Doug Powers of Michelle Malkin’s blog writes that actor Will Smith supports President Obama’s call for America’s top earners to pay more taxes but thinks France’s 75% top tax rate is too high: Here’s a brief transcript from an interview with Smith that ran on French television. Video via Real Clear Politics: Will Smith: I [...]
Tags: Politics of Taxes · Tax Policy
Bruce Bartlett writing for the New York Times in Will Rich People Desert the U.S. if Their Taxes Are Raised? says: In recent years, the number of Americans renouncing their citizenship has increased. According to the international tax lawyer, Andrew Mitchel, the number of Americans renouncing their citizenship rose to 1,781 in 2011 from 231 [...]
Tags: News · Politics of Taxes · State Taxes · The Economy
The tax-the-rich left finally has the conclusive proof it has been seeking that it is absolutely, unequivocally the right thing to do for the United States to increase taxes on the rich: France is doing it. Charles Riley of CNNMoney says that “raising taxes on the rich isn’t just an election year issue in the United States — it’s [...]
Tags: Politics of Taxes · Tax Policy
From Paul Caron: The Hill, Hill Poll: Likely Voters Prefer Lower Individual, Business Tax Rates: Three-quarters of likely voters believe the nation’s top earners should pay lower, not higher, tax rates, according to a new poll for The Hill. The big majority opted for a lower tax bill when asked to choose specific rates; precisely 75% said the [...]
Tags: Campaign 2012 · News · Politics of Taxes
By way of Paul Caron, Liz Peek of Fiscal Times explains why the Buffett Rule is pile of propagandistic nonsense (emphasis added): Fiscal Times, Obama’s ‘Buffett Rule’ Fails the Tax Reform Test, by Liz Peek: President Obama has a new favorite possession – the “Buffett Rule.” Like a poodle with a new chew-toy, Mr. Obama can’t [...]
Tags: Tax Policy
The left would have you believe that 1 percenters like Warren Buffett and Mitt Romney are the poster boys for a tax system that favors the rich. Enter James Ross, a 1 percenter who paid 102% of his 201o taxable income in federal income, state income local taxes. James Stewart of the Associated Press has the story: [...]
Tags: Politics of Taxes
Please bear with me on this one. If Warren Buffett really does pay taxes at a lower rate than his secretary does, it is a fairer result than if he paid taxes at a higher rate.¹ Here’s why: Warren Buffett employs his secretary. Debbie Bosanek employs no one Warren Buffett, directly and indirectly, employs hundreds of thousands of workers. Debbie [...]
Tags: Politics of Taxes · Tax Policy
