If the US government is serious about ensuring meaningful and sustainable work for all Americans, the primary focus should be on structural interventions to shift the balance of economic and political power from Wall Street to Main Street, says a report by the New Economy Working Group.
By taxing wealth and financial transactions and cutting spending on the military and harmful subsidies, the American government could raise an extra $824 billion in revenue. These reforms would not only address the deficit, they would create a more equitable, green, and secure nation, says a report by the Institute for Policy Studies.
Current proposals to reform America’s broken financial system fall far short of what is required. Only a community-based and democratically accountable system of money, banking, and finance can liberate the US from Wall Street rule, says a report by the New Economy Working Group.
At the core of the fiscal crisis facing state governments in the US are regressive tax structures, where low-income earners bear a heavier burden than the rich. Turning effective tax rates upside-down would raise an additional $490 billion, more than enough to erase budget shortfalls, says a report by United for a Fair Economy.
Much of America’s wealth has become concentrated in the hands of individuals and companies who pay little or no tax. Reversing tax giveaways to the super-rich and the nation's largest corporations could raise $4 trillion within a decade and avert possible government closures, says a report by the Institute for Policy Studies.
As Wall Street recovers from the worst recession since the Great Depression, the wealth gap between typical American families and workers and the wealthy investor class continues to widen. The richest 5% now hold more than half of the country’s wealth, says a report by the Economic Policy Institute.
After his first year in office, many commentators suggest that President Obama has fallen short of achieving a progressive agenda for change. Three reviews explore the performance of the US administration in economic, social and foreign policy.