Tag Archives: progressive taxation

Dean Baker looks at offsets. He doesn't see "taxing the rich" as a good offset. I don't think MMT economists do either, and as far as I know, they have not pushed this proposal. "Taxing the rich" through progressive taxation has another reason. That is, limiting the political power of wealth and reducing inequality. There are good reasons for this – social, political and economic.Some MMT economists have recommend preemption of rent extraction first, with the residual to be addressed...

MICHAEL ROBERTS: I think the IMF, and that clip shows it, is worried that the huge increase in inequality of income and wealth in many countries, like the US and the UK, over the last 20 or 30 years is reaching such extreme levels that there is serious danger of social and political unrest. The great status quo of globalization and neoliberal policies and international activity in the direction of big business is being threatened by this high inequality. Their economists have now started to...