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robertogreco : taxation   23

The Rebel Alliance: Extinction Rebellion and a Green New Deal - YouTube
"Extinction Rebellion and AOC’s Green New Deal have made global headlines. Can their aims be aligned to prevent climate catastrophe?

Guest host Aaron Bastani will be joined by journalist and environmentalist George Monbiot and economist Ann Pettifor."
extinctionrebellion  georgemonbiot  gdp  economics  capitalism  growth  worldbank  2019  greennewdeal  humanwelfare  fossilfuels  aaronbastani  climate  climatechange  globalwarming  mainstreammedia  media  action  bbc  critique  politics  policy  currentaffairs  comedy  environment  environmentalism  journalism  change  systemschange  left  right  thinktanks  power  influence  libertarianism  taxation  taxes  ideology  gretathunberg  protest  davidattenborough  statusquo  consumerism  consumption  wants  needs  autonomy  education  health  donaldtrump  nancypelosi  us  southafrica  sovietunion  democrats  centrism  republicans  money  narrative  corruption  diannefeinstein  opposition  oppositionism  emissions  socialdemocracy  greatrecession  elitism  debt  financialcrisis  collapse  annpettifor  socialism  globalization  agriculture  local  production  nationalism  self-sufficiency  inertia  despair  doom  optimism  inequality  exploitation  imperialism  colonialism  history  costarica  uk  nihilism  china  apathy  inaction 
4 weeks ago by robertogreco
Databite No. 62: Sha Hwang - YouTube
"Sha Hwang (@shashashasha) on building for the government in a time of precarity: Sha will discuss the ongoing work and discussions inside Nava as a way to open a conversation around the design of the government’s digital services for the public. He will use the architectural theorist Keller Easterling’s term “disposition” – the propensity of forms to produce actions – to understand what we encounter when we build with and for the government. These dispositions, both of the tech industry and the government, create a set of material constraints that shape issues around healthcare, taxation, and identity. This talk will discuss both the possibilities and implications of designing for the government, and the necessity of dialogue between research and practice. Nava is a public benefit corporation working to improve digital services at public-facing government agencies. It was formed out of the efforts to fix HealthCare.gov in late 2013, where Nava worked with the Centers for Medicare & Medicaid Services to streamline and redesign systems. Together they cut the time people take to submit an application in half and built an identity management backend system that has saved tens of millions of dollars in operating costs."
shahwang  nava  towatch  precarity  kellereasterling  2016  healthcare  government  taxation  identity  digitalservices  medicare  medicaid  healthcare.gov 
april 2016 by robertogreco
James Meek · Robin Hood in a Time of Austerity · LRB 18 February 2016
"How like the Middle Ages, if it were so. Behind the twisted rhetoric of a hardworking majority oppressed by a welfare-mad government, a modern version of the medieval world has been constructed, one where the real poor are taxed more heavily than the rich; where most of those who are not rich are burdened by an onerous roster of fees and monopolies levied by remote, unaccountable private landlords; and where many of us live out our lives shackled to an endless chain of private debt.

Since the Thatcher revolution in 1979, British governments have boasted of how they’ve lowered taxes. And they have, except for one section of society: the poorest 20 per cent. In 1977, the least well-off fifth of households paid 37 per cent of their gross income in direct taxes (like income tax) and indirect taxes (like VAT), against 38 per cent for the richest fifth. In 2014, the tax take from the poorest group had gone up to 37.8 per cent, while the taxes paid by the richest had gone down to less than 35 per cent.

Not only does this understate the extent of tax cuts for the top 1 per cent; it shows only part of the burden borne by the least well off. Piketty writes that ‘modern redistribution does not consist in transferring income from the rich to the poor, at least not in so explicit a way. It consists rather in financing public services and replacement incomes that are more or less equal for everyone, especially in the areas of health, education and pensions.’ This is a very cautious definition of the modern social state. Health, education and social security make up the lion’s share of public spending, but they’re intimately linked to a wider set of networks that includes energy, water and transport and, some would argue, should include housing. What these networks have in common is that society has decided they’re essential, and therefore should be universal – that is, we think everyone should have access to them, all the time. The significance of this is that, on the one hand, society takes on itself the obligation to give its poorest members access to these networks, which they wouldn’t otherwise be able to afford; and, on the other, payment to use these networks, if it isn’t funded out of general taxation, becomes in itself a tax, particularly when that network is a monopoly. In Britain, many of these universal networks, such as electricity and water, have been privatised, often twice – once to put them on the stock market, once to put them into the hands of overseas owners. Bills for these services have increased faster than inflation, and take little account of people’s ability to pay. It is the poorest, then, who as well as paying the heaviest combination of indirect and direct taxation bear the brunt of such hybrid public-private taxes as the water tax and the electricity tax.

Other universal networks, such as health and education, haven’t been privatised, but have been through another process that makes them ripe for the introduction of flat fees for usage in future. This process really got going under Labour, and it is a sign of the liberal left’s failure to recognise what it has done that there isn’t a name for it. One word to describe it might be ‘autonomisation’ – the process by which state-run bodies continue to be funded by the state but are run autonomously on a non-profit basis. So state secondary schools become academies, NHS hospitals become NHS foundation trusts, and council estates are transferred to housing associations. The British state is in a condition of rolling abdication, leaving behind a partly privatised, partly autonomised set of universal networks, increasingly run by absentee landlords in the form of global companies and overseas corporate investors, that is disproportionately funded by the poorest payers of taxes, fees and duties, many of whom are also deep in debt.

