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Soak the Rich

Soak the Rich 1061394 NLFXXX10.1177/10957960211061394New Labor ForumFraser research-article2021 Organized Money: What Is Corporate America Thinking? New Labor Forum 2022, Vol. 31(1) 91 –93 Soak the Rich Copyright © 2021, The Murphy Institute, CUNY School of Labor and Urban Studies Article reuse guidelines: sagepub.com/journals-permissions https://doi.org/10.1177/10957960211061394 DOI: 10.1177/10957960211061394 journals.sagepub.com/home/nlf Max Fraser Keywords corporations, Democratic Party, equality, politics, social welfare, neoliberalism Could the tax code once again become an effec- but then do such an effective job of avoiding tive instrument of progressive wealth redistri- liability for come tax season—which would be bution in the American economy? For the better applied to corporations with more than $2 bil- part of forty years beginning in the early 1940s, lion in net income. According to the Treasury the federal government levied historically high Department, a 15 percent book minimum would taxes on corporations and wealthy individuals, have translated into as much as $13 billion in and used that money, at least in part, to subsi- additional tax payments from the country’s dize unprecedented investments in public infra- richest companies over recent years. structure and the social welfare, the benefits of which really did “trickle down” to poor and Will big business foot the bill for working Americans http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png New Labor Forum SAGE

Soak the Rich

New Labor Forum , Volume 31 (1): 3 – Jan 1, 2022

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Publisher
SAGE
Copyright
© 2021, The Murphy Institute, CUNY School of Labor and Urban Studies
ISSN
1095-7960
eISSN
1557-2978
DOI
10.1177/10957960211061394
Publisher site
See Article on Publisher Site

Abstract

1061394 NLFXXX10.1177/10957960211061394New Labor ForumFraser research-article2021 Organized Money: What Is Corporate America Thinking? New Labor Forum 2022, Vol. 31(1) 91 –93 Soak the Rich Copyright © 2021, The Murphy Institute, CUNY School of Labor and Urban Studies Article reuse guidelines: sagepub.com/journals-permissions https://doi.org/10.1177/10957960211061394 DOI: 10.1177/10957960211061394 journals.sagepub.com/home/nlf Max Fraser Keywords corporations, Democratic Party, equality, politics, social welfare, neoliberalism Could the tax code once again become an effec- but then do such an effective job of avoiding tive instrument of progressive wealth redistri- liability for come tax season—which would be bution in the American economy? For the better applied to corporations with more than $2 bil- part of forty years beginning in the early 1940s, lion in net income. According to the Treasury the federal government levied historically high Department, a 15 percent book minimum would taxes on corporations and wealthy individuals, have translated into as much as $13 billion in and used that money, at least in part, to subsi- additional tax payments from the country’s dize unprecedented investments in public infra- richest companies over recent years. structure and the social welfare, the benefits of which really did “trickle down” to poor and Will big business foot the bill for working Americans

Journal

New Labor ForumSAGE

Published: Jan 1, 2022

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