Stiglitz on Taxes

Joe Stiglitz has published another paper on "Reforming Taxation to Promote Growth and Equity". Note that he is not focused on budget reduction and deficits. This country has to get back on the growth track; we have to bring back the days when the middle class actually benefits from economic growth. There are many ways to promote growth. Modifying our tax system is one way, and an important way.

He has seven suggestions:

• Adjust corporate income tax rates so that companies are incentivized to invest in innovative and job creating activities in the U.S.
• Reduce corporate welfare, such as bailouts and subsidies.
• Devise special taxes for the financial world.
• Higher tax rates for monopolies such as the cable companies.
• Do a better job on taxing multi-nationals.
• Tax those firms negatively impacting the environment.
• Make dividends tax-deductible.