There is a cynical view which says that as long as the majority of the population feel they’re doing all right, a democratically elected government is safe to squeeze the poor and pamper the rich. But cynicism is a risky thing to rely on when a government is simultaneously cutting spending and shedding control of the universal networks on which its entire population relies. As Hobsbawm writes in Bandits, ‘concentration of power in the modern territorial state is what eventually eliminated rural banditry, endemic or epidemic. At the end of the 20th century it looks as though this situation might be coming to an end, and the consequences of this regression of state power cannot yet be foreseen.’ We’re a long way from the return of the literal outlaw to Nottinghamshire. But we need to remember the insight given our ancestors when they saw through the illusion of the Robin Hood myth, when they saw that the strongbox of silver coins wasn’t just money stolen from each of them individually, but power robbed from them collectively, and that they needed to wield that power collectively as much as they needed their money back. For sure, freedom to choose is a grand thing, and the market will try to help you exercise it. With a bit of money in the bank, a middle-class family might choose to send their child to private school, provided by the market; but that same family can’t choose to build and maintain a universal education network by itself, and the market won’t provide it. With money, you can choose to buy a car, and the market will provide it; but you can’t choose, all by yourself, to build and maintain a universal road network, and the market won’t provide it. To make and keep universal networks requires the authority of the state, an authority that has been absent; and it’s hard to see where that authority might come from if the people don’t find a way to assert their kingship."
2016  jamesmeek  capitalism  politics  policy  welfare  poor  class  rich  wealthdistribution  inequality  taxes  taxation  health  education  thomaspiketty  neoliberalism  autonomization  housing  uk  finance  davidcameron  margaretthatcher  ronaldreagan  stephenharper  us  canada  australia  marcorubio  georgeosborne  power  money  economics  labor  erichobsbawm  government  markets  universalnetworks  infrastructure  via:anabjain 
april 2016 by robertogreco
Universities Are Becoming Billion-Dollar Hedge Funds With Schools Attached | The Nation
" Students are beginning to urge divestment."



"All told, hedge funds have over $3 trillion worth of assets under management globally. In theory, they exist to provide a “hedge” to protect investor portfolios in tough times. Hedging, seen in this light, is simply one investment strategy among many. In practice, however, they are alternative investment vehicles that tend to be housed offshore to avoid oversight and taxes, which means they are largely unregulated, face minimal disclosure requirements, and can engage in all sorts of risky bets and market manipulations.

Not long ago universities were, in the words of one report, “careful stewards of endowment income” and avoided such shenanigans. In the early seventies Harvard and Yale spearheaded committees on investor responsibility and devised ethical investment policies for endowments that considered things like social impact. In the nineties things began to change. Many schools, private and public, have become high-risk gamblers, with finance overtaking fundraising as the main engine of endowment growth. A more aggressive approach to investing paid off—until the economy melted down and caused some endowments to lose up to 30 percent of their value.

But experts and activists have other concerns. Some commentators, for example, are troubled by public tax-exempt educational institutions doing business with companies notorious for dodging taxes in offshore havens. More generally, tax exemption is a giant government subsidy that disproportionately benefits elite schools (the ones that attract the biggest donations and earn the largest investment returns), thus further polarizing an educational system already separated into haves and have-nots.

And it gets worse. In a report called “Educational Endowments and the Financial Crisis,” Joshua Humphreys, president and senior fellow at Croatan Institute points to an even more disturbing consequence of risky investment practices. By embracing speculative trading tactics, exotic derivatives, hedge funds and private equity, “endowments played a role in magnifying certain systemic risks in the capital markets,” Humphreys writes. What’s more, their initial success encouraged other institutional investors (think pension funds, sovereign wealth funds, and foundations) to follow in their footsteps, amplifying the system’s overall volatility and instability. In other words, endowments were not just innocent victims of the 2008 financial crisis, but actually helped enable it.

“Hedge funds, as they were initially conceived, have a potential role to play in a long-term endowment seeking to ‘hedge’ certain risks,” Humphreys told me, making clear he’s hesitant to write them off entirely. “But their arbitrarily high fee structures, the excessive compensation of their managers, and their deliberate evasion of taxes and transparency make hedge funds easy targets for stakeholders rightly concerned about the simmering crisis of higher education today.”"



" The time has come for students to connect the dots between ballooning student debt, the poor treatment of campus workers, and the obscene wealth of hedge fund oligarchs. Once they do, they can fight back by following in the footsteps of recent mobilizations against the financial sector. In 2013, a group called Kick Wall Street Off Campus forced Minnesota’s Macalester College to move some, though not all, of its money out of Wells Fargo to protest the bank’s role in community foreclosures. In June of last year, Santa Cruz County pulled together to get its money out of five giant banks—including Citicorp and JPMorgan Chase and Barclays—that pleaded guilty in the spring to felony charges that they rigged the world’s foreign-currency market. Similar campaigns could easily be waged against university endowment partnerships with hedge funds.

