Not the guy we usually go to for economic advice, but…
I’d love to see a tax code that rewarded investment and discouraged consumption. That would mean cutting taxes on earnings but raising revenue through a progressive consumption tax. I’d love to see a tax code that punished pollution but encouraged social cohesion. That would mean taxing carbon but increasing tax credits for working people and families with children.
The Clash of Social Visions https://nyti.ms/2hMQEr9
Former Senator and NBA star Bill Bradley on the value of bipartisan cooperation, fair taxes, and putting general interest before special interest.
The staff was mostly too young to remember the details of the 1986 tax reform, but Bill’s retelling certainly aligns with our worldview. That is that politicians can sometimes get it right, cooperation beats polarization any day, and that taxes which advantage one group over another ultimately harm us all.
When Congress Made Taxes Fairer https://nyti.ms/2qjfsK8
The Republicans might get this one right.
The United States system for taxing businesses is a mess.
The current corporate income tax manages the weird trick of both taxing companies at a higher statutory rate than other advanced countries while collecting less money, as a percentage of the overall economy, than most of them. It is infinitely complicated and it gives companies incentives to borrow too much money and move operations to countries with lower tax rates.
The Major Potential Impact of a Corporate Tax Overhaul http://nyti.ms/2jeVcVl
This article is really about wage theft, but no one likes to call it that.
The author commissioned a study to show how we could make up lost income gains by using earned income tax credits for the lowest paid workers.
This is a great idea which the staff generally applauds, but it misses the point of where the lost wages went. In seeking to fund this make-up pay the authors dance around the idea of making those responsible give it back.
economic growth has far outpaced income growth for decades. Gross domestic product for each person in the United States was 78 percent higher in 2015 than in 1979. But the average income for those households at the 20th percentile of the income distribution rose only 6.9 percent in that span.
No one wants to admit that corporations and the wealthy took the profit from productivity gains and GDP growth away from the workers. Now have to carefully beg for it back. This is not NobodyisFlyingthePlane. This is wage theft.
What Would It Take to Replace the Pay Working-Class Americans Have Lost? http://nyti.ms/2htjKcu
A good article about the lack of info on the effect of basic incomes.
Basic income, a living wage provided by the government to every citizen, is a fascinating idea, but we don’t have much info on how well it would work in real life.
Missing from the article is discussion of how to keep recipients from blowing it and still needing essential services, such as food, housing, and healthcare.
The staff at NobodyisFlyingthePlane would like to see if the promises of candidate Clinton will be kept by President C, should she be elected.
Her words seem to be what we need. Her summary of financial reforms speaks volumes.
The proper role of Wall Street is to help Main Street grow and prosper. When our financial sector works the right way, it helps families buy their first homes, entrepreneurs start and grow small businesses and hardworking Americans save for retirement. Rather than pursuing the kind of high-stakes speculation that devastated our economy before, Wall Street should focus on building an economy that creates good-paying jobs, rising incomes and sound investments so that more families can achieve the security of a middle-class life.
Hillary Clinton: How I’d Rein In Wall Street http://nyti.ms/1jJtCiI
Progressive consumption tax. Yes please. Details to he agreed upon later.
Momentum Builds to Tax Consumption More, Income Less http://nyti.ms/1Yka8AX