Trillions of dollars of unrealized capital gains permanently escape taxation, disproportionately benefitting the richest Americans. Congress could close this loophole.
In a recent New York Times column (paywall), Berkeley economist Gabriel Zucman calculated that the highest-income Americans pay only about 23 percentof their income in...
There is substantial evidence that income inequality in America rose throughout the late 20 th and early 21 st centuries. Influential research by Thomas Piketty,...
The Internal Revenue Code generally does not refer to race or ethnicity, but federal income taxes may contribute to racial disparities when factors that affect...
President Biden’s plan to raise taxes on very high-income households died in Congress. But the idea of lives on. Initiatives on November ballots in California...
Did President Biden and other Democrats read 18 th century revolutionary Tom Paine before they proposed their taxes on extreme wealth? Hard to know, but...
Democrats started this year with President Biden’s proposal to raise taxes on high-income households as a way to help pay for an ambitious social spending...