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Response to the IPCC 1.5°C Special Report
Almost 50% of global carbon emissions arise from the activities of around 10% of the global population, increasing to 70% of emissions from just 20% of citizens. Impose a limit on the per-capita carbon footprint of the top 10% of global emitters, equivalent to that of an average European citizen, and global emissions could be reduced by one third in a matter of a year or two.
inequality  climatechange  ghgs 
10 days ago by badeconomist
Real Progress for Canada’s Middle Class
Chart 13
Breakdown of estimated net impact of changes in annual federal transfers to individuals and federal taxes between 2015 and 2019, by family income decile, adjusted for family size (impacts on all family types assessed, including singles, couples, and families with and without children)
federal  inequality 
september 2018 by badeconomist
Rise in corporate market power offers clues to feeble wage growth | Financial Times
Workers’ share of income has declined most in industries where the power is concentrated among just a few major players, says David Autor, an economics professor at the Massachusetts Institute of Technology. He and a team of researchers have argued that efficient “superstar firms” with small numbers of employees have been driving profit and sales growth, thereby reducing labour’s share of economic growth.

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The Big Read
US bull market continues to ride out Trump risks
One way to calculate how market power is measured is by analysing markups — that is, how much companies are selling their products and services above cost. In theory, as competition rises, prices fall as companies seek to attract customers. When a few large firms dominate, however, they are able to charge more. 

Economists Jan De Loecker of Princeton and Jan Eeckhout of University College London found that since 1980, companies have been doing just that. Average markups rose nearly 50 percentage points between 1980 and 2016 (from 10 per cent to 60 per cent).

The IMF is the most recent group to tackle the issue. In a working paper on the topic, analysts found evidence that “a rise in market power reduces the labour share”. They also said companies in concentrated sectors tend to invest less, so innovation also suffers. Companies with low markups spend more on innovation when markups increase, but at higher levels of markups, groups spend less on making new products.
marketpower  labour  inequality 
september 2018 by badeconomist
Canada’s richest families own as much wealth as 3 provinces combined: report - National | Globalnews.ca
Taken together, the country’s top 87 families hold $259 billion in wealth, just shy of the $269 billion in net assets collectively owned by everyone living in Newfoundland, New Brunswick and Prince Edward Island, including “all houses, cottages and other properties, all cars, every savings account in the region, RRSPs, pensions, etc.,” Macdonald writes.
inequality  super-rich  wealth 
july 2018 by badeconomist
Top 1% taking lion's share of global growth, OECD says | CBC News
In Canada, the top percentile of earners captured about 37 per cent of total growth in the last three decades, according to an analysis of tax filings by the OECD in 28 member countries with advanced economies.

Why the rich get richer and the poor get poorer
Amanda Lang answers your questions on income inequality and the 1%

That explains why economic growth is not leading to improved incomes for the rest of us – the 99 per cent, the study found.

The Organization for Economic Co-operation and Development paper urges governments to reconsider tax policies implemented in the past 30 years that have reduced the amount paid by the wealthiest income earners, as well as providing preferential treatment for capital gains and dividends, sources of income most likely to be held by the one per cent.

Canada is second only to the U.S. in its growing inequality. In the U.S., about 47 per cent of total growth went to the wealthiest one per cent between 1975 and 2007, compared to 37 per cent in Canada, while in Australia and the U.K., about 20 per cent of growth went to the wealthiest.

In Nordic countries and in France, Italy, Portugal and Spain, about 90 per cent of growth went to the 99 per cent of middle and low-income earners in the same period.
inequality  super-rich 
july 2018 by badeconomist
As Morneau tightens high-income tax rules, NDP candidates face a test | Financial Post
Erin Weir: So why should high income professionals get a tax break as "small businesses"? via @nationalpost
taxes  inequality  ndp 
july 2017 by badeconomist
B.C.’s inequality gap widens – and shapes the election campaign - The Globe and Mail
Jock Finlayson: “Those who are established in the market have all enjoyed an unearned windfall in wealth. It’s also tax free. How equitable is that, from the perspective of the 30 per cent of renters, or those who bought at top-dollar prices?”
bc  election  inequality  housing 
may 2017 by badeconomist
Dean Baker - Progressives Should Support Policies That Help All Working-Class People | Op-Eds & Columns | Publications | The Center for Economic and Policy Research
On trade this means policies designed to reduce the trade deficit.

Rather than demanding stronger and longer protections for Pfizer's patents and Microsoft's copyrights, we should be getting our trading partners to support a reduction in the value of the dollar in order to make our goods and services more competitive. If we can reduce the trade deficit by 1-2 percentage points of GDP ($180 billion to $360 billion) it will create 1-2 million manufacturing jobs, improving the labor market for the working class.

We should use trade to reduce the pay of doctors and other highly paid professionals. If we open the door to qualified professionals from other countries we can save hundreds of billions of dollars a year on health care and other costs, while reducing inequality.

We should also support policies that rein in the financial sector, such as reducing fees that pension funds pay to private equity and hedge funds and their investment advisors. This money comes out of the pockets of the rest of us and goes to some of the richest people in the country. A financial transactions tax, which could eliminate tens of billions of dollars spent each year on useless trades, would also be a major step towards reducing inequality.

Policies that put downward pressure on the pay of CEOs and other top executives would also help the working class. This could mean, for example, making it easier for shareholders to reduce CEO pay.
trump  inequality 
march 2017 by badeconomist
Portland Passes Tax On Businesses To Target Income Inequality . News | OPB
RT @KristinEberhard: PDX passes first tax in US for income #inequality: if CEO makes >100x more than workers, company pays more biz tax.
inequality  super-rich  portland  taxes 
december 2016 by badeconomist
Out of the Shadows: Shining a light on Canada’s unequal distribution of federal tax expenditures | David MacDonald CCPA
RT @CCPA_BC: A new study from our nat'l office shows Canada’s #TaxLoopholes are expensive, regressive & increase inequality
ccpa  taxes  inequality 
december 2016 by badeconomist
We must rethink globalization, or Trumpism will prevail | Thomas Piketty | Opinion | The Guardian
From this point of view, Ceta, the EU-Canada free trade deal, should be rejected. It is a treaty which belongs to another age. This strictly commercial treaty contains absolutely no restrictive measures concerning fiscal or climate issues. It does, however, contain a considerable reference to the “protection of investors”. This enables multinationals to sue states under private arbitration courts, bypassing the public tribunals available to one and all.
trade  globalization  inequality  trump  piketty 
november 2016 by badeconomist
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