June 27th, 2017

Tax reform that works for all

Economics & Politics

The republicans are trying to jam a reckless health care bill through Congress so that they can move on to their real objective: another round of deep tax cuts for the rich, paid for by deep cuts in public services, more debt on the backs of the young, and reckless disregard for the environment. We need tax reform, but of a very different kind.

A real tax reform would address four problems. First, it would raise total revenues as a share of GDP, in order to cut the chronic budget deficit. Second, it would address the crisis of falling wages and disappearing jobs facing working-class America. Third, it would curb carbon pollution, which is dangerously warming the planet. Fourth, to spur saving and investment, it would shift taxes toward consumption rather than income.

Read the full article at the Boston Globe.


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