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Biden wants to raise taxes on rich investors to pay for expanded child care and education, new report says

Biden wants to raise taxes on rich investors to pay for expanded child care and education, new report says

The word "Insider".Set up laterTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.President Joe Biden is planning to raiseon millionaire investors to fund child care and education programs, Biden is set to reveal the American Family Plan — part of Biden's — before addressing Congress next week. But the Times reports that Biden's proposal will not tackle health care reform.In addition to tax raises, the plan will reportedly seek to extend through 2025 the , which gives American parents recurring cash payments and stands to . This...

Apr 22
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American billionaires added $1.62 trillion to their wealth over the last 13 months

American billionaires added $1.62 trillion to their wealth over the last 13 months

The word "Insider".Set up laterTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Over the last 13 months, American billionaires added $1.62 trillion to their wealth — a 55% increase.This was a finding in the latest report from the left-leaning Institute for Policy Studies (IPS) and Americans for Tax Fairness (ATF). Both groups have tracked billionaire gains throughout the coronavirus pandemic, which has seen a for Americans: High-income workers have seen their jobs and pay grow, while low-wage workers have experienced the...

Apr 15
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A Nobel-prize winning economist says we shouldn't tax the wealthy because they'd find a way to dodge it

A Nobel-prize winning economist says we shouldn't tax the wealthy because they'd find a way to dodge it

The word "Insider".Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Wealthhave become an increasingly prominent topic as inequality surges in the wake of the coronavirus pandemic, when the world's billionaires tacked onto their net worths while fell out of the global middle class.One possible solution, touted by everyone from an on inequality to the International Monetary Fund to : A tax on the wealthiest members of society.But a Nobel Prize-winning economist famous for his work on inequality has raised concerns about using a wealth...

Apr 12
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Biden says his new infrastructure plan could create 19 million new jobs

Biden says his new infrastructure plan could create 19 million new jobs

The word "Insider".Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Get the new Insider app - now available with updated featuresTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.President Joe Biden said Friday that his new American Jobs Plan —  – could lead to the creation of 19 million new jobs.According to , Biden seemed to be citing a recent Moody's Analytics report that projects 19 million jobs could be added over the next decade ; however, it also estimates that 16.3...

Apr 2
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How Democrats could ditch the GOP and increase the minimum wage on their own

How Democrats could ditch the GOP and increase the minimum wage on their own

The word "Insider".Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Democrats tried and failed to raise the federal minimum wage as they muscled the $1.9 trillion stimulus law through Congress. But two left-leaning economists say they've figured out a way it could pass the Senate with just 51 votes, just as the stimulus did.Emmanuel Saez and Gabriel Zucman, economists from the University of California, Berkeley, propose setting up an hourly pay increase through the tax code. They say that would clear budget reconciliation, the process...

Mar 25
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Here's how much big companies like McDonald's and Walmart would pay under Sanders' and Warren's tax on CEO pay

Here's how much big companies like McDonald's and Walmart would pay under Sanders' and Warren's tax on CEO pay

The word "Insider".Set up laterTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.On Wednesday, Sens. Elizabeth Warren and Bernie Sanders — alongside other Democratic House and Senate members — re-introduced the "."The legislation applies to businesses with more than $100 million in annual revenue and targets larger corporations where CEOs earn at least 50 times more than their median worker. The tax is determined by the size of the pay gap between them, gradually increasing as the disparity worsens.If the CEO makes between 50 and 100...

Mar 20
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Elizabeth Warren says the filibuster has 'deep roots in racism'

Elizabeth Warren says the filibuster has 'deep roots in racism'

The word "Insider".Set up laterTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Democrats have had unified control in Washington again since the January runoff elections, and just like the last time they held the White House, Senate, and House, under former President Barack Obama, Republican use of the filibuster could block their plans.As Democrats increasingly say they're open to reforming the filibuster to enact Biden's agenda, some are questioning the procedure's role in American history.Sen. Elizabeth Warren that it "has deep...

Mar 18
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Bernie Sanders and Elizabeth Warren want to tax CEOs who make 50 times more than their typical worker

Bernie Sanders and Elizabeth Warren want to tax CEOs who make 50 times more than their typical worker

The word "Insider".Set up laterTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Several legislators — including Sens. Bernie Sanders and Elizabeth Warren — announced on Wednesday that they're introducing a bill to raise taxes for companies where top executives are paid 50 times more than their median workers.It's called the "," and, according to a , it's targeted toward tackling corporate greed. Sanders and Warren are introducing the bill with Sens. Ed Markey and Chris Van Hollen, as well as Reps. Barbara Lee and Rashida Tlaib. "At a...

Mar 18
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Janet Yellen wants to overhaul corporate taxes for the whole world — she's talking to other countries about a minimum rate

Janet Yellen wants to overhaul corporate taxes for the whole world — she's talking to other countries about a minimum rate

The word "Insider".Set up laterTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Treasury Secretary Janet Yellen has been clear since her confirmation hearing and subsequent press appearances that the Biden administration needs to raise new tax revenues. At the same time, she's warned of the difficulties of , which is favored by the .Part of the solution is reforming the corporate tax rate — not just in the US but far beyond its borders.To that end, Yellen is in active talks with other countries about setting a global minimum rate for...

Mar 17
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A leaked tax-plan draft shows how Democrats want to raise $2.9 trillion from wealthy Americans and big corporations, rolling back Trump-era tax cuts

A leaked tax-plan draft shows how Democrats want to raise $2.9 trillion from wealthy Americans and big corporations, rolling back Trump-era tax cuts

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.10 Things in Politics: The latest in politics & the economySomething is loading.House Democrats are poised to propose hitting large firms and the wealthiest Americans with a spate of new tax increases that would raise $2.9 trillion in tax revenue to finance a , showed a draft proposal circulating among Democrats on the House Ways and Means Committee that was obtained by Insider.America's highest earners and biggest companies would bear the brunt of the tax hikes, which amount to a...

Sep 14
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