dime in federal taxes the year before. According to a new report from the Institute on Taxation and Economic Policy (ITEP), which examined Amazon’s public filings, the online retailer reported a $129 million federal income tax rebate for 2018—good for a tax rate of negative 1 percent, or 22 percent below the federal corporate income tax rate. Amazon’s profits this year were $11.2 billion versus $5.6 billion in 2017. As of last September, the company was valued at over $1 trillion.

Seriously Taxing The Rich Will Take ‘Guts’ — And More

February 14, 2019 By Sam Pizzigati, Inequality.org Strategize! New Economy, Ruling Class, Taxes

Jan Schakowsky doesn’t need to apologize for anything. This veteran member of Congress from Illinois has a record second to none on issues that matter to working people. Over the course of her 20 years on Capitol Hill, Schakowsky has introduced much more than her share of innovative legislation, bills like her Patriot Corporations of America Act, a measure designed to give companies that pay their top execs only modestly more than their workers a better shot at winning government contracts.

Self Employment: An Effective Path For War Tax Refusal

February 11, 2019 Staff, Nwtrcc.org Resist! Employment, Labor, Taxes

This publication is one of a series of “practicals” that offer ideas, tips, and information for individuals who want to cut off their financial support for the U.S. war machine or are currently practicing war tax resistance. The full list of the “Practical Series” appears at the end of the text along with other relevant resources. Since the 1940s, the U.S. government and the Internal Revenue Service (IRS) have effectively enrolled employers in the tax collection system through payroll withholding, mandatory reporting, and salary levies. While the U.S. tax system is called “voluntary,” each year it seems more difficult to prevent assessment and collection of taxes, particularly for people who work for wages and salaries.

With Alexandria Ocasio-Cortez, Americans Finally Have A Politician Who Agrees With Them About Taxes

January 26, 2019 By Jon Schwarz, Theintercept.com Educate! Alexandria Ocasio-Cortez, Electoral Politics, New Economy, Taxes

MUCH OF THE U.S. political system was flummoxed two weeks ago when a brand new 29-year-old congressperson made a seemingly radical proposal on “60 Minutes.” Here’s what Rep. Alexandria Ocasio-Cortez, D-N.Y., said that wound everyone up: The U.S. should tax income over $10 million per year at a top rate of 60 or 70 percent. Republicans responded by shamelessly lying about what this meant, pretending that Ocasio-Cortez was advocating a tax rate of 70 percent on all income. Some older Democrats, such as House Majority Leader Steny Hoyer and former Senate Majority Leader Harry Reid, adopted the standard Democratic tactic of cowering in fear before a deceptive Republican onslaught, like abused dogs.

Alexandria Ocasio-Cortez’s Tax Proposal Could Raise $720 Billion Over The Next 10 Years

January 15, 2019 Ruth Milka, Nationofchange.org Educate! Electoral Politics, Liberals, Reform, Revisionism, Taxes

Such a high tax rate is not unheard of and higher rates used to be the norm during a large portion of the 20th century. Why was this the case? Because higher tax rates on the wealthy generated huge revenue. As Alexandra Ocasio-Cortez proposes, the revenue from raising taxes on the wealthy could be spent to fund the Green New Deal, a proposal that would implement radical policy in order to eliminate fossil fuels and carbon emissions within the next 12 years. Prior to the 1980s, when President Ronald Reagan slashed tax rates for the wealthiest, the tax rate for any taxpayer that made more than $216,000 a year was 70 percent.

Tax The Rich? History Proves Alexandria Ocasio-Cortez May Be Correct

January 12, 2019 By David Schultz, Counterpunch.org Create! Electoral Politics, New Economy, Reform, Taxes

Taxes impede economic growth and high taxes kill the economy, right?. This is the belief among many who criticize Representative Alexandria Ocasio-Cortez’s proposal to raise taxes on the wealthy to 70% or more. But what does the evidence really tell us? Do high taxes really hurt the economy as much as they believe, and will lowering them have much of an impact on stimulating it? The economic literature is clear — tax breaks to encourage economic relocation or investment decisions are inefficient and wasteful. Hundreds of studies reach this conclusion. When businesses are surveyed regarding factors important to their investment decisions, taxes often come in behind proximity to markets, suppliers, and the quality of the labor force.

Sweden Has A 70 Percent Tax Rate And It Is Fine

January 9, 2019 Matt Bruenig, Peoplespolicyproject.org Educate! New Economy, Sweden, Taxes

Alexandria Ocasio-Cortez recently suggested raising the top tax rate to 70 percent in order to raise money to fund climate change investments. Conservatives were dismayed by the proposal while liberals and leftists generally defended the proposal by pointing to the fact that top tax rates in the US were once 91 percent and by pointing to tax scholarship that says rates that high (or even higher) are optimal. One thing missing from the discussion so far is the point that a 70 percent top tax rate exists, not merely in midcentury US tax codes or in academic papers, but also in the real world right now. Sweden has a 70 percent marginal tax rate and it kicks in, not at $10 million like AOC proposes, but at around $98,000. AOC’s proposal is quite modest by comparison.

Act Eight: Police Block Gilets Jaunes From National Assembly

January 6, 2019 Telesur. Resist! France, Gilets Jaunes, Taxes

Paris, France - Clashes erupted between yellow vest protesters and French police as demonstrators got closer to the National Assembly Saturday, on their 8th mobilization, dubbed Act VIII. Dwindling numbers during the holidays generated fears that the movement had waned, but after dinners and family gatherings, the people of France have retaken the streets. Only in Paris, 103 people have been arrested, according to police reports. Protesters gathered in several points in Paris to later march to the National Assembly. As people gathered in the Champs-Elysees and the historic stock exchange, demonstrators called for Macron’s resignation and warned him the mobilization is not a revolt, “it’s the revolution.”

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