Of course, kicking hedge funds of campus won’t solve the college crisis or instantly reform the financial sector. Nevertheless, targeting hedge funds remains a promising tactic for uniting students and workers against hedge funds’ efforts to increase inequality, and using our tuition dollars and public subsidies to do so. This tactic would be especially effective at public institutions where divestment campaigns should be coupled with calls for increased state funding for higher education and better pay for low-wage workers.

“It’s easy to feel powerless, but hedge funds need university endowments, just like they also need public pensions. If that money was taken away, it would really affect them,” Strain says, and he’s right. Campus divestment movements have a proven track record, going back to campaigns against Apartheid in the 1980s. Over the last few years, climate activists have pressured school trustees to divert trillions of dollars from fossil fuels, and last year Columbia became the first university to divest from private prisons. Hedge funds deserve to be next on the chopping block."
astrataylor  education  neoliberalism  2016  universities  colleges  endowments  divestment  finance  politics  money  hedgefunds  highered  highereducation  nonprofit  taxes  taxation  funding  inequality  ivyleague  harvard  princeton  stanford  yalconflisctsofinterest  nonprofits 
march 2016 by robertogreco
Why Harvard should be taxed ["Harvard is a 'hedge fund with a university attached to it'"] - Business Insider
"“The joke about Harvard is that it’s a hedge fund with a university attached to it,” Mark Schneider tells me. It’s a quip that, for obvious reasons, has become pretty popular in recent years.

In 2014, the university’s legendary endowment, overseen by a team of in-house experts and spread across a mind-bending array of investments that range from stocks and bonds to California wine vineyards, hit $36.4 billion.

“They’re just collecting tons, and tons, and tons of money,” says Schneider, a former Department of Education official who is currently a fellow at the American Institutes for Research.

Of course, normal hedge funds have to pay taxes on their earnings. Because it’s a nonprofit, Harvard doesn’t. And since bestowing tax exemptions is the same as spending cash from the government’s perspective (budgeteers call them “tax expenditures” for a reason), that means the American public effectively subsidizes Harvard’s moneymaking engine.

The same goes for Stanford (endowment: $21.4 billion), Princeton (endowment: $21 billion), Yale (endowment$23.9 billion), and the country’s other elite institutions of higher education.

Aiding wealthy research universities that cater to largely affluent undergraduates might have been acceptable in a more flush era. But at a time when state colleges are still suffering from deep budget cuts that have driven up tuition and politicians are stretching for ways to make school more affordable for middle-class students, clawing back some of that cash to spend on needier schools is starting to sound awfully appealing. Which is why it might just be time to start taxing Harvard and its cohort.

This isn’t a new idea by any stretch—in 2008, lawmakers in Massachusetts considered slapping a 2.5 percent tax on large university endowments—but Schneider has made an especially intriguing case for it."



"Another quandary: Today, the government generally doesn’t tax savings. It taxes income. So why take a cut of wealth from colleges when we don’t do it to individuals? As Kim Rueben, a senior fellow at the Tax Policy Center, put it to me, “We’re going to tax Harvard, but we’re not going to tax Warren Buffet?”

And, of course, there might be unintended consequences. Even with write-offs for financial aid, taxing endowments could encourage schools to spend less on things society generally likes, such as new research labs. The government could tax schools and require them to spend a minimum amount, which is how it treats private foundations. But then you have to consider to what creative lengths Harvard might go to avoid the IRS.

Cutting down the tax advantages of rich schools, obviously, would not be simple. But it still worth seriously considering the idea. Maybe we should consider taxing the Met as well. Maybe the government could stick to what it knows and tax Harvard’s capital gains instead of its whole endowment. Maybe we could learn to live with a little tax avoidance. However we choose to do it, I think we’d all like to spend a little less money sending other people’s kids to Harvard."
colleges  highered  highereducation  nonprofit  universities  money  finance  taxes  taxation  funding  inequality  ivyleague  harvard  endowments  princeton  stanford  yale  charitableindustrialcomplex  philanthropy  government  hedgefunds  jordanweissmann  philanthropicindustrialcomplex  nonprofits  capitalism  power  control 
february 2016 by robertogreco
Silicon Valley’s New Philanthropy - The New York Times
"THE enduring credo of Silicon Valley is that innovation, not money, is its guiding purpose and that world-changing technology is its true measure of worth.

Wealth is treated as a pleasant byproduct, a bit like weight loss after rugged adventure travel.

The tech world is home to some of the planet’s wealthiest entrepreneurs and most dynamic philanthropists, 21st-century heirs to Carnegie and Rockefeller who say they can apply the same ingenuity and zeal that made them rich to making the rest of the world less poor. San Francisco also has one of the highest levels of income inequality in the nation, with the wealth distortion most concentrated among the very people who are driving the economy as a whole.

A similar paradox seeps into philanthropy. Tech entrepreneurs believe their charitable giving is bolder, bigger and more data-driven than anywhere else — and in many ways it is. But despite their flair for disruption, these philanthropists are no more interested in radical change than their more conservative predecessors. They don’t lobby for the redistribution of wealth; instead, they see poverty and inequality as an engineering problem, and the solution is their own brain power, not a tithe.

