Tax Lawyer's Blog

Howard Gleckman over at Tax Vox Blog wrote a provocative post yesterday titled Who Pays Taxes? Who Should?.

The post is weighty, but well worth the read.

Here’s Gleckman:

So do the rich pay their fair share or not? [Former top Ronald Reagan tax adviser] Buck Chapoton may have it about right. His conclusions:  

“Given both massive deficits and the huge increase in incomes for the very rich, there is a strong equity argument for raising taxes at the top. There is little credibility to the claim that boosting their tax liability will further damage an already-weak economy. However, by proposing to raise rates rather than broadening the tax base, Obama is practically begging the wealthy to seek out new sheltering opportunities.”

But there are non-economic considerations, too:  

Finally, [Chapoton] raises another important issue that has little to do with economics (at least directly) and a lot to do with the nature of our democracy.  

Is it healthy to have a nation where a few pay most of the costs while millions pay no taxes at all, even as they enjoy the benefits of those programs largely financed by the wealthy. It brings to mind Obama’s plan to cover the uninsured by raising taxes only on those making more than $250,000. That’s a kind of class warfare that really does trouble me.

Related Posts:

Author Carl Hiaason is a Rich Guy Who Wants to Pay More Taxes 

Wealth Spreading and the Tax Code

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