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.
September 24, 2021 -
Earlier this year, Congress approved expanding the child tax credit and paying it out in advance as part of the American Rescue Plan economic stimulus bill. As Democrats discuss extending the credit, advocates argue that making it permanent would slash child poverty rates, which are especially high across the South.
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.
March 9, 2018 -
Conceived by a group of high-tech moguls and investors and championed by Republican U.S. Sen. Tim Scott of South Carolina, a new program that offers capital gains tax breaks for investing in poor neighborhoods could end up displacing long-term residents.
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.
March 9, 2017 -
An immigration raid at a Mexican restaurant in West Virginia this week led to the arrest of three men who now face deportation. While some locals cheered the action as a solution to the state's economic crisis, facts show that's a delusion.
January 12, 2017 -
Poised to strike down the Affordable Care Act without a viable replacement, Congress appears to be "walking in the darkness of destructive selfishness" that Dr. King warned against.