As Marc Andreessen, the venture capitalist and philanthropist who invested in, among other things, Twitter and Airbnb, put it in a Twitter post: “Thanks to Airbnb, now anyone with a house or apartment can offer a room for rent. Hence, income inequality reduced.”

Increasingly, though, idealistic tech leaders find themselves giving back to a world that complains that they took too much in the first place. The skepticism is all the more wounding because some tech luminaries ardently believe their businesses can solve social ills."



"But second-guessing in Silicon Valley is a pesky inevitability. As Mark Zuckerberg, the chief executive of Facebook, put it at a Vanity Fair tech conference in San Francisco in October, “Basically, everything impactful you want to do has some controversy.”

In Silicon Valley, there is pious disdain for Wall Street’s showy, status-seeking ways of giving. “The primary reason my wife and I give to charity is to accomplish some change in the world,” said Elie Hassenfeld, who quit his job at a hedge fund to help create GiveWell, a San Francisco-based charity-evaluating service that guides the philanthropical choices of, among others, Dustin Moskovitz, one of the founders of Facebook. “We don’t attend galas or give to my alma mater.”

Those may not be such big distinctions. “There is a bit of delusion in Silicon Valley that they are not like the other rich because their technology is ‘making the world a better place,’ ” said Steve Hilton, a former aide to Prime Minister David Cameron of Britain and a co-founder of Crowdpac.com, a political start-up. “But McDonald’s and Walmart also think that their businesses help society. Walmart says it lowers the cost of living for poor families. All corporations think they are having a positive impact.”"



"“The techno-utopianism of hackers has already transformed our lives,” Mr. Parker wrote. “But the greatest contribution that hackers make to society may be yet to come — if we are willing to retain the intellectual and creative spirit that got us this far.”

Bay Area nonprofits pride themselves on efficiency and “scalability,” applying sophisticated metrics to assess the success of social programs. Give Directly, for example, is a charity that uses cellphones to give unconditional cash transfers to poor people in Africa without government bureaucracy, corruption or costly overhead. The program relied on a 2013 study in rural Kenya that used satellites to distinguish thatched roofs from tin ones, because villagers with thatched roofs are poorer. It also monitored how the income was spent and even how it made recipients feel: the villagers’ saliva was collected to see if their cortisol levels decreased, a sign of reduced stress. The report concludes: “We document a 0.19SD increase in happiness.”

Back home, happiness is in the eye of the beholder. “There’s a lot of giving and impact investment and caring, but those people are not looking to change the fundamental rules of how power operates,” said Michael Gast, a consultant for social justice nonprofits in Oakland.

The disaffection isn’t merely manifested in a few protesters blocking Google shuttle buses or in Tesla-hating, or in labor unions fighting the “sharing economy.” Nor is it just the economists who complain that tech companies like Google and Facebook are monopolies — the Standard Oils of the moment.

Academics and relief workers have been grumbling for a while about so-called philanthrocapitalists who try to micromanage their giving. The writer David Rieff questions the tech-centric approach to fighting global poverty of the Gates Foundation in a new book, “The Reproach of Hunger.” In “The Prize,” the journalist Dale Russakoff looks at what went wrong with Mr. Zuckerberg’s $100 million gift to Newark to resurrect its schools.

And the transformative power of Silicon Valley is slapped down by one of its own in “Geek Heresy: Rescuing Social Change From the Cult of Technology,” written by a Microsoft apostate, Kentaro Toyama.

Rob Reich, a political-science professor at Stanford who is also a co-director of the Stanford Center for Philanthropy and Civil Society, notes that the tax deduction that comes with a billionaire’s grant to charter schools is essentially money that won’t be spent on public schools, calling Silicon Valley largess “an exercise of power that is unaccountable, nontransparent and tax-subsidized.”

While tech titans champion efforts to strengthen the social safety net for the most disadvantaged, many express less concern for the stagnating middle class. Alec Ross, who was an innovation adviser to Hillary Rodham Clinton when she was secretary of state and is the author of “The Industries of the Future,” notes that entrepreneurs privately complain about workers, skilled and unskilled, who haven’t kept pace with the new tech-based economy.

“You hear derision for the working- and middle-class people who think that their education ends at the age of 22,” Mr. Ross said. “People who want their work to stay the same without doing anything to improve themselves.”

Nor is there much talk in these circles about taxing the rich to even the playing field. A few tech billionaires like Reed Hastings, a Netflix founder, have said they support raising taxes on the wealthy. There are many more who don’t publicly oppose a tax increase but feel they are paying plenty already. There is also a libertarian streak in parts of Silicon Valley that allows some to believe they can spend their tax dollars better than the government ever will.

There are, of course, some in Silicon Valley who blend tech savoir faire with old-school Carnegie-style philanthropy."
philanthropy  2015  siliconvalley  technolosolutionism  charity  nonprofits  inequality  middleclass  marbenioff  marcandreesen  marksukerberg  billgates  gatesfoundation  wallstreet  seanparker  economics  taxes  taxation  robreich  nonprofit 
november 2015 by robertogreco
Living in Switzerland ruined me for America and its lousy work culture - Vox
"Here are seven ways living abroad made it hard to return to American life.

