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A year ago, Charles Rettig, the Internal Revenue Service (IRS) Commissioner, compared the taxes that the US federal government should collect, at current tax rates, with what it does collect. Image Credit: Mustapha Saadouni on unsplash.com. What accounts for such extraordinary concentration of wealth at the top in the United States?
The credit amount depends on the individual’s tax-filing status, the number of children that they support, and income. As with most injustices in our economic and political systems, regressive taxation has hit BIPOC and low-income Americans the hardest. For 2022, the credit ranged from $569 to $6,935.
Conway of Caltech, titled The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market , examines the role of corporate propaganda. Musgrave offers a more satisfying answer, writing, “I understand neoliberalism as a governing rationality that directs state action in favor of the market” (177).
Skepticism about the government’s involvement in people’s economic lives. Between 1933 and 1939, as spending to aid the needy went from zero to more than 4% of GDP, researchers concluded that government funds were directly responsible for nearly all the drop in church charity. Strong families. Individual entrepreneurism.
4 Once on Prospect, I was awash in a sea of excitement and activity as over 150 residents, labor activists, students, and onlookers buzzed about, handing out food and water, playing with young children, stewarding informational tables, dancing to the music, and finishing a massive art project that immediately drew my attention.
It is a credible generalization that men’s lifelong role in paid work, traditionally and previously imagined as “the breadwinner,” gives them less exposure to the socialization and social skills implicit in traditional women’s roles like bearing and nurturing children and caring for relatives. But they can’t operate in a void.
4 But considered more broadly, corporate capture extends far beyond the capture of a few government agencies; indeed, over time, it has developed a stranglehold on our economy and life. But even absent open dictatorship, US government today is less a democracy than a plutocracy, ruled by the wealthy few.
Earlier this year, the Institute on Taxation and Economic Policy (ITEP) published Who Pays: A Distributional Analysis of the Tax Systems in All 50 States, its seventh study on the topic since 1996 and its first since 2018. What Is State Taxation Like Today? A Progressive Path Can state taxation be progressive?
Much of this struggle takes place outside government, but the role of the state is important. According to the Organization for Economic Cooperation and Democracy (OECD)—a group of 41 relatively wealthy nations, including the United States—in 2019, US government spending (federal, state, and local) equaled 38.1
The number of children in poverty , according to US Census Bureau data, climbed from 5.2 And that cost of living depends not just on prices and wages but also on the value of government benefits. Taxation also did not significantly change. million student loan borrowers by an estimated $500 a month. million to 42.84
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