News 

After weeks of criticism, Warren says she will release a plan to pay for Medicare-for-all

“Sanders has not shied away from telling voters they will have to pay higher taxes under a Medicare-for-all plan” writes National Political Reporter for washingtonpost.com. And for virtually everybody, the tax increase they pay will be substantially less than what they were paying for premiums and out-of-pocket expansions.” Warren supports the Medicare-for-all bill unveiled by Sanders.But so far, she’s refused to say taxes will go up for middle-class families, even when asked directly. Source: washingtonpost.com

Read More
News 

A street named for Marca Bristo? How about justice for people with disabilities first?

“Four decades later, the most immediate and salient barrier to liberation for people with disabilities in Chicago is still accessible, affordable housing” writes Jermaine Nolen for suntimes.com. They identified the immediate, salient barrier: Accessible, affordable housing.That suit was settled, and Marca saw the opportunity to transform Chicago housing, to finish what she started 40 years ago.Attorneys for the plaintiff offered roughly 800 housing units that possibly fell within the scope. Source: suntimes.com

Read More
News 

Fact-check: Suburban legislator wrong in claim that 30% of the nation’s poor live in California

“During a conversation about the graduated income tax on a WCPT-AM talk show, a caller mentioned California in a positive light” writes Better Government Association for suntimes.com. In the thick of tax policy debates, Illinois politicians often point to other states to make their case.J.B. Pritzker, who is spearheading the push — about how states with graduated tax systems are functioning.While California’s poverty rate ranks among the nation’s highest, federal data show the state is far from being home to a third of the nation’s poor.It was a striking criticism…

Read More
News 

Sanders plan would have billionaires taxed more than they earn

“The proposal has elicited criticism from analysts on the basis that high tax rates discourage people from working or investing, and thereby slow economic growth, and ultra-high tax rates would amplify those effects” reports washingtonexaminer.com. Bernie Sanders’ tax plan would impose annual tax rates of well over 100% on the richest 400 Americans, according to his economic advisers, mostly through his new wealth tax.”This will, in theory, accomplish it.” Of course, Sanders also does favor much higher income tax rates.Today, in contrast, the tax rate for the same group is…

Read More
News 

Trump derided Obama’s executive orders as ‘power grabs.’ But in each year of his presidency, Trump has surpassed Obama’s total over the same time span.

“Few candidates for office have placed so much emphasis on criticizing a predecessor’s executive orders as Trump did” writes Kevin Freking for sun-sentinel.com. He reasoned that Obama’s use of executive orders made him look like a weak negotiator. His biggest legislative achievement so far, a $1.5 trillion tax cut, failed to gain one Democratic vote. Source: sun-sentinel.com

Read More
News 

Tariffs are taxes, and taxes are not political winners

“Trump ought to wrap up a deal as soon as possible and take down all the new tariffs he has imposed” reports washingtonexaminer.com. Tariffs are not as economically destructive as income taxes are, and they are not as politically unpopular.President Trump has increased taxes on imports — that is what tariffs are — unilaterally.And if tariffs did bring manufacturing back home, the factories would be filled with robots rather than guys from Youngstown, Ohio.He has cut corporate taxes and individual income taxes. Source: washingtonexaminer.com

Read More
News 

The Great Soda Tax Experiment

“In the face of industry opposition, the California legislature in April shelved discussions of a bill that would impose a statewide beverage tax” writes Greg Miller for knowablemagazine.org. At the same time, there are also reasons why soda taxes might not have the impact on public health that advocates hope for.Public health researchers and economists bored into these data and more at a 2015 meeting convened by the World Health Organization to review soda tax research and make recommendations.With additional nudges from soda taxes and other policies, advocates say, that…

Read More
News 

I’m Part Of The 0.1 Percent And I Want A Wealth Tax

“Back home, a recent survey found that the majority of Canadians, including conservatives, support a wealth tax” writes Sexy-author-bio Background for thewalrus.ca. I began to see the idea of a wealth tax grow in popularity after French economist Thomas Piketty proposed a progressive annual tax on capital in his 2013 book Capital in the Twenty-First Century.To combat and reverse this trend, progressive political candidates such as Bernie Sanders, Elizabeth Warren, and Jagmeet Singh have all proposed different versions of a wealth tax on the richest families in their respective countries.I…

Read More
News 

Trump tax cuts rightly taxed labor more than capital

“Thanks to corporate and estate tax rate cuts enacted by the Tax Cuts and Jobs Act, the effective tax rate on labor has surpassed that on capital for the very first time” reports washingtonexaminer.com. For starters, the corporate tax rate reduction brought us to a globally competitive level, not substantially below it.Of the four factors of production — land, labor, capital, and entrepreneurship — only the latter two grow economies.The Tax Cuts and Jobs Act cut our corporate rate from 35% to 21%, almost the exact same rate as the…

Read More