1) I had work-life balance…

2) I had time and money …

3) I had the support of an amazing unemployment system …

4) I witnessed what happens when countries impose wealth-based taxes …

5) I had lots of paid vacation time and was never made to feel guilty about taking it …

6) I never had to own a car …

7) I had excellent health care when I gave birth — and then enjoyed a fully paid 14-week maternity leave …"
us  economics  well-being  switzerland  work  culture  society  2015  chantalpanozzo  vacation  employment  unemployment  taxes  taxation  inequality  qualityoflife  work-lifebalance 
july 2015 by robertogreco
Broad-Based Wage Growth Is a Key Tool in the Fight Against Poverty | Economic Policy Institute
"Over the last three-and-a-half decades, progress in reducing poverty has been painfully slow despite significant gains in economic productivity and average incomes. During the same time period, the inflation-adjusted wages of most low- and middle-income households have been essentially stagnant, which is the root cause of rising income inequality.

A primary objective of the Economic Policy Institute’s Raising America’s Pay initiative is to expose the roots of growing inequality and demonstrate inequality’s real, adverse effects on low- and middle-income households (Bivens et al. 2014). In this paper, we explore how wage stagnation and growing inequality have undermined progress in reducing poverty.

Between 1979 and 2013, hourly wage growth stagnated for the vast majority—even while those at the bottom relied increasingly heavily on their wages to make ends meet. At the same time, the vast majority of annual earnings increases for the bottom fifth were due to increasing work hours, not rising hourly wages. Income inequality over this period also increased—largely due to stagnant wages for low- and middle-income households—and became the single most important factor in the increase in poverty.

To show the significance of wage growth in reducing poverty, we simulate what would have happened to poverty rates had we experienced broad-based wage growth from 1979 to 2013. We first examine the effects on poverty had wage inequality not increased since 1979 (i.e., had everyone’s wages grown at the same rate as average wages). Next we examine how the poverty rate would have been lower had economic gains been broadly shared (i.e., had all wages grown at the same rate as economy-wide productivity). Both simulations show that we could achieve real gains in poverty reduction by ensuring that lower-income workers are able to share in our country’s economic growth. And even these projected gains likely understate the extent to which a full-employment economy could alleviate poverty, as it would disproportionately benefit low-wage workers. Had wages grown in tandem with productivity over 1979–2013 and if the economy were at full employment, the non-elderly market-based poverty rate (i.e., the poverty rate for Americans under age 65 before safety-net supports are taken into account) would be 4.2 percentage points lower. This means that 11.2 million fewer people would be in poverty.

These simulations show that increasing inequality, stagnant wages, and chronic shortfalls in labor demand have come at a serious cost to poverty-reduction efforts. Indeed, the economy’s failure to deliver gains to low-wage workers in recent decades means that the tax-and-transfer system is responsible for all of the progress made in poverty reduction since 1967. To boost the pace of poverty reduction going forward, fiscal transfers that help low-income families almost surely need to be accompanied by policies to foster widely shared wage growth. In fact, the simulated 4.2 percentage-point poverty-rate decline from using full employment and broad-based wage growth to reduce poverty is more than half as large as the poverty reduction from our entire range of anti-poverty programs.

Without wage gains, the tax-and-transfer system needs to work harder every year simply to keep poverty rates from increasing. We argue that a policy agenda to fight poverty must include an agenda to raise wages. This agenda should include raising the minimum wage, setting a new overtime threshold, eliminating wage theft, strengthening workers’ collective bargaining rights, and targeting full employment.

The paper’s key findings include: [continues]"
poverty  inequality  us  economics  2015  productivity  policy  wages  income  taxes  taxation  wealthtransfer  labor  work  elisegould  alyssadavis  willkimball 
may 2015 by robertogreco
Why Should We Support the Idea of an Unconditional Basic Income? — Working Life — Medium
[Section titles: ]

"What would you do?
Didn’t they try this in Russia?
The magic of markets
Can we really improve capitalism or is this just theory?
Larger rewards lead to poorer performance.
Capitalism 2.0 sounds great and all but can we afford it?
Okay, it’s affordable… but wouldn’t people stop working?
But still, what about those few who WOULD stop working?
Why would (insert who you dislike) ever agree to this?"
universalbasicincome  capitalism  communism  economics  markets  2014  scottsantens  namibia  poverty  danielpink  productivity  power  choice  workweek  hours  thomaspiketty  psychology  motivation  canada  seattle  denver  1970s  taxes  taxation  inequality  alaska  mincome  employment  unemployment  work  labor  freedom  empowerment  ubi 
february 2015 by robertogreco
The Coming Showdown Over University Endowments: Enlisting the Donors [.pdf]
"This Essay focuses on the discordance between universities with particularly large endowments and what is occurring in the rest of higher education, particularly with respect to skyrocketing tuition and a growing institutional wealth gap. The Essay considers absolute endowment values, the amount of endowment per student, and expense-endowment ratios at sixty private universities. It concludes that a small number of schools have an excess endowment, and then provides a convenient proxy for determining when an endowment is so large that it should receive less preferential tax treatment. The Essay then considers the effects that large endowments have at their home institutions and throughout higher education, the arguments in defense of large endowments, and some frequently proposed modifications to the tax code. The Essay recommends that policymakers modify the charitable deduction for gifts to universities with mega-endowments, as part of a multifaceted effort to spur endowment spending and control tuition."

