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Democrats Turn to Tax Reform to Reduce Wealth Disparity

Volume 6 No 3    /    Read Article

By Nina Krauthamer

The U.S. Federal deficit is expected to reach $1 trillion in 2019. Meanwhile, a hedge fund billionaire recently purchased a New York City condominium for $238 million, and it is estimated that the top 0.1% possess almost the same amount of wealth as the bottom 90% of all households. Clearly there are wealth disparities and funding needs in U.S. When it comes to tax policy, Democrats have traditionally focused on tax relief, including a negative income tax, for poor and working-class families. Several recent pronouncements and extensive press coverage indicate a new approach, designed to tax the wealthiest individuals at significant rates of tax. Nina Krauthamer explains how current Democratic Party policy makers are planning to even out the distribution of wealth.  See more →