A new Economist/YouGov poll published this week indicates that a majority of Americans are supportive of higher taxes on the rich, and believe that the federal government has an obligation to address wealth inequality. Asked whether they think billionaires in the U.S. are taxed either too much or too little, 61 percent said billionaires’ tax rates were either “somewhat too low” or “much too…
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California Gov. Gavin Newsom, considered by some to be the frontrunner to be the next Democratic presidential nominee, said during a panel on Wednesday that he wants his party to be a “big tent” that welcomes large numbers of people into the fold. But he’s “adamantly against” one of the most popular proposals Democrats have to offer: a wealth tax. In October…
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The Trump administration is quietly waging an all-out regulatory war on a Biden-era corporate tax that aimed to prevent large companies from dodging their tax liabilities while reporting huge profits. The corporate alternative minimum tax (CAMT) was enacted as part of the Inflation Reduction Act, Democratic legislation that former President Joe Biden signed into law in 2022.
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Zohran Mamdani’s historic victory for the working class in the financial capital of the world is a reflection of the growing appeal of bold platforms that attack extreme inequality and oligarchy and move toward a more equitable and just society. Inequality, to be sure, is one of the biggest social problems facing many countries across the globe. The gap between haves and have-nots has grown to…
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A coalition of frontline healthcare workers, unions, and economists launched an effort Thursday to build support for a proposed ballot measure in California that would impose a one-time tax on the state’s billionaires to avert a looming crisis spurred by national Republicans‘ unprecedented Medicaid cuts. The proposed ballot initiative, titled “The 2026 Billionaire Tax Act…
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