[See also: https://pinboard.in/u:robertogreco/b:5dcd8b659f56 ]
sarahwaldeck  charities  nonprofit  2009  law  legal  finance  universities  colleges  wealth  taxation  taxes  endowments  charity  nonprofits 
december 2014 by robertogreco
Our Work Here Is Done: Visions of a Robot Economy [.pdf]
"The essays in this volume address a number of possibilities for how the proceeds of a robot revolution might be redistributed. Notably, Noah Smith’s piece argues for a universal basic income for everyone, paid for from the proceeds of robot–enhanced productivity.

What is clear is that if automation necessitates a big shift in how we tax, it offers an opportunity to start taxing more sensible things. Economists have long argued for taxing land, carbon emissions and other bads, rather than taxing work. If there is less work about in the future, this may be the chance to make a change.

There is also the question of how we share out the rewards of a robot economy. We may not yet be ready for a universal basic income, since at least for the time being so many people’s conception of (their own and others’) value to society is bound up in work. But it is surely worth making policies to encourage ownership of robots is widely dispersed. The simplest way to make sure everyone has a stake in robots is to encourage widespread pension ownership – so that people own shares in the companies that own the robots.

But if the riches of automation are really as abundant as some people think they are, we could go further, and learn a lesson from the few countries that have dealt well with natural resource riches, like Norway and Alaska, by establishing a national endowment to hold wealth on behalf of citizens. The proceeds of this could be used to pay an annual dividend to citizens (as in Alaska) or to invest in future productivity (as has been proposed in Norway)."
universalbasicincome  labor  robot  income  taxation  taxes  economics  2014  nesta  change  jsutice  future  competition  cooperation  ryanavent  noahsmith  francescoppola  alanwinfield  nickhawes  ertruitt  jonturney  izabellakaminska  georginavoss  machines  slavery  edwardskidelsky  frederickguy  tessreidy  steverandywaldman  machineage  power  wages  ubi 
june 2014 by robertogreco
Richard Wolff presents Democracy at Work: A Cure for Capitalism at the Baltimore Radical Bookfair - YouTube
"Called the leading social economist in the nation by Cornel West, Richard D. Wolff, professor of economics at the New School, host of WBAI's "Economic Update," and prominent critic of capitalism lays out his vision for a world without bosses, in which workers run their own workplaces democratically."

[More on Mondragon:
http://www.theguardian.com/commentisfree/2012/jun/24/alternative-capitalism-mondragon
http://en.wikipedia.org/wiki/Mondragon_Corporation ]
richardwolff  democracy  economics  capitalism  hierarchy  hierarchies  horizontality  labor  2012  unions  organizaedlabor  socialism  communism  inequality  history  unemployment  newdeal  fdr  socialsafetynet  society  government  taxes  taxation  egalitarianism  mondragon  spain  españa  greatdepression  greatrecession  recessions 
april 2014 by robertogreco
Trevor Paglen: Turnkey Tyranny, Surveillance and the Terror State - Guernica / A Magazine of Art & Politics
"A few statistics are telling: between 1992 and 2007, the income of the 400 wealthiest people in the United States rose by 392 percent. Their tax rate fell by 37 percent. Since 1979, productivity has risen by more than 80 percent, but the median worker’s wage has only gone up by 10 percent. This is not an accident. The evisceration of the American middle and working class has everything to do with an all-out assault on unions; the rewriting of the laws governing bankruptcy, student loans, credit card debt, predatory lending and financial trading; and the transfer of public wealth to private hands through deregulation, privatization and reduced taxes on the wealthy. The Great Divergence is, to put it bluntly, the effect of a class war waged by the rich against the rest of society, and there are no signs of it letting up."



"…the effects of climate change will exacerbate already existing trends toward greater economic inequality, leading to widespread humanitarian crises and social unrest. The coming decades will bring Occupy-like protests on ever-larger scales as high unemployment and economic strife, particularly among youth, becomes a “new normal.” Moreover, the effects of climate change will produce new populations of displaced people and refugees. Economic and environmental insecurity represent the future for vast swaths of the world’s population. One way or another, governments will be forced to respond.

As future governments face these intensifying crises, the decline of the state’s civic capacities virtually guarantees that they will meet any unrest with the authoritarian levers of the Terror State. It won’t matter whether a “liberal” or “conservative” government is in place; faced with an immediate crisis, the state will use whatever means are available to end said crisis. When the most robust levers available are tools of mass surveillance and coercion, then those tools will be used. What’s more, laws like the National Defense Authorization Act, which provides for the indefinite detention of American citizens, indicate that military and intelligence programs originally crafted for combating overseas terrorists will be applied domestically.

