Truthout
Economy
Nobody “Earns” a Billion Dollars. We Need a Wealth Tax.
Economist James K. Boyce analyzes new data on US disparities and frames environmental degradation as a class issue.
Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century
Between 1945 and 1980, households with a $1 million income or more paid effective tax rates as high as 60 percent.
Here Are the 5 Key State Tax Trends to Watch This Year
Several states are adopting bold progressive policy, while others are cutting taxes on the wealthy.
Sanders Introduces Bill to Combat “Legalized Tax Dodging” for Corporations
Over the next decade, the bill would allow the federal government to collect an additional $2.3 trillion in tax revenue.
Activists: Biden Risking Student Debt Relief Plans by Continuing MOHELA Contract
Sticking with the servicer at the center of the SCOTUS debt relief case threatens current forgiveness plans, they say.
US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul
Billionaires now control 1 out of every 25 dollars of American wealth.
Uber Says Raising Driver Pay Causes High Fares. Cities Aren’t Buying It.
The data suggest that Wall Street investors are now demanding their cut now that Uber dominates the market.
Experts Back Mexico’s Ban on Genetically Modified Corn Amid US Trade Dispute
The Biden administration is challenging the ban in a dispute settlement panel under a North American trade deal.
These Companies Pay Their Executives More Than They Pay in Taxes
Tesla, Ford, Netflix and T-Mobile are among scores of U.S. firms that pay their top execs more than they pay the IRS.
Rent Increases Are Driving Inflation — and Pessimism About Economy Under Biden
Democrats say the economy is great, but millions of tenants are struggling to pay historic rent increases.