Corbyn has a Washington ally on taxing the rich. But no, it’s not Trump
by Guardian Staff from Economics | The Guardian on (#352V9)
The IMF has finally departed from 40 years of orthodoxy on taxation and economic growth, but it's unlikely to persuade anyone in the US government
The International Monetary Fund has been on quite a journey from the days when it was seen as the provisional wing of the Washington consensus. These days the IMF is less likely to harp on about the joys of liberalised capital flows than it is to warn of the dangers of ever-greater inequality.
The fund's latest foray into the realms of progressive economics came last week when it used its half-yearly fiscal monitor - normally a dry-as-dust publication - to make the case for higher taxes on the super-rich.
Continue reading...