Should we tax Americans an extra half a trillion dollars? More…
Category Archives: taxes
Don’t let the president sucker you 1
The president and his party insist that tax increases on America’s most productive workers (aka “the rich”) are the only way to right our self-inflicted debt mess. Evidence suggests that is the worst thing we could do … More…
The challenge of tax simplification Reply
I would love to see tax simplification. I am a C.P.A. and have difficulty preparing my own return using a computer program! Real income tax simplification means moving to either a low flat tax rate or to significantly lower progressive tax rates with very few, if any, exemptions and deductions. Income from all sources would be taxed under the same rate structure. It we did that, there would need to be thousands of pages of transition rules … More…
Paul Ryan’s responsible budget for working class America 3
Why were Republicans thrown out of office in 2006? Because they spent too much of taxpayer’s money. Why were Democrats thrown out of office in 2010? Because they spent too much of taxpayer’s money. Is there a lesson to be learned here?
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Federal taxation for dummies Reply
“Federal deficits were caused by Bush’s tax cuts for the rich.” That was a typical response I got from a previous post, “Federal Spending for Dummies.” It struck me as a legitimate reaction. After all, President Bush and a Republican-controlled Congress cut income tax rates for all workers in 2001. Specifically, they reduced the top marginal income tax rate from 39.6 percent to 35 percent. Additional tax-reduction legislation was passed in the ensuing years which lowered various tax rates for America’s most productive workers. The suggestion was that government revenues shrunk because of these tax cuts, depriving the treasury of funds and driving up the deficit to unprecedented levels. And yet an analysis of the data reveals liberal critics have it wrong … More…