The larger, longer-term scandal of Snowden’s revelations is that, together with other political trends, the NSA’s programs do not merely provide the capacity for “turnkey tyranny”—they render any other future all but impossible."
trevorpaglen  surveillance  terrorism  2013  edwardsnowden  climatechange  authoritarianism  thegreatdivergence  disparity  wealth  wealthdistribution  tyranny  global  crisis  society  classwar  class  deregulation  privatization  taxes  taxation  unions  debt  economics  policy  politics  encarceration  prisons  prisonindustrialcomplex  militaryindustrialcomplex  socialsafetynet  security  terrorstate  law  legal  secrecy  democracy  us  martiallaw  freedom  equality  fear  civilliberties  paulkrugman  environment  displacement  socialunrest  ows  occupywallstreet  refugees 
june 2013 by robertogreco
Britain can no longer afford to bankroll the rich | Nick Cohen | Comment is free | The Observer
"The Anglo-American model works for the few, not the many. We have yet to come to terms with how strange as well as unjust it has become.

In most recessions, societies become more equal. Unemployment may rise and wages stagnate. But the gap between the top and the rest narrows as those with the most to lose lose the most. In our time, the gap is widening, and I am tired of hearing lectures on how we can do nothing about it from supporters of the status quo, who have been wrong about everything for years.

The rise of the plutocracy is not the inevitable result of irresistible global forces. Politicians and central bankers have decided of their own free will to create a world in which the majority is left behind. I'll pass over the catastrophe of the eurozone – what is there left to say about it, after all? – and concentrate on Britain."



"The unstoppable march of the wealthy has two consequences we should talk about more. When rich parents can buy internships for their children at school auctions, the elite becomes closed to outsiders. Chrystia Freeland, an observant chronicler of the plutocracy, said last week that the political power of the top 1% will grow as inequality increases and its reactionary views will become ever more influential."



"The real charge against a future dominated by the super-rich, however, is not that it will be as asinine as Tudor Jones or that it will be cruel and immoral – although it will be all those things – but that it won't work.

Joseph Stiglitz and others have been arguing to the point of exhaustion that the working and middle classes are more likely to spend to keep the economy moving and hence to produce jobs for the abandoned young. More wealth for the wealthy generates more frequent and more severe booms and busts. This is not a future worth having but it is the future we are getting. The experience of the west since the crash has taught us that the rich are always with us. The novel question for today is: can the rest of society afford them?"
nickcohen  josephstiglitz  economics  2013  uk  us  wealth  wealthdistribution  recessions  trickledowneconomics  trickledown  disparity  inequality  plutocracy  power  politics  taxation  taxes  booms  busts 
june 2013 by robertogreco
23 Things They Don't Tell You About Capitalism - YouTube
"Development economics expert Ha-Joon Chang dispels the myths and prejudices that have come to dominate our understanding of how the world works in a lecture at the RSA."
ideology  taxes  taxation  freemarkets  growth  regulation  trickledowneconomics  inequality  wealthcreation  financialcrisis  myths  via:chrisberthelsen  2010  economics  capitalism  ha-joonchang 
february 2012 by robertogreco
Et tu, Mr. Destructo?: Fuck You, Warren Buffett
"Then again, perhaps you've done enough. Negative Nancies might argue that philanthropy is simply the right hand of capitalism, its moral pressure valve, divesting The Super Rich of their guilt over the means by which they hoard wealth, offering the public carefully staged signs of humanity in an otherwise mechanistic and amoral system, but I like to think of it as good folks pitching in.

Perhaps then it's time to return to divesting yourself of your billion-dollar fortune before you die. Funding the charities of your choice affords you a philanthropic immortality, keeping your hand on the levers of power and advancement long after death, while keeping that fortune away from the predatory and anonymizing hands of the American Estate Tax."
warrenbuffett  power  money  capitalism  2011  taxes  taxation  government  philanthropy  via:javierarbona  ethics  elite  lobbying  charitableindustrialcomplex  philanthropicindustrialcomplex  control 
august 2011 by robertogreco
The Great Ephemeralization | Bottom-up
"Paul Graham & Reihan Salam have been popularizing term “ephemeralization”, originally coined by Bucky Fuller, to describe process whereby special-purpose products are replaced by software running on general-purpose computing devices. As list above suggests, ephemeralization is affecting a growing fraction of the economy. & w/ technologies like self-driving cars on the horizon, its importance will only grow in the coming decades.

Ephemeralization offers an alternative explanation for the puzzling growth slowdown of the last decade. Every time the software industry displaces a special purpose device, our standard of living improves but measured GDP falls. If what you care about is government revenue, this point might not matter much—it’s hard to tax something if no one’s paying for it. But the real lesson here may not be that the US economy is stagnating, but rather that the government is bad at measuring improvements in our standard of living that come from software industry."
technology  internet  politics  history  economics  gdp  productivity  growth  2011  ephemeralization  buckminsterfuller  paulgraham  tylercowen  reihansalam  books  timothylee  taxation  taxes  govenment  metrics  measurement  via:jeeves 
june 2011 by robertogreco
Tax property, not people, for a fairer society | Business | The Guardian
"Levies on land values do not depress or distort wealth creation and are easy to assess, cheap to collect and hard to avoid"<br />
<br />
"So not only do we get a tax that is easy and cheap to collect, it would be difficult for the super rich to avoid with their offshore trusts and company ownership structures, and it would also lower the value of the asset that is stifling social mobility – property."
2011  taxes  taxation  propertytax  property  land  society  fairness  wealth  power  control  vat  europe  oecd  lvt  landvaluetax 
may 2011 by robertogreco
Why the Creator of 'The Wire' Turned the Camera to New Orleans | | AlterNet
"Simon: I'm a socialist. I'm not a Marxist, but I am a socialist. You hear these sons of bitches invoke socialism to suggest that we shouldn't have an actuarial group of 300 million people and keep all of us a little more healthy by sharing. It's a thoughtless triumph of ignorance.

