Clark Center Forum

 

 

This week's European Economic Experts Panel statements:

A) A wealth tax would be an effective way to reduce inequality.

B) A wealth tax in a form discussed in the UK (where individuals could be taxed a percentage of their net worth over £750,000, excluding any personal pension savings and their main home) would be an effective way to improve public finances after the Covid-19 crisis.

C) A public policy goal that could be accomplished with a well-enforced wealth tax could be accomplished at lower cost with modifications to existing taxes, such as income tax, capital gains tax, inheritance tax and property tax. 

The total value of outstanding student loans in the United States currently stands at over $1.6 trillion. During the coronavirus crisis, federal student loan payments have been suspended to the end of the calendar year. Following the presidential election, there have been wider discussions of whether the incoming administration may consider some level of forgiveness of the debt.

 

In October, the US Department of Justice launched a federal antitrust lawsuit against Google, accusing the technology giant of abusing its dominance in the market for internet search. We invited both our US and European panels to express their views on some of the issues surrounding this case. We asked the experts whether they agreed or disagreed with the following statements, and, if so, how strongly and with what degree of confidence:

 

In October, the US Department of Justice launched a federal antitrust lawsuit against Google, accusing the technology giant of abusing its dominance in the market for internet search. We invited both our US and European panels to express their views on some of the issues surrounding this case. We asked the experts whether they agreed or disagreed with the following statements, and, if so, how strongly and with what degree of confidence:

 

A team of researchers at the Poverty Lab and the Rustandy Center for Social Sector Innovation at the University of Chicago in partnership with NORC at the University of Chicago, an independent, non-partisan research institution, have been administering a longitudinal survey on a representative sample of the U.S. population since April 2020. Currently in its […] 

This week's US Economic Experts Panel statement:

The practical application of auction theory to the licensing of rights to use public assets like radiospectrum and other natural resources has generated substantially higher government revenues and better allocative efficiency worldwide than would have happened under previous arrangements. 

This week's European Economic Experts Panel statement:

The practical application of auction theory to the licensing of rights to use public assets like radiospectrum and other natural resources has generated substantially higher government revenues and better allocative efficiency worldwide than would have happened under previous arrangements. 

This week's US Economic Experts Panel statements:
A) Restoring the top individual federal income tax rate to 39.6% for incomes over $400,000 (from the current 37%) and taxing the capital gains and dividends of taxpayers with income over $1 million at that top rate (instead of the current preferential rate of 20%), with no other associated changes in taxes or spending, would be unlikely to hurt economic growth noticeably.

B) Restoring the top tax rate, removing the preferential rate on capital gains and dividends, and raising the corporate tax rate from 21% to 28%, with no other associated changes in taxes or spending, would be likely to lead to a meaningful sustained reduction in fiscal deficits.