April 8, 2022 -
The U.S. is home to over 730 billionaires, with over 140 living in Southern states. The new budget proposal from President Biden calls on Congress to pass what's being called a "Billionaire Minimum Income Tax" that would levy annual gains in stocks and other assets held by the richest .01% — assets that are not taxed at all now unless they're sold.
June 11, 2021 -
The Emory law professor and author of "The Whiteness of Wealth" calls for returning to a progressive income taxation system and establishing a tax credit as compensation for systemic racism. She also argues that simply publishing tax data by race could make the public angry enough to want to change the federal tax system.
April 14, 2017 -
The 35 percent federal corporate income tax rate is a myth, according to a new Institute on Taxation and Economic Policy report that studied 258 consistently profitable Fortune 500 firms over an eight-year period. Among the sectors that paid the least were electric utilities and oil, gas and pipeline companies.
December 10, 2015 -
Economic inequality, which is particularly stark in Southern states, is worsening. Two new reports document the growing gap between the rich and poor, its implications for future U.S. economic growth, and policy options for narrowing it.
September 21, 2015 -
So far this year 67 individuals and companies have given $1 million or more to super PACs supporting presidential candidates. Southern donors, including many Texas oil billionaires, account for over 50 percent of the contributions and have given exclusively to GOP candidates.
April 10, 2015 -
The current field of declared and soon-to-be declared presidential candidates includes politicians who've gone to bat for tax avoiders -- and have sought to avoid taxes themselves.
August 4, 2014 -
Should companies that reincorporate abroad to avoid federal taxes be able to win federal contracts? A group of Democratic members of Congress has drafted legislation to halt the practice.