While other EU countries have been increasing transparency and cracking down on kleptocratic capital, the U.S. is a laggard.
As part of sanctions against Russia’s invasion of Ukraine, the United States, United Kingdom, and other European Union nations are cracking down on Russian oligarchs, freezing assets and tracking the yachts, private jets, and luxury real estate holdings of oligarchs. Continue reading
A new joint report from Fight Inequality Alliance, Institute for Policy Studies, Oxfam, and Patriotic Millionaires details what can be funded by simply taxing the rich.
A new analysis, “Taxing Extreme Wealth,” by the Fight Inequality Alliance, Institute for Policy Studies, Oxfam, and Patriotic Millionaires found a shocking rise in global wealth among the world’s richest people despite deepening inequality during the Covid-19 pandemic. Continue reading
A levy of just 1 percent on wealth over $1 billion would raise more than $2 billion per year to meet the state's urgent social needs.
Legislators in Washington state are taking bold steps towards instituting a state-level wealth tax. The proposed tax is a 1 percent levy on wealth over $1 billion, applying to fewer than 100 households in the state. Continue reading
The reporters behind the Panama Papers and the Paradise Papers have more to share. We should pay attention.
On September 20, the International Consortium of Investigative Journalists (ICIJ) –the reporters who brought us the “Panama Papers” and the “Paradise Papers”—released the “FinCEN Files,” in collaboration with Buzzfeed News. Continue reading
Unemployment is low, but federal employees are lining up at food banks. They aren’t alone.
As the government shutdown drags on, the image of federal workers lining up at food pantries has dramatized just how many workers live financially close to the edge. Continue reading
Urban billionaires are trotting out the tractors and overalls in a bizarre effort to roll back their taxes.
After this summer, President Trump and the Republican Congress have one big item on their agenda: taxes. Specifically, cutting them for the rich. Continue reading