EP 465 Has the Time Come for the Rich to Pay Their Fair Share in Taxes?

It’s hard to look at America and not recognize that money will have to be spent in the period ahead on a range of emerging priorities, including addressing income inequality, infrastructure, day care, health coverage and the long tail of the pandemic.  The question is where do you get the money to address these issues?  If past is a prologue to the future, much of it will be printed, borrowed and, reluctantly, taxed into existence.  Which taxes and on whom?  President Biden has said that no one making under $400,000 a year will see their federal taxes go up.  Under consideration are a host of ideas to squeeze more revenue out of sources, like large corporations, who have helped write the current tax code which favors them.  Giving back will involve a complicated political dance.  Fred McKinney, the Carlton Highsmith Chair for Innovation and Entrepreneurship and director of the People’s United Center for Innovation and Entrepreneurship at Quinnipiac University, join me to introduce you to new ideas like a ‘1009 New’ to capture more business revenue, a proposal to raise capital gains taxes to a level comparable to wages and a global corporate tax, among others.