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By Rachel Goldfarb, originally published on Next New Deal

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The Stiglitz Code: How Taxing Capital Can Counter Inequality (Next New Deal)

In a major white paper published today, Roosevelt Institute Chief Economist Joseph Stiglitz connects tax reform to the fight against income inequality. President and CEO Felicia Wong comments.

  • Roosevelt Take: Read the white paper, "Reforming Taxation to Promote Growth and Equity," here.

Getting Real about Closing the Gender Pay Gap (The Baffler)

Kathleen Geier looks at three policy changes to counter the gender pay gap: make it easier to join a union, pass pay equity laws, and encourage workplace flexibility.

Conservative 'Compassion' for the Underprivileged Blows Another Fuse (LA Times)

Conservative reformers' suggestions for economic reforms show contempt for the underprivileged, writes Michael Hiltzik, and for the public programs that assist them.

Median CEO Pay Tops $10 Million For The First Time (NPR)

The increase in CEO pay was primarily due to performance bonuses and stock options, compensation that allow CEOs to profit from the rising stock market, reports Alan Greenblatt.

  • Roosevelt Take: Roosevelt Institute Fellow and Director of Research Susan Holmberg and Campus Network alumna Lydia Austin call for closing the performance pay loophole.

Chamber Of Commerce Claims Calculating How Much More CEOs Make Than Their Workers Is ‘Egregious’ (ThinkProgress)

Bryce Covert reports on the Chamber's insistence that CEO-to-worker pay ratios won't demonstrate if CEOs are overpaid. Right, they're more likely to show if workers are underpaid.

Verizon Wireless Workers Make History in Brooklyn (In These Times)

Mike Elk says the store workers' vote to join the same union as their Verizon landline co-workers breaks into new ground.

New on Next New Deal

The FT's Piketty Criticism is Nothing Like the Reinhart-Rogoff Affair

Roosevelt Institute Fellow Mike Konczal contrasts Chris Giles' critique of Thomas Piketty's data and the methodology errors in Carmen Reinhart and Ken Rogoff's work.

Originally posted to Roosevelt Institute on Wed May 28, 2014 at 05:00 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  When one considers that our currency, the (1+ / 0-)
    Recommended by:

    U.S. dollar, originates in the federal corporation, then federal revenue is really nothing but a mechanism to return the dollars (make them come back) for purposes of accounting and redistribution. Instead of thinking of dollars as if they were precious and in short supply, we need to make a comparison to glass bottles, made out of molten sand. So, if these artifacts are being hoarded and rationed, then there is some human peculiarity in play which we, if we are rational beings, counteract by simply making more. And, if you think about it, that's what the Treasury, at the direction of the Federal Reserve has been doing for several years now, to the consternation of all the rationers and hoarders, whose undeclared desire to manipulate the economy has been flumoxed. They still haven't accepted that their stash is worthless, but that's largely a consequence of the fact that hoarders are mostly enamoured of the process and don't care what they hoard, as long as the accumulation grows.
    Hoarders don't really care what they spend, either. Which accounts for people like the Koch Brothers apparently throwing dollars at losing causes. Their stable of losing political candidates keeps growing and that accumulation may well be satisfying, too.

    "To travel hopefully is better than to arrive," may be amended to read "to accumulate is better than to have."

    by hannah on Wed May 28, 2014 at 05:31:13 AM PDT

  •  The U.S. Deficit (0+ / 0-)

    Why the U.S. Government Never, Ever Has to Pay Back All Its Debt.
    How will our children, grandchildren, and sundry other friends and relatives too young to see an R-rated movie unaccompanied ever pay back the entire debt the government is piling up now? Easy. They won't.
    Government borrowing from the banks is a relic of the past, when the government was on a gold standard and had to find the money it needed to fund its operations.

    It no longer needs to fund its deficit spending from borrowing since 1971, when the country left the gold standard for good. However, the laws and operational mechanisms are still in place from the gold standard days, and so the government continues to use them.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Thu May 29, 2014 at 12:20:19 AM PDT

  •  Tax Capital adequately (0+ / 0-)

    The world needs to stop putting so much tax on people (wages), and put a lot more tax on ‘Capital’.
    Capital: Capital gains, Dividends, financial transactions, etc.

    The worship of capital is an ideology.
    It is not working.

    If there were actual capitalists still running the US and the global system, AIG would be bankrupt and taxpayers across the globe would not be covering bad CAPITAL transactions and bets made by banksters.

    So for me, failing to tax capital is a double-injury: first, it expects wages to take all the hits for taxation; second, it expects wage earners to be at the servitude of those who bet, swindle, and commit fraud with capital.

    After all, wage earners are lot easier to track: a job is either performed to specifications, or it isn’t. There’s an automatic reality check — yet this form of ‘energy’ is taxed ludicrously.

    Meanwhile, ‘capital’, which can be puffed up by bogus accounting, morphed into various currencies in the blink of an eye, gambled into fortunes, and is the lucre of speculators, is paid an obeisance that makes no real economic sense — unless you recognize that those who bleat about it so extensively are blinded by an ideology that is simply not presently operating with any reasonable reality checks.

    And currently, the governments enable this inability to realistically assess the actual economic role and value of capital, by failing to tax it adequately.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Thu May 29, 2014 at 12:42:26 AM PDT

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