It seems paradoxical: The wealthy pay higher income taxes than low- and middle-income Americans. But they also often pay lower effective tax rates than their much poorer counterparts. The archetypal case is Warren Buffett’s: The billionaire investor has complained that he pays proportionately less tax than his secretary, who More…
Michael Linden and Heather Boushey from the Center for American Progress take a close look at the recently released census data, and find income inequality increasing through the recession:
Recently released Census data confirm that the wealthy are back on track after suffering only minor setbacks. Incomes
By a surprisingly clear 53-47 and 54-46 margins, voters in Oregon have approved ballot measures raising taxes on wealthier residents. It’s the sort of story you’d hear more about if it went the other way. As Fox News reported yesterday:
The No campaign is also getting a boost
Bloomberg’s Ryan Donmoyer digs deeper into the question of whether the administration’s plan to scale back deductability of charity donations by wealthy Americans will hurt the non-profit sector. His report today generally confirms the analysis of the Center for Budget and Policy Priorities reported here yesterday.
“Given the size
One advantage President Obama’s foes have in mounting their domestic agenda of obstruct and obscure is the luxury of the content-free talking points. For example, ever since President Obama proposed limiting the tax deductions of the most affluent Americans as a means of paying for health care reform last, a More…
Daniel Gross at Slate checks in with a timely piece reminding us that people earn $250,000 or so a year are, in fact, rich. Gross feels the need to explain this because of the backlash over Democratic presidential nominee Barack Obama’s tax plan, which calls for scaling back tax More…
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