Public finance is the study of the role of the government in the economy. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold, consisting of governmental effects on:
- The efficient allocation of available resources;
- The distribution of income among citizens; and
- The stability of the economy.
There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income and wealth inequality measured using the distribution of wealth. Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people.
Chuck Collins is an author and a senior scholar at the Institute for Policy Studies in Washington, DC, where he directs the Program on Inequality and the Common Good. He is also co-founder of Wealth for Common Good. He is an expert on economic inequality in the US, and has pioneered efforts to bring together investors and business leaders to speak out publicly against corporate practices and economic policies that increase economic inequality.
A wealth tax is a tax on an entity's holdings of assets. This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts. Typically, liabilities are deducted from an individual's wealth, hence it is sometimes called a net wealth tax.
Kentuckians for the Commonwealth (KFTC) is a grassroots community organization under the original name of the Kentuckian Fair Tax Coalition. It began when 26 people from 12 countries met in Hazard on August 17, 1981. Though statewide, KFTC has deep roots in eastern Kentucky where coal mining remains the dominant industry. KFTC is a multi-issue organization of working-class families, with a history of working for land reform, environmental justice, and low income assistance programs. In the 1980s, KFTC was part of a campaign to end strip mining using the broad form deed and has since continued to provide support to the Appalachian region. Joe Szakos was one of the founding organizers.
Global Exchange was founded in 1988 and is an advocacy group, human rights organization, and a 501(c)(3) organization, based in San Francisco, California, United States. The group defines its mission as, "to promote human rights and social, economic, and environmental justice around the world." Global Exchange deals with a wide range of issues, ranging from the U.S. war in Iraq to worker abuse and fair trade issues.
Laurence Jacob Kotlikoff is a Professor of Economics at Boston University, a William Warren Fairfield Professor at Boston University, a Fellow of the American Academy of Arts and Sciences, a Research Associate of the National Bureau of Economic Research, a Fellow of the Econometric Society, and a former Senior Economist on the President's Council of Economic Advisers.
The economic impact of immigration is an important topic in Canada. Two conflicting narratives exist: 1) higher immigration levels help to increase economy (GDP) and 2) higher immigration levels decreases GDP per capita or living standards for the resident population and leads to diseconomies of scale in terms of overcrowding of hospitals, schools and recreational facilities, deteriorating environment, increase in cost of services, increase in cost of housing, etc. A commonly supported argument is that impact on GDP is not an effective metric for immigration. Another narrative for immigration is replacement of the ageing workforce. However, economists note that increasing immigration rates is not an effective strategy to counter this entirely. Policy Options found that mass immigration has a null effect on GDP. Increased immigration numbers and the associated soaring housing prices has significantly contributed to the rise of inflation in 2021 to the highest in 18 years.
The United Church of Christ is a Christian denomination. Periodically, bodies within the United Church of Christ issue resolutions for various reasons. These statements may or may not be representative of the United Church of Christ. This article documents notable resolutions from the various formal bodies of the United Church of Christ.
Income inequality in the United States is the extent to which income is distributed in differing amounts among the American population. It has fluctuated considerably since measurements began around 1915, moving in an arc between peaks in the 1920s and 2000s, with a 30-year period of relatively lower inequality between 1950 and 1980.
The Coalition for Humane Immigrant Rights, also known as CHIRLA, is a Los Angeles county-based organization focusing on immigrant rights. While the organization did evolve from a local level, it is now recognized at a national level. The Coalition for Humane Immigrant Rights of Los Angeles organizes and serves individuals, institutions and coalitions to build power, transform public opinion, and change policies to achieve full human, civil and labor rights. The Coalition for Humane Immigrant Rights of Los Angeles also has aided in passing new laws and policies to benefit the immigrant community regardless of documented status.
The Economic History of Zimbabwe began with the transition to majority rule in 1980 and Britain's ceremonial granting of independence. The new government under Prime Minister Robert Mugabe promoted socialism, partially relying on international aid. The new regime inherited one of the most structurally developed economies and effective state systems in Africa. In 2000, the government imposed a land reform program to seize white-owned farms which caused the economy to shrink along with mismanagement, corruption and political instability.
Redistribution of income and wealth is the transfer of income and wealth from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals.
The economic policy of the Barack Obama administration, or "Obamanomics" was characterized by moderate tax increases on higher income Americans, designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's first term (2009–2013) included measures designed to address the Great Recession and subprime mortgage crisis, which began in 2007. These included a major stimulus package, banking regulation, and comprehensive healthcare reform. As the economy improved and job creation continued during his second term (2013–2017), the Bush tax cuts were allowed to expire for the highest income taxpayers and a spending sequester (cap) was implemented, to further reduce the deficit back to typical historical levels. The number of persons without health insurance was reduced by 20 million, reaching a record low level as a percent of the population. By the end of his second term, the number of persons with jobs, real median household income, stock market, and real household net worth were all at record levels, while the unemployment rate was well below historical average.
Betsy Leondar-Wright is an American economic justice activist, sociologist, and author, who writes on class and economic inequality.
Tax policy and economic inequality in the United States discusses how tax policy affects the distribution of income and wealth in the United States. Income inequality can be measured before- and after-tax; this article focuses on the after-tax aspects. Income tax rates applied to various income levels and tax expenditures primarily drive how market results are redistributed to impact the after-tax inequality. After-tax inequality has risen in the United States markedly since 1980, following a more egalitarian period following World War II.
The following outline is provided as an overview of and topical guide to politics and political science:
The National Immigration Law Center (NILC) is a center in the United States that "engages in policy analysis, litigation, education and advocacy, to achieve [the] vision" of "a society in which all people—regardless of race, gender, immigration or economic status—are treated fairly and humanely." They claim to concentrate on social, economic, and racial justice for low-income immigrants. They have offices in Washington, D.C. as well as in Los Angeles and Oakland, California. Their executive director is Marielena Hincapié.
John Delaney is a Democrat who served as the U.S. Representative representing Maryland's 6th congressional district from 2013 to 2019. He announced his 2020 campaign for President of the United States on July 28, 2017. He suspended his campaign on January 31, 2020.
The Ultra-Millionaire Tax Act of 2021 is a proposed bill in the United States Congress, which would impose a tax on the wealth of the top 0.05% of Americans. The act was proposed and introduced by Senator Elizabeth Warren (D-Mass), Representative Pramila Jayapal, and Representative Brendan Boyle. The bill mandates that any household or trust with any net worth between $50 million to $1 billion will be taxed 2% of their net worth annually and any household or trust surpassing $1 billion will have a surtax of 1%. Senator Warren expects the bill to raise $3 trillion in revenue over the next 10 years.
