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Feb 11 2020
Background
Should We Implement a Wealth Tax?
WHY IT MATTERS: According to the Federal Reserve, income and wealth inequality in the United States is on the rise. This fact has been highlighted by several 2020 presidential candidates, who believe that wealth is too highly concentrated at the top. One proposal to redistribute wealth from the top earners is a wealth tax (there are currently several versions of this tax being suggested).
The ThreadDec 06 2023
News
Supreme Court looks like it will punt on a wealth tax while upholding levy on foreign income
The Supreme Court on Tuesday seemed inclined to uphold a tax on foreign income while leaving questions about a broader, never-enacted tax on wealth for another day. On the first issue, conservative and liberal justices voiced concerns that ruling for a Washington state couple challenging a provision of the 2017 tax bill would threaten other provisions of the tax code. After two hours of
FortuneDec 06 2023
News
Wealth Of Indonesia’s 50 Richest On Forbes List Rises 40% To Record US$252 Billion
SINGAPORE (December 7, 2023) – Despite slowing exports and a dip in the benchmark stock index, the collective net worth of tycoons on the 2023 Forbes list of Indonesia’s 50 Richest rose 40% to a record US$252 billion, up from $180 billion a year ago. The complete list is available here as well as in the December issue of Forbes Asia. The record rise was fueled by a raft of IPOs, notably of
ForbesMay 03 2015
Opinion
‘Inequality Is a Choice’
THE eruptions in Baltimore have been tied, in complex ways, to frustrations at American inequality, and a new measure of the economic gaps arrived earlier this year:
It turns out that the Wall Street bonus pool in 2014 was roughly twice the total annual earnings of all Americans working full time at the federal minimum wage.
You read that right: Just the annual bonuses for just
New York Times (News)Dec 05 2013
Opinion
The President on Inequality
Mr. Obama said in a speech on the economy and the widening gap in national income that he will devote the rest of his presidency to the crucial issue of social mobility.
New York Times (News)Jul 25 2013
Opinion
The Inequality President
The Wall Street Journal reports that the rich have done fine under Obamanomics - not so the middle class.
Wall Street Journal (Opinion)Jan 22 2015
News
In SOTU, President Punts on Income Inequality
Much of the buildup to President Obama's State of the Union address made it sound as if he was going to read chapter and verse from French economist Thomas Piketty's book, Capital in the 21st Century -- you know, last year's 700-plus page best seller, the one that was unexpectedly all the rage as it argued that vast economic inequality is as much about wealth (what's owned) as it is about
HuffPostAug 31 2023
News
UBS Global Wealth Unit Reels In Record Net New Money
UBS said its Global Wealth Management unit brought in $16 billion in net new money, marking its highest second-quarter haul in more than a decade.
The Swiss bank also posted Thursday a record $29 billion profit for the second quarter alongside fresh details about its acquisition of longtime rival Credit Suisse. UBS continues to operate Credit Suisse as a separate entity and its results
Barron'sApr 15 2015
Opinion
Has Obamacare Turned Voters Against Sharing the Wealth?
With the advent of the Affordable Care Act, the share of Americans convinced that health care is a right shrank from a majority to a minority.
This shift in public opinion is a major victory for the Republican Party. It is part of a larger trend: a steady decline in support for redistributive government policies. Emmanuel Saez, an economics professor at Berkeley and one of the nation’s
New York Times (News)Oct 02 2023
News
New York Trial Accusing Trump of Lying About His Wealth Opens
(NEW YORK) — The fraud lawsuit that could cost former President Donald Trump control of some of his most prized properties went to trial Monday, with New York state lawyers vowing to hold him accountable while he denounced the case as a politically motivated “scam.” The civil case, brought by New York Attorney General Letitia James, accuses the business-mogul-turned-politician and his company
Time Magazine