Both parties fear telling the truth. The collapse of all democratic integrity over taxes is near complete. I'm making a lot of money. I should be paying a lot more taxes. I'm not paying taxes at a rate that is even close to what people were paying under Eisenhower. Do people think America wasn't ascendant and wasn't an upwardly mobile society under Eisenhower in the '50s? Nobody was looking at the country then and thinking to themselves, "We're taxing ourselves into oblivion." Yet there isn't a politician with balls enough to tell that truth because the whole system has been muddied by the rich. It's been purchased."
davidsimon  taxes  politics  us  treme  thewire  police  crime  lawenforcement  drugs  prisons  neworleans  nola  baltimore  2011  interviews  socialism  marxism  sharing  taxation  disparity  healthcare  health  policy  corruption  democracy  democrats  money  prosperity  income  incomegap  society  dwightdeisenhower 
may 2011 by robertogreco
Why the Creator of 'The Wire' Turned the Camera to New Orleans | | AlterNet
"Simon: I'm a socialist. I'm not a Marxist, but I am a socialist. You hear these sons of bitches invoke socialism to suggest that we shouldn't have an actuarial group of 300 million people and keep all of us a little more healthy by sharing. It's a thoughtless triumph of ignorance.

Both parties fear telling the truth. The collapse of all democratic integrity over taxes is near complete. I'm making a lot of money. I should be paying a lot more taxes. I'm not paying taxes at a rate that is even close to what people were paying under Eisenhower. Do people think America wasn't ascendant and wasn't an upwardly mobile society under Eisenhower in the '50s? Nobody was looking at the country then and thinking to themselves, "We're taxing ourselves into oblivion." Yet there isn't a politician with balls enough to tell that truth because the whole system has been muddied by the rich. It's been purchased."
davidsimon  taxes  politics  us  treme  thewire  police  crime  lawenforcement  drugs  prisons  neworleans  nola  baltimore  2011  interviews  socialism  marxism  sharing  taxation  disparity  healthcare  health  policy  corruption  democracy  democrats  money  prosperity  income  incomegap  society  dwightdeisenhower 
may 2011 by robertogreco
Boston Review — David Bollier and Jonathan Rowe: The 'Illth' of Nations
"Current beliefs about economic freedom emerged in West during 17&18th centuries…entrepreneurs were challenging the remnants of feudalism, & private property stood as a symbol of freedom against arrogant royal rule. …yesterday’s answer became today’s problem. Today it is private property, as embodied in corporation, that has become arrogant…solution is not all-encompassing state—authoritarian “we” that has been the reactive refuge of Left. Regulation there must be; but there must also be a different kind of property—common property—that exists alongside the market, providing a buffer against its excesses & producing what the corporate market can’t.

As market culture intrudes ever-deeper into daily life—from public spaces to the inner lives of kids— there is a yearning for space that is beyond the reach of buying & selling. People might not use the word “commons;” but they seek increasingly what it represents—community, freedom, & the integrity of natural & social processes."
economics  anarchism  marxism  via:javierarbona  davidbollier  freedom  jonathanrowe  illth  growth  property  perspective  commons  privateproperty  we  autoritarianism  left  politics  policy  commonproperty  excess  scarcity  abundance  future  wealth  culture  society  progress  community  intefrity  social  distribution  markets  marketfundamentalism  local  gdp  work  prosperity  well-being  affluence  income  incomegap  redistribution  taxes  taxation  wealthdistribution 
april 2011 by robertogreco
Energy prices: Tax away vulnerability | The Economist
"There are any number of good reasons to raise the petrol tax rate. The current rate no longer brings in enough money to cover current highway spending. Petrol taxes are an efficient way to raise revenue, and the government needs revenue; President Obama's deficit commission recommended an increase in the federal petrol tax rate. Burning oil produces carbon emissions, and dearer fuel would reduce America's sky-high per capita carbon footprint. But a higher tax rate would also diminish the possibility that a sudden rise in oil prices would throw the economy into recession. That would be a nice risk to minimise! And yes, higher tax rates would hit consumers just like rising oil prices. But those prices are rising anyway; better to capture the revenue and use it, all while improving behaviour.<br />
<br />
It's hard to take any fiscal hawk seriously so long as this measure isn't on the table. It's as close to a win-win solution as one is likely to find."
energy  2011  oil  tax  taxation  taxes  us  vulnerability  economics 
february 2011 by robertogreco

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