A new report by the Congressional Budgeting Office finds the following: CBO finds that, between 1979 and 2007, income grew by: 275 percent for the top 1 percent of households, 65 percent for the next 19 percent, Just under 40 percent for the next 60 percent, and 18 percent for the bottom 20 percent. Actually […]
Warren Buffett has a great op-ed in today’s Times, in which he says it is time for Washington to extend the “shared sacrifice” we hear so much about to the rich, including himself: OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends […]
This is another sign of the times: Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it’s simply somebody else’s problem. About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions […]
That would be Republican Bruce Bartlett, who worked in both the Reagan and Bush 41 administrations, as well as being a former staffer to Ron Paul: On March 16 the Tea Party crowd showed up for yet another demonstration on Capitol Hill in Washington. Curious about the factual knowledge these people have regarding the issues […]
I want to take a post Marcy Wheeler did yesterday and change it to reflect my revised FPL I did in the previous post. 301% of Poverty Level: $66,370 Federal Taxes (estimate from this page, includes FICA): $8,628 (13% of income) State Taxes (using MI rates on $30,000 of income): $1,305 (2% of income) Food […]
Really. Just look at the news yesterday. First off the dollar hit a record low. That occurred on the same day that oil hit a record high of $98.00 a barrel (and expected to go past the $100 mark today). This sounds bad, but if you ask anyone in the administration they will tell you […]