A new Economic Snapshot shows that the pay gap between CEOs and employees has widened considerably over the last several decades. Today CEOs make 276 times more than typical workers—compared with 20 times more in 1965 and 30 times more in the late 1970s. From 1978 to 2015, CEO compensation grew 941 percent—while the compensation of a typical worker grew just 10 percent. …
In a new report, EPI’s Josh Bivens and Hunter Blair write that a financial transaction tax (FTT).
What this report finds: A well-designed financial transaction tax (FTT)—a small levy placed on the sale of stocks, bonds, derivatives, and other investments—would be an efficient and progressive way to generate tax revenues. Gross revenues from a well-designed FTT would likely range from $110 billion to $403 billion. And net revenues (including offsets from reduced income, payroll and capital gains taxes, and increased borrowing costs) would likely be substantially higher than some other recent estimates indicate. This is mainly because other estimates’ assumptions about the volume of financial transactions an FTT would crowd out are too high, and because an FTT is likely to redistribute rather than reduce overall incomes. Regardless of the level of revenues raised, an FTT would be a win-win for the U.S. economy. Higher revenues would result in more funds for social insurance programs and much-needed public investments. Lower revenues would be the result of the FTT crowding out financial transactions of little value to the U.S. economy. This would boost Americans’ incomes through lowering fees on financial services, such as the management of 401(k)s and other accounts.
Why this matters: As the U.S. economy continues to recover from the 2008 financial crisis and the ensuing Great Recession, an FTT would help ensure the financial sector compensates other sectors of the economy (particularly U.S. households) for the damage the sector inflicted. Through generating tax revenues, decreasing the fees Americans pay on their investments, and shrinking unproductive parts of the financial sector, an FTT would help Wall Street work for Main Street.
While Cortez Masto Prosecuted Criminals, Congressman Heck Threatened Nevadans’ Safety By Voting Against More Funding For Cops
Las Vegas, NV – Another day, another out-of-state special interest group propping up Congressman Heck’s campaign with lies about Catherine Cortez Masto. Last night, it was reported that Washington Republicans are running yet another ad that lies about Catherine Cortez Masto’s record while ignoring Congressman Heck’s own record of putting partisan politics ahead of Nevadans’ safety
The truth is: crime went down during the eight years Cortez Masto was Attorney General. Nevada law enforcement is supporting Cortez Masto because she has a proven record of solving problems and working with law enforcement to keep Nevada communities safe
“Nevada cops support Catherine Cortez Masto because unlike Congressman Heck, she has consistently put the safety of Nevadans ahead of partisan politics,” said Zach Hudson, spokesperson for Catherine Cortez Masto for Senate. “The facts are…
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Last week the Polish news outlet A Polish-language excerpt of our conversation is up now on the website. This was an interesting interview, because I rarely get asked about Polish-American issues, and given the heated racial/ethnic rhetoric of this election — and Trump and Bill Clinton’s controversies regarding Poland and Polish-Americans — it was a good opportunity to write about things I can’t elsewhere …did a long Q & A with me about the US election, its relevance for Poland, and its relevance for Polish-Americans.
Read the full source article here: