President Trump’s tax bill includes provisions to reduce tax rates on corporations, “pass-through” entities, and wealthy individuals, and removes the alternative minimum tax and estate tax. For the good of the country, particularly now, I believe we should raise ― not reduce ― those tax rates.
The additional revenue from these tax increases should be used to fund an American Dream Opportunity Trust Fund, an independent non-partisan entity charged with making American dream opportunities a reality for all citizens. This organization should be headquartered outside of Washington, D.C. and audited by the Office of Management and Budget.
This is an urgent […]
View Original: Why We Need To Raise Taxes, Not Reduce Them
Y ounger generations have been experiencing more unstable labor market conditions and widening inequalities, the Organization for Economic Cooperation and Development said on Wednesday.
This contributes to widening inequality in old age, while socio-economic disparities in health status remain large, Anadolu Agency quoted OECD as saying.
“Ageing unequally is detrimental to future economic growth, particularly where inequality of opportunity locks in privilege or exclusion, undermining intergenerational social mobility and jeopardizing social cohesion,” the report said.Defining ageing as an unequal phenomenon that develops throughout the life course and materializes in old age, it said: “It is often the result of specific episodes […]
View Original: OECD: Youth Likely to Face Higher Inequality in Old Age
INEQUITABLE access to assets, market and human development not only persists in Pakistan, but is also reinforced every day by a confluence of unequal relations in roles, functions, decisions, rights and opportunities.
Welfare policy, or whatever is left of it, has failed to bring significant improvement for the marginalised. Along with a rise in gross domestic product, a parallel increase in inequality has also been observed and the growth gains have been limited to certain groups with elite access to resources and market participation.
Despite decades of social policy, access to resources and opportunities continues to be determined by race, place […]
View Original: Small slice for poor in growing economic pie
The International Monetary Fund (IMF) says it now favours higher taxes on the rich and has demolished the myth this might adversely affect economic growth.
The authoritative Washington-based think tank in its influential half-yearly monitor also argued for taxes on capital, suggesting a wealth and/or land taxes should be considered, something that will make Gareth Morgan as happy as if the Opportunities Party was in election talks, or even in parliament.
Scaremongers on the Right regularly trot out the high taxes will damage growth fable to scare the electorate and other parties against advocating a more progressive tax regime. Labour has […]
View Original: IMF: higher taxes for rich will cut inequality and won’t hurt growth
Global banking bodies are paying more attention to the top nations of the world, especially their finances. Despite a sharp fall in inequality around the world, the US, China and India have witnessed upward trends in its level, the International Monetary Fund (IMF) said earlier this week. Vitor Gaspar, the Director of the IMF Fiscal Affairs Department, with the Fiscal Monitor report. Photo courtesy: IMF The IMF said that despite the relevance of education, health and progress in recent years, gaps of access to quality education and healthcare services between different income groups in the population remained in many […]
View Original: India, US, China show upward trend in wealth inequality: IMF
Progressive taxation could reduce inequality in developed economies by as much as 30 per cent Conservative attacks on Jeremy Corbyn have sought to characterise the Labour leader as a ‘dinosaur’ from the bad old days of the 1970s.
It’s an ill-conceived tactic at best. An increasingly large chunk of the electorate wasn’t even born then, or, if it was, was too young to have been paying attention to current affairs.
It has little faith in the dark fairy tales of Conservative spin doctors and the latest report from International Monetary Fund ( IMF ) suggest that its scepticism is well founded, […]
View Original: Even the IMF now agrees that taxing the rich is the only way to decrease inequality
Despite a sharp fall in inequality around the world, the US, China and India have witnessed upward trends in its level, the IMF said today.
The International Monetary Fund said that despite the relevance of education, health and progress in recent years, gaps of access to quality education and healthcare services between different income groups in the population remained in many countries, including in advanced economies.
"If one focused on citizens around the world, global inequality has trended down sharply in recent decades, and that is a change from the upward trend since the beginning of the 19th century," Vitor Gaspar, […]
View Original: Inequality increased in China, India and US: IMF
neighborhood 2.png To best describe San Antonio’s struggle with extreme economic disparity, you’re better off using the term “economic segregation,” not “income inequality.”
Economic segregation in San Antonio means that wealth is concentrated into very select pockets of the city. It keeps neighborhoods divided: politically, academically, and culturally. The result is a city where some places are zones of incredible opportunity while other places dramatically limit people’s ability to thrive.
Here, we’re going to explain why “economic segregation” — and not “income inequality” — is the right framework for understanding San Antonio’s most significant social challenge — and why it matters […]
View Original: Essay: What is economic segregation, and why does it matter?
For rural Americans who don’t have access to cars, basics like grocery shopping and doctor’s appointments can turn into an arduous struggle. With few transit options at low densities, the expense and hassle of finding an alternative ride can mean important appointments simply get skipped.
That’s a problem. Rural communities increasingly reflect a group of people who don’t drive—they’re older, less mobile, and poorer. That’s the gist of a new report by the American Public Transit Association. While transit systems in large urban centers rightly draw most attention from advocates, ignoring the growing demand for service in far-flung towns risks […]
View Original: How Transit Use Could Rise in Rural America
Ball State University’s Steven Horwitz discussed howless economic inequality exists than isperceived in his lecture titled “Inequality, Mobility, and Being Poor in America” on Monday in the Student Union Theater.
The lecture was part of the department of economics’ David S. Saurman Provocative Lecture Series.
“I really think he did a good job talking about income inequality,” economics freshmanDaniel Kokavinch said.Kokavinch added thatthe lecture provided a different opinion on the issue, which he found interesting.Horwitz spoke about how the gap between the rich and the pooris not as big asthe general public perceives.Duringthe lecture, hepresentedaslide showing the average household income in […]
View Original: Lecture discusses inequality and being poor in American