The discourse of the Trump era has been dominated by a conceit that the two major parties have swapped economic identities. The Democrats have supposedly abandoned their historical role as spokespeople for the working class to represent the neoliberal global elite, while the Republicans have been transmuted into scruffy...
When central banks (CB) attack the demand side of inflation, they should employ at least some tactics that target upper incomes or wealth. After all, those targets are most responsible for demand-side inflation: https://hachyderm.io/@jrefior/110701318560000924
There are probably many ways to do this, and they start with congress/parliament. My idea was to set a base wealth tax, and empower the CB raise the rate when inflation is high.
I don’t know that my idea is the best one, it’s just what I came up with. But it seems like a monthly bill aimed at people with higher incomes or wealth, that the central bank could adjust, has some potential. What’s your idea?
Sarah #Huckabee is the worst. And I mean THE WORST. As governor of a #poor, floundering red state, you might think her #policy#agenda would include #legislation that improves the lives of her constituents, and improves the state's abysmal rankings in categories like health outcomes, education, and economy. NOPE! Sarah is, instead, focusing on cutting #taxes for the wealthy, stopping efforts to mitigate #COVID, and weakening #FOIA laws to protect her from #accountability
For anyone who has ever argued that #voting has little effect, the higher incidence of voting among pensioners seems to give them a degree of 'protection' unavailable to other classes of people in need of state support;
and don't forget, the #tripplelock will ensure state pension rises will nearly match #inflation, unlike most #wages
IMHO: the way governments go about #taxes is entirely backwards. One should have a wealth distribution goal, and have taxes automatically adjust annually to maintain that goal, rather than just pick them arbitrarily and then complain when you don't like the outcome. Numbers below are from the #US.
Entirely unrelated: also, be careful with #punctuation when writing headlines. ;)
TechCrunch reports: "MIT economists Arnaud Costinot and Iván Werning discuss the potential impact a proposed 'robot tax' could have on automation and jobs."
"The data serves as a complete rebuke of the trickle-down economic theory, which posits that cutting taxes on the rich will "trickle down" to those below, with the cuts eventually benefiting everyone. In America, trickle-down was exemplified by President Ronald Reagan's tax slashes. It's a theory that persists today, even though most research has shown that 50 years of tax cuts benefits the wealthy and worsens inequality."
All you #FOSS people out there, whose got recommendations for free, no-BS, no income limit #tax software/services for us cursed with US #taxes?
I know its another 6+ months away but would be great to prepare for #taxseason now.
Or, maybe those who got the skills or know US tax law could make something
“But the analysis discovered one major change: The incomes of the rich grew much faster in countries where tax rates were lowered. Instead of trickling down to the middle class, tax cuts for the rich may not accomplish much more than help the rich keep more of their riches and exacerbate income inequality, the research indicates.”
#TrickleDownEconomics holds that #taxes should be cut for the wealthiest #Americans & biggest corps, that public investments in… #education, #infrastructure & #HealthCare should be shrunk, & good #jobs shipped overseas. It has exacerbated #inequality & systemic barriers that make it harder for #Black Americans to start a business, own a home, send their children to school & retire w/dignity.
Pour SERVIR les baisses d’impôts qui ne servent à rien mais qui sont promises au patronat, on va saigner encore plus les #pauvres en récupérant du pognon sur la #Sécu, l’#Éducation ou en augmentant les #taxes sur le #carburant.
[Opinion Analysis] Trump’s Economic Plan: Raise Taxes on the Middle Class, Cut Them on the Rich - Johnathan Chait (nymag.com)
The discourse of the Trump era has been dominated by a conceit that the two major parties have swapped economic identities. The Democrats have supposedly abandoned their historical role as spokespeople for the working class to represent the neoliberal global elite, while the Republicans have been transmuted into scruffy...