2019-06-27 10:39:00 Thu ET
treasury deficit debt employment inflation interest rate macrofinance fiscal stimulus economic growth fiscal budget public finance treasury bond treasury yield sovereign debt sovereign wealth fund tax cuts government expenditures
Berkeley tax economists Gabriel Zucman and Emmanuel Saez find fresh insights into wealth inequality in America. Their latest estimates show that the top 0.1% of U.S. taxpayers control 20% of American wealth. This result represents the highest share since 1929. The top 1% of U.S. taxpayers control 39% of American wealth, whereas, the bottom 90% of U.S. taxpayers keep only 26% of American wealth. In contrast, the bottom half of Americans collectively have a negative net worth (i.e. total liabilities exceed total assets).
Zucman further finds that multinational corporations move 40% of their $600 billion offshore profits out of high-tax countries into lower-tax jurisdictions. With their main empirical results, Saez and Zucman both champion bold and aggressive tax policy recommendations. For instance, Senator Elizabeth Warren proposes a wealth tax that would rake in $2.8 trillion over the next decade. Warren confers with Saez and Zucman again before she floats a corporate tax on net profits above $100 million. This tax may raise $1 trillion over 10 years. Further, New York congressional rep Alexandria Ocasio-Cortez proposes to hike the top marginal tax rate for Americans who earn annual income above $10 million. The Saez-Zucman empirical results lend credence to these bold tax policy proposals.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2019-08-16 17:37:00 Friday ET

Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data. The European Commission probes into whether Amazon uses key third-par
2018-08-21 11:40:00 Tuesday ET

President Trump criticizes his new Fed Chair Jerome Powell for accelerating the current interest rate hike with greenback strength. This criticism overshado
2017-02-25 06:44:00 Saturday ET

As the White House economic director, Gary Cohn suggests that the Trump administration will tackle tax cuts after the administration *repeals and replaces*
2022-02-22 09:30:00 Tuesday ET

The global asset management industry is central to modern capitalism. Mutual funds, pension funds, sovereign wealth funds, endowment trusts, and asset ma
2018-02-23 09:35:00 Friday ET

Warren Buffett releases his annual letter to Berkshire Hathaway shareholders as of February 2018. Buffett discusses Berkshire's core cash ambition, its
2023-08-21 12:25:00 Monday ET

Steven Shavell presents his economic analysis of law in terms of the economic outcomes of both legal doctrines and institutions. Steven Shavell (2004)