Kevin Duncan of The Tax Foundation writes in Americans Paying More in Taxes than for Food, Clothing, and Shelter: In 2012, Americans will pay approximately $4.041 trillion in taxes, which is $152 billion, or 3.9%, more than they will spend on housing, food, and clothing. … Between 1929 and the early 1980s, aggregate tax collections [...]
Tags: News · Tax Policy
Heritage: Nearly Half of All Americans Don’t Pay Income Taxes Heritage Foundation: Chart of the Week — Nearly Half of All Americans Don’t Pay Income Taxes: (Hat Tip: Paul Caron) Bookmark & Share:
Tags: News · Politics of Taxes
How do you deal with someone as serially loathsome as Jonathan Chait, a man who has bragged that he hates a sitting President because he walks funny and then has the balls to accuse others of being the “lesser lights of the intellectual world?” Well, a fellow named Clive Crook knows how. Crook writing for the Atlantic exposes Jonathan Chait as a [...]
Tags: Politics of Taxes
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
Scott Hodge of the Tax Foundation has, in rebuttal to President Obama’s State of the Union speech, published two charts that show how radically progressive our current tax system is: We found that federal tax and spending policies are already very progressive and redistributive. As the charts below indicate, the bottom 60 percent of families [...]
Tags: Politics of Taxes
In a 2007 blog post appearing in The American Stephen Moore reported that the top one percent of American income earners pay 37% of the federal income tax: The latest data show that a big portion of the federal income tax burden is shouldered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 [...]
Tags: News · Politics of Taxes · Tax Policy
Once again the left gets hoisted with its own petard in the tax debate. Alan Reynolds of the Cato Institute wrote an op-ed for the Wall Street Journal today in which he noted: A recent report from the Congressional Budget Office says, “The share of income received by the top 1% grew from about 8% [...]
Tags: Politics of Taxes · Tax Policy · The Economy
