Perfectly Sensible Ideas From The ‘Radicals’ Sanders & Corbyn: Part 2 – Progressive Tax Reform

This is the second post in my series on the policies of the allegedly “radical” candidates for leadership of their respective countries, Bernie Sanders of the United States and Jeremy Corbyn of the United Kingdom. In this post, we discuss progressive tax reform. Progressive tax reform – a term I’m using to refer to the reform of taxes which tend to target the wealthy – has been targeted by both Sanders and Corbyn. Corbyn, being quite some time out from an election, has been thus far somewhat vague on the issue of taxes as such, but has indicated that a more progressive tax system is needed in the UK, and has targeted corporate taxes and tax avoidance as being of particular importance.[i] Sanders, being in the midst of a campaign for the Democratic presidential nomination, has given a more detailed view of his tax reform.[ii] This includes, among other measures, raising the top income tax rate, raising the corporate tax rate, reforms to capital gains tax, and the imposition of a tax on financial transactions. These kinds of measures have the potential benefit not only of reducing the exorbitant inequality which has emerged over the past four decades in particular, but of making the government more able to do its work in a sustainable manner without crimping anyone’s lifestyle too much.

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