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Jan 11 2024
Opinion
Do we really live in an “age of inequality”?
In recent weeks, a major debate has gripped the field of economics, one with significant policy stakes. In one sense, the debate is about the nature and extent of inequality in the US: are the rich really taking more of the pie than ever before? Has their share of income been growing very fast, or gradually? Is inequality the defining challenge of our time, or simply one among many?
In
VoxJan 15 2024
News
AI will affect 60% of US jobs and worsen income inequality, IMF warns
Artificial intelligence will affect about 60% of all jobs in the US — and worsen income and wealth inequality, the International Monetary Fund warned.
Advanced economies such as the US are at the greatest risk due to the prevalence of cognitive task-oriented jobs, the IMF said, cautioning that the disruptive technology could replace more than half the jobs available in regions that also
New York Post (News)Nov 09 2023
News
Coalition proposes Vt. wealth tax
MONTPELIER, Vt. (WCAX) - There’s a new push to raise taxes on Vermont’s top earners. A coalition of organizations gathered at the Statehouse Thursday to launch what they are calling the Fair Share for Vermont initiative. They want to see a 3% personal income tax surcharge on the top 2% percent of earners, or those making over half a million dollars annually. They say it would raise nearly $100
WCAX 3Jan 25 2024
News
New report unveils property tax inequities across Iowa
A report released by the Iowa State Auditor’s Office on Tuesday revealed significant disparities in property tax rates across the state, with wealthier areas bearing a lower tax burden compared to less affluent regions. The comprehensive study, a first of its kind, calculated overall levies for each tax district in Iowa. It found that the average property tax levy for Iowans in 2024 would be $
Mississippi Valley PublishingDec 06 2023
Opinion
The Supreme Court case seeking to shut down wealth taxes before they even exist
The Supreme Court will soon hear a lawsuit that seeks to kill a leading proposal to reduce wealth inequality in the United States, even before that proposal becomes reality.
During her 2020 presidential campaign, Sen. Elizabeth Warren (D-MA) proposed a 2 percent wealth tax on Americans worth over $50 million. The idea was that, rather than merely taxing very wealthy people’s income and
VoxJan 24 2024
News
Vermont lawmakers propose a 'wealth tax' for high income earners in the state
State lawmakers in Vermont are proposing legislation this week that would impose new taxes on the state's wealthier residents. One proposal would tax those with a net worth of over $10 million on capital gains, while another would add a 3% marginal tax on incomes that go over $500,000 a year, according to The New York Times. Both proposals are being sponsored by Vermont state Rep. Emilie
Just The NewsFeb 06 2024
News
Shapiro proposes ‘historic’ $1 billion increase in education funding to address inequities
Pennsylvania Gov. Josh Shapiro proposed increasing Pennsylvania’s education funding by more than $1 billion this year, in what he calls the largest single year increase ever. Most of the funding, $872 million, will go toward addressing the problem of some districts having “inadequate” and “inequitable” funding to provide a basic education, as determined by a Commonwealth Court ruling 364 days
WHYYJun 12 2014
News
States respond to wealth gap
The two U.S. counties with the worst income inequality couldn't be more different. No. 1 is Manhattan. The second is a rural Native American reservation in North Dakota.
Ezra KleinDec 06 2023
News
Supreme Court Seems Reluctant to Slam Door on a Potential Wealth Tax
The U.S. Supreme Court justices seemed reluctant to overturn an element of the U.S. tax code in a case that could have sweeping implications for how the government can tax wealth. In Moore v. United States, plaintiffs Charles and Kathleen Moore are challenging the constitutionality of the mandatory repatriation tax, a one-time levy on certain unrealized foreign assets that was included as part
Barron'sJan 09 2023
Opinion
The Myth of American Inequality
The federal government significantly and intentionally misreports income distribution, sparking bad policies and political divisions.
That’s the argument former senator Phil Gramm and two other economists, Robert Ekelund and John Early, lay out in their compelling and essential new book, “The Myth of American Inequality: How Government Biases Policy Debate.”
Using 2017 figures as
RealClearPolitics