The federal tax code taxes income derived from work at higher rates than income from wealth, e.g. capital gains and real estate investments. This paper from the Washington Center for Equitable Growth explores how the nation could implement a wealth tax and how such a tax could address economic inequality.
Wealth taxation: An introduction to net worth taxes and how one might work in the United States
Center for Equitable Growth, Jan. 23, 2019
This report from Institute on Taxation and Economic Policy, U.S. PIRG, SalesFactor.org and American Sustainable Business Council provides a roadmap for states to collect $17 billion lost annually to corporations stashing profits in tax havens.
Report: A Simple Fix for a $17 Billion Loophole
Institute on Taxation and Economic Policy, Jan. 17, 2019
Black families have substantially less wealth than white families. This paper by the Institute for Policy Studies examines public policies that facilitated white families’ ability to grow wealth while impeding it for black families.
Report: Dreams Deferred
Institute for Policy Studies, Jan. 2019
Subsidy Tracker is the first national search engine for economic development subsidies and other forms of government financial assistance to business. With the introduction of Subsidy Tracker 2, users also can see how much state or community dollars are spent on economic development tax breaks.
Good Jobs First
The 2017 tax law was so incredibly unpopular that its GOP backers in Congress eventually shied away from touting it during their 2018 election campaigns. In this piece, Americans for Tax Fairness looks at both state and national analysis of tax policy messaging and how voters responded.
Analysis of Tax Issues in the 2018 Federal Midterm Elections
Americans for Tax Fairness, Sept. 20, 2018
By now, it’s well known that the 2017 tax law did not deliver on its false promise to boost the middle class. This blog post by the Economic Policy Institute debunks some of the rosy rhetoric about the tax law’s so-called benefits for ordinary people.
Further evidence that the tax cuts have not led to widespread bonuses, wage or compensation growth
Economic Policy Institute, Sept. 18, 2018
“Efforts to reduce discrimination, equalize access to education, ensure equal treatment by the legal system, and otherwise end racial stratification should continue since they seem to be making real, if slow, progress. But these policies should be paired with broader economic policies to end wage stagnation for Americans of all races and, in so doing, reduce the gaps between racial groups.”
How rising U.S. income inequality exacerbates racial economic disparities
Washington Center for Equitable Growth, Aug. 23, 2018
Related: Income Inequality and the Persistence of Racial Economic Disparities, March 12, 2018
From this EPI report: “Regardless of how it is measured, CEO pay continues to be very, very high and has grown far faster in recent decades than typical worker pay. Higher CEO pay does not reflect correspondingly higher output or better firm performance. Exorbitant CEO pay therefore means that the fruits of economic growth are not going to ordinary workers.”
CEO compensation surged in 2017
Economic Policy Institute, Aug. 16, 2018
All income groups received tax cuts, but Bush-era provisions ensured the well-off gained more than others. Some progressive tax changes under Obama reduced the share of tax cuts to the wealthiest, but they continued to benefit most.
Federal Tax Cuts in the Bush, Obama, and Trump Years
Institute on Taxation and Economic Policy, July 11, 2018