In their latest edition of Tax Justice Digest, Citizens for Tax Justice rundown the various tax propositions which appeared around the country on state ballots. CTJ applauds the defeat of a host of dreadful TABOR proposals, estate tax repeals, and a smattering of other awful tax measures, but they also applaud the defeat of cigarette tax increases. But, wait - don’t we want to discourage people from smoking? Now seems like a good time to discuss balancing competing objectives of a just tax code. In this case, the conflict is between degrading tax code progressivity and using the tax code to discourage harmful behavior (harmful not only to the individual who engages in the behavior, but also to those near him or her, and harmful to the economic prosperity of the jurisdiction).

BNA ($): San Francisco Federal Reserve Bank President Janet Yellen urged lawmakers in a Nov. 6 speech to address the causes of income inequality and strengthen the social safety net as part of a long-term effort to protect the economy and U.S. democracy. [...]

Yesterday, Adam posted about several state ballot initiatives that would raise the minimum wage at the state level. As it happens, these are very popular initiatives. BNA ($$): Six states appear virtually certain to increase their state minimum wage, with support for the ballot initiatives ranging from 68 to 81 percent, according to the latest polls. If they are approved, nearly 70 percent of American workers would be employed in states with a minimum wage higher than the federal rate of $5.15 an hour.

A few days ago, CNN released a fascinating poll on how many Americans feel that the American dream is beyond their reach. According to the poll, it's a majority now, 54 percent. The poll also reveals that 74 percent of Americans regard Congress as "out of touch" and 79 percent feel that big business has too much influence over Bush administrattion policies.