On the NBC network news tonight, discussing Romney’s 1040, the talking head made a matter-of-fact reference to “a tax code that favors the rich.” Sure. Taxpayer “A” pays $2,000 in income tax. Taxpayer “B” pays $20,000,000 in income tax. And the conclusion is that the tax code favors taxpayer “B”. Uh-huh. And if inmate “A” […]
Posts under ‘Tax Policy’
A Mere Trifle
It’s astonishing how very little the Congress have and are addressing the actual budget problem. The latest proposal would cut just shy of a trillion dollars. Ooooh, saving almost a *trillion* dollars (over ten years). It’s a trifling amount in the overall FedGov budget (estimated at 3.82 trillion in 2011). A savings of 100 billion […]
Debt Talks
Lots of talking heads weighing in on the debt talks. I saw a John Stossel show a while back in which 6 different think tanks weighed in with proposed U.S. federal budgets. Only one (1) of them had as its objective to actually balance the budget! Some Big Wig Democrat, I didn’t catch his name, […]
Balancing The U.S. Federal Budget II
I’ve been reading a lot about bringing the spendthrift FedGov under control. In some circles it is fashionable to say that we have deficits because the “rich” don’t pay their “fair share.” Somewhere in my reading it was stated that if we increased the income tax rate for ALL taxpayers to 100% we would still […]
Taxing The Rich
Someone sent me a link noting: “Why Taxing The Rich Doesn’t Work:> <http://www.glennbeck.com/2011/04/14/tax-cuts-vs-tax-hikes/> Now, of course, he meant that taxing the rich doesn’t work to balance the federal budget. Clearly though, Taxing The Rich Does Work when you have other goals. Will taxing the rich get some politicians re-elected? Yes. Will taxing the rich further shift the […]