Tag Archives: Taxes

Fact Sheet: Taxing Stock Buybacks Strengthens the Real Economy

Increasing the tax on corporate stock buybacks encourages investments in the real economy, discourages excessive executive compensation that widens economic inequality, and raises funds to protect healthcare, nutrition, and other programs that help working families. Raising the buybacks tax to 4 percent would generate $166 billion in revenue over the next decade, and encourage companies to reinvest in workers and innovation instead of inflating their share prices and juicing executive compensation.

News Release: Big, Brutal Bill Advances in House

The House majority has just chosen to prioritize Wall Street and billionaires over everyday people by advancing legislation that would strip away funds for healthcare and nutrition to give big corporations and the super-rich tax breaks. Adding insult to injury, they also voted to make people’s lives harder and less secure by giving Wall Street, big banks, and abusive financial companies free rein to fleece the rest of us.

Event: The Hidden Racism of the Tax Code: a Fireside Chat with Dr. Dorothy A. Brown & Dr. Darrick Hamilton

The Take on Wall Street campaign of Americans for Financial Reform hosted a virtual fireside chat with Dr. Dorothy A. Brown, Professor of Law at Emory University and author of The Whiteness of Wealth and Dr. Darrick Hamilton, director of the Institute for the Study of Race, Power and Political Economy at The New School, to discuss the white supremacy inherent in our tax code and how American tax policies impoverish Black Americans while enriching white Americans, and how we can restructure our system to focus on justice and equity.

Blog Post: If we want to renew democracy, we need to tax the ultra-wealthy

Sen. Warren and Rep. Jayapal’s Ultra-Millionaire Tax Act of 2021 could not be a more timely reminder that the United States needs serious policy changes to address massive wealth and income inequality. Wall Street is the second-largest source of billionaire wealth, after the technology industry. While 8 million Americans slipped into poverty and half a million lives were lost to COVID-19 since the beginning of the pandemic — all with a disproportionately large impact on communities of color — the wealth of U.S. billionaires almost doubled, up $1.3 trillion.

News Release: AFR Cheers Introduction of Legislation Eliminating Opportunity Zone Tax Giveaway

Rep. Rashida Tlaib (D-Mich.) introduced groundbreaking and essential legislation to repeal the deeply flawed Opportunity Zone tax break passed as part of the 2017 tax cut legislation. In addition to the basic problems with this tax break for the wealthy, multiple media exposés have already found that the rules have been bent to include parcels that benefitted high-rolling real estate investors, including those with ties to the Trump administration.

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AFR/TOWS Statement: Unpopular, Harmful Tax Cuts Reward Wall Street Donors

At a time when millions of everyday Americans are struggling with stagnant wages, Republicans decided to use the tax code to reward its contributors. Polls have shown that the Republican tax bill is deeply unpopular. Voters recognize it for what it is: a giant holiday gift to Wall Street and the super rich that the rest of us will be paying off for decades.