Author Archives: Chuck Collins

Cracking down on Russian oligarchs means cracking down on U.S. tax havens

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

Report: Taxing the world’s richest would raise us $2.52 trillion a year

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

The simplest, most effective, and popular way to fund the jobs bill

Even Trump voters like the idea of a modest extra tax on multimillionaires.

As lawmakers scramble to finalize a historic jobs and infrastructure package, huge fights are underway to figure out how to fund it. Continue reading

The movement for a wealth tax in Washington state

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 worst part of Trump paying zero taxes? It’s probably entirely legal

The tax code has one set of rules for the super-rich and another for everyone else. A cottage industry exists to help them avoid taxes.

Donald Trump’s tax returns are a stark illustration of what’s broken with the US tax system: the tax code has one set of rules for the richest 0.1% and another for everyone else. Continue reading

FinCen Files shine spotlight on suspicious bank transfers

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

Bring back Eisenhower socialism

Conservatives want you to believe that not having to choose between paying for rent or medicine is Soviet-style tyranny.

Beware of the specter of socialism! Continue reading

Bernie’s plutocracy prevention act

Sanders' new 'For the 99.8% Act' is squarely aimed at preventing the children of today's billionaires from dominating our future democracy, economy, culture and philanthropy

The Republicans can’t control their baser greed impulse, as revealed in their latest move to abolish the federal estate tax, our nation’s only levy on the inherited wealth of the super-rich. Continue reading

The government shutdown expands the ranks of ‘underwater nation’

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

The wealth hiding in your neighborhood

From country farmland to big city skyscrapers, absentee billionaires may be hiding wealth in your town—and driving up your cost of living.

The rich are hiding trillions in wealth. Continue reading

Help for struggling millionaires is on the way

If you're struggling to get by on $20 million, the GOP is looking out for you and your heirs.

It isn’t easy being a millionaire these days, especially if you’ve got less than $20 million. Fortunately, Congress is watching out for you. Continue reading

How tax-dodging billionaires use farmers as props

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

What happened to America’s wealth? The rich hid it.

There's actually trillions that could be used to fix our roads and schools. The wealthy just don't want you to know where it is.

If you find yourself traveling this summer, take a closer look at America’s deteriorating infrastructure—our crumbling roads, sidewalks, public parks, and train and bus stations. Continue reading

Congress wants to cut your health care—and billionaires’ taxes

But health care costs, not corporate taxes, are the real drain on the U.S. economy.

Members of the House GOP were in a hurry on May 4 to pass their bill to gut Obamacare. They rushed it through before anyone even had a chance to check its cost or calculate its impact on people’s access to insurance. Continue reading

Eight ways to strengthen our democracy beyond voting

The strength of our civic life depends on what we do outside elections.

Throughout this trying election season, we’ve been told how much is at stake with our vote. But the success of any democracy depends on continuing to pay attention long after we cast our ballots. Continue reading

Anti-pipeline movement gathers steam

From Standing Rock, North Dakota, to Kentucky, residents are fighting big oil and gas.

Thousands of Native Americans at Standing Rock in North Dakota are protesting a pipeline project that puts their water supply at risk, threatens to plow up their sacred sites, and would worsen climate change. Continue reading