Forbes contributor Jeremy Scott dissects America's tax system surrounding the anniversary of income tax -- but is it time to scrap the whole thing? Scott thinks not and asks TCF fellow and taxation expert Edward Kleinbard to weigh in.
"Kleinbard’s solution is to raise taxes and increase government spending. He argued that regressive tax systems (particularly those with VATs) are fine as long as the money is spent to subsidize the lowest quartile.'
TCF fellow Amy Dean for In These Times on whether working people will have a say in the neoliberal metropolis. "The successes in Denver, Houston and other metropolitan regions—where grassroots groups have rewritten top-down blueprints into plans for broad prosperity—show that we not only need growth," Dean writes; "we need growth that supports the expansion of the middle class. We not only need jobs; we need good jobs."
TCF fellow Edward Kleinbard quoted at Reuters on the efforts by U.S. business lobbyists to depict tax reform as anti-competitive:
"U.S. firms have designed a good deal of their domestic lobbying on BEPS along the lines that BEPS is all about bashing American success," said Kleinbard, who was formerly Chief of Staff of the U.S. Congress's Joint Committee on Taxation.
But he said the case of SAP shows the United States is also a victim of tax avoidance by foreign companies; the U.S. treasury, too, could benefit from tax reform.
At Wonkblog, TCF fellow Harold Pollack interviews behavioral economists Sendhil Mullainathan and Eldar Shafir on their new book Scarcity: Why Having Too Little Means So Much. In the conversation Pollack points out, "One of the tragedies of unemployment insurance is there's this incredible stigma for being out of the workforce for any length of time. Yet the way the system is structured, you're in the tunnel in the earliest period before the stigma is so apparent to you."
Wonkblog refers to a March interview with fellow Harold Pollack "on the claim that the lure of disability benefits were taking workers out of the workforce." In that piece, Pollack pointed out “the employment rates for people who applied for disability but were then denied.” That low rate, which is below 50 percent, "suggests we’re not pulling people out of the workforce who would otherwise be there.”
In recent decades, and especially since 2000, the richest Americans have enjoyed soaring income and wealth while the rest of the population's living standards have stagnated. The Century Foundation was one of the first institutions to raise serious concerns about these trends and propose ideas for improving economic conditions for all Americans- not just the fortunate few.
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