I've always found putting things in historical perspective and looking at the long-term trend of things usually illuminates a lot of policy discussions. It's easier to see "what's really happening" if you look at the long-term trend. Taxes, tax rates, and the government budget are often hot topics of policy debate. So is the future … Continue reading So Who Pays For the Government and How?
Herman Cain’s 9-9-9 Plan and the 99%
In the constantly churning pool of Republican Presidential candidates, a seemingly political newcomer has risen to the top (for now): Herman Cain. Mr. Cain, the former CEO of Godfather's Pizza where he engineered a leveraged buy-out from Pillsbury, isn't really a political newcomer or outsider, though. He only appears to be because he personally has … Continue reading Herman Cain’s 9-9-9 Plan and the 99%
Can We Afford to Raise Taxes On High Incomes? Can We Afford Not To?
Another tax related post. It appears that taxes, in particular, taxes on the top income bracket will be a major topic of debate propaganda for the next year and a half until the next presidential election. Part of the reason is because the tax deal done last December (2010) between Republicans and Obama last December (2010) perpetuated the Bush-era … Continue reading Can We Afford to Raise Taxes On High Incomes? Can We Afford Not To?
More on Tax Fairness – We Pretty Much Have Flat Taxes Now
In the last couple of days I've posted a couple times on taxes. In one post, I observed how hedge fund managers have radically lower tax rates than the most of us because of a loophole introduced in the Bush-era tax cuts. Yesterday, I showed graphically how average income tax rates are actually lower than … Continue reading More on Tax Fairness – We Pretty Much Have Flat Taxes Now
CEO’s Pay Grows, Average Worker Pay Stagnates
The top end of the income distribution has recovered from any ill effects of the Great Recession, but the average worker has not. CEO's in particular saw their compensation increase 27% in 2010, while the workers at the corporations these CEO's "lead" has barely moved. Wonkroom notes: Households across the country are still feeling the … Continue reading CEO’s Pay Grows, Average Worker Pay Stagnates
News Flash: Federal Taxes Have Plummeted
David Cay Johnston reported this a few weeks ago and I almost missed it. It's particularly relevant, though, what with official Washington talking about how to cut spending, restrain the deficit, etc. (at least attacking the English language with euphemisms about war in Libya). Let's recap what Washington, especially Republicans, have been saying (from Johnston's … Continue reading News Flash: Federal Taxes Have Plummeted
5 Myths about Taxes
Bob Stoker (via TheMonkeyCage ) tries to shed light on the darkness by dispelling 5 myths about taxes. Myth #1: Federal taxes are higher than they have ever been. According to the Congressional Budget Office (CBO), the opposite is true. Budget analysts typically measure the federal tax burden as a proportion of GDP because this accounts for … Continue reading 5 Myths about Taxes