Visit our new website: worldnews.easybranches.com

Tackling inequality: Taxing the rich

  • Fri, 13 Oct 2017 17:31
Main image:  FOR once, the Daily Mail and the Guardian, British newspapers of the right and left, agree. In the former, Alex Brummer says “IMF's new line of thinking of tax should please Corbyn & co” while the latter says that the IMF “analysis supports tax strategy of Labour in UK”. Both are responding to the IMF's fiscal monitor which does indeed say that there would appear to be scope for increasing the progressivity of income taxation without significantly hurting growth for countries wishing to enhance income redistribution.The report details how income tax progressivity in advanced economies declined in the 1980s and 1990s and that the tax system has done little to reduce inequality in recent yearsBetween 1985 and 1995, rising fiscal redistribution was able to offset about 60 percent of the increase in market income inequality. In contrast, average fiscal redistribution hardly changed between 1995 and 2010, while market income inequality continued to increase. As a result, average disposable income inequality increased broadly in line with market income inequalityBut the report is about the west as a whole, rather than Britain in particular. When it comes to a specific tax rate, it says that  Assuming a welfare weight of zero for the very rich, the optimal marginal ... Economic Issues

Tags


Related Stories

Use balance transfers to start 2018 with path to pay off debt
  • Sat, 16 Dec 2017 19:27

NEW YORK (Reuters) - When the U.S. Federal Reserve raises interest rates, as it did on Wednesday by a quarter-percentage point, the first pinch consum...

Vivienne Tam scales fashion peaks with China Chic
  • Sat, 16 Dec 2017 18:33

NEW YORK (Reuters) - Some of us are fortunate to find a calling in life early on, and for Vivienne Tam it was literally by design. Reuters: Money

Column: New U.S. state retirement plans are welcome, but why so expensive?
  • Sat, 16 Dec 2017 17:28

CHICAGO (Reuters) - Next month, Oregon will become the first U.S. state to start automatically signing up workers to save for retirement if they do no...

A Holiday Party Open Thread
  • Sat, 16 Dec 2017 14:28

It’s Holiday Party Week, so I’m curious how all of your holiday parties are going. Are you doing the thing where you visit three friends&#...

Learning To Love The Bull Market
  • Sat, 16 Dec 2017 12:30

It feels like selling stocks is the right thing to do. But our insights tell us to resist the urge to invest based on feelings. As 2017 enters its hom...

Trees are covering more of the land in rich countries
  • Sat, 16 Dec 2017 10:59

COLM STENSON drives around County Leitrim, pointing out new tree plantations. In this corner of Ireland, close to the border with Northern Ireland, co...

Fed's Quarles to recuse himself from Wells Fargo matters
  • Sat, 16 Dec 2017 10:29

WASHINGTON (Reuters) - Randal Quarles, the top Federal Reserve official tasked with policing Wall Street, said on Friday that he would recuse himself ...

A Friday Chat About Laundry and Apartment Culture
  • Sat, 16 Dec 2017 09:31

Photo credit: gothopotam, CC BY 2.0. NICOLE: Happy Friday! COURTNEY: Yes! Happy Friday! This is your first full week in the new place, right? NICOLE: ...

'Tiger Cub' Griffin shuts his Blue Ridge hedge fund after 21 years
  • Sat, 16 Dec 2017 08:37

BOSTON (Reuters) - John Griffin is shutting his $ 6 billion Blue Ridge Capital hedge fund after more than two decades, becoming the latest high profi...

Sew what now?: Worries about premature industrialisation
  • Sat, 16 Dec 2017 07:29

Print section Print Rubric:  Automation is less of a threat to workers in the emerging world than...

Could Russia Cut Off The Internet?
  • Sat, 16 Dec 2017 04:30

One the heels of the FCC repeal of Net Neutrality comes another internet carfuffle, this time via Russia. D1_TheOne / Pixabay British intelligence rec...

Borderline solution: The fate of the Irish frontier shows the compromises that Brexit entails
  • Sat, 16 Dec 2017 00:29

Print section Print Rubric:  The fate of the Irish frontier shows the compromises that Brexit wil...


News Categories