Oct 17, 2017

GOP corporate tax cuts benefit the wealthy, but could help workers too

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Warren on economists criticizing her wealth tax: "They're just wrong"

Sen. Elizabeth Warren said at the Democratic debate Thursday that economists who claim her wealth tax proposal would stifle growth and investment are "just wrong."

Why it matters: Warren's riff on the wealth tax, in which she emphasized how "a two cent tax" on fortunes of $50 million and above, has become a core part of her stump speech.

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Keep ReadingArrowDec 20, 2019

New York City's mansion tax impacts housing cost

Manhattan sunset, seen in September from Arthur Ashe Stadium in Queens, home of the U.S. Open. Photo: TPN/Getty Images

The average price of a Manhattan co-op or condo fell to $1.8 million in the fourth quarter of 2019, according to Douglass Elliman, the largest real estate brokerage in the New York City area, the Financial Times reports.

Why it matters: "The Manhattan property drop is in sharp contrast to the rally on Wall Street, where stock markets have hit new records."

Go deeperArrowJan 4, 2020

Company tax incentives don't spur economic growth

Illustration: Sarah Grillo/Axios

More than two years after Amazon announced its search for a second headquarters and cities around the U.S. bent over backwards to offer the megacompany as much free cash and incentives as they could, new research confirms what economists have been saying for years: Such programs are a waste of money.

Driving the news: A paper from researchers at Princeton and Columbia Business School found "no evidence" that business tax incentives given to individual companies increased broader economic growth at the state and local level.

Go deeperArrowJan 7, 2020