By Rachel Goldfarb, originally published on Next New Deal
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Obama’s Proposal On Inequality: Is It Enough? (Here & Now)
Roosevelt Institute Chief Economist Joseph Stiglitz speaks to Jeremy Hobson about the State of the Union, emphasizing that the president's proposals don't go far enough.
I think they’re all moves in the right direction — except for one — but they’re not going far enough. So for instance, he talked about the importance of education: absolutely right. He talked about the importance of getting more women into the labor force, providing child care, maternity leave: again, absolutely right. He talked about a more progressive tax system: again, something absolutely right. But consider the tax reforms that they are talking about. They’re proposing increasing the capital gains tax and eliminating a technical provision that allows the very rich to essentially totally escape taxes on capital gains. He’s only raising the capital gains tax rate to 28 percent. He hasn’t explained to the American people why those who speculate on land and make profits on that speculation should be taxed at a lower rate than those who work for a living. … I think the capital gains should be taxed at exactly the same rate as somebody who works for a living.
Follow below the fold for more.
Is Net Neutrality the Real Issue? (Marketplace)
Roosevelt Institute Fellow Susan Crawford believes that monopoly control of Internet service providers, and the payments they extract from content providers, could be a larger concern.
Obama Says Family Leave Is an Economic Necessity, Not Just a Women’s Issue (NYT)
Claire Cain Miller praises the president for recognizing that child care and paid family leave should be treated as national economic priorities.
The Grand Old Party … for the Poor? (MSNBC)
Suzy Khimm points out how Republican responses to the State of the Union tried to tie the party to anti-poverty efforts, despite continued support for policies that cut the safety net.
First Thing We Do, Tax All the Banks: Why Obama's Middle-Class Economics Plan Makes Good Sense (The Guardian)
David Dayen says that the president's proposal to tax banks on their liabilities, or what they owe, is a potential first step toward additional financial reform needed post-Dodd-Frank.
New on Next New Deal
Obama’s Middle Class Economics Has to be About Fairness and Prosperity
Roosevelt Institute Senior Fellow Richard Kirsch says the president's speech left out an important story about middle-class economics: these policies are better for the economy than Republican austerity.