2019-02-03 13:39:00 Sun ET
technology social safety nets education infrastructure health insurance health care medical care medication vaccine social security pension deposit insurance
It can be practical for the U.S. to impose the 2% wealth tax on the rich. Democratic Senator Elizabeth Warren proposes a 2% wealth tax on the richest Americans with more than $50 million in total assets. For the even richer Americans with more than $1 billion total assets, the wealth tax should rise to 3%. This radical tax proposal may help raise almost $2.5 trillion to $3 trillion in a decade, although this proposal affects less than 0.1% of U.S. households in accordance with the fiscal estimates of Berkeley economic advisor Emmanuel Saez. On one hand, this wealth tax can help reduce economic inequality in America by closing the wealth gap between the rich and the middle class. At the same time, this wealth redistribution can promote better social mobility as the rich Americans may then find it difficult to transfer their economic advantages to the next generation via education, business ownership, and political power.
On the other hand, the wealth tax proposal can help fight tax evasion by wealthy Americans who might choose to renounce their U.S. citizenship by tunneling funds abroad. The proposal is now subject open debate and controversy as the American consensus tilts toward progressive taxation.
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.
2019-11-07 14:36:00 Thursday ET
America expects to impose punitive tariffs on $7.5 billion European exports due to the recent WTO rule violation of illegal plane subsidies. World Trade Org
2025-07-01 13:35:00 Tuesday ET
In recent times, financial deglobalization and asset market fragmentation can cause profound public policy implications for trade, finance, and technology w
2018-06-17 10:35:00 Sunday ET
In the past decades, capital market liberalization and globalization have combined to connect global financial markets to allow an ocean of money to flow th
2018-12-11 10:34:06 Tuesday ET
Several eminent American China-specialists champion the key notion of *strategic engagement* with the Xi administration. From the Hoover Institution at Stan
2018-10-15 09:33:00 Monday ET
Several pharmaceutical companies now switch their primary focus from generic prescription drugs to medical specialties such as cardiovascular medications an
2019-08-28 14:46:00 Wednesday ET
Santa-Barbara political economy professor Benjamin Cohen proposes new fiscal stimulus to complement the current low-interest-rate monetary policy. Cohen fin