Newt Gingrich’s tax plan does give almost everyone a tax break, but some more than others. Can you guess which ones? People earning more than $1 million a year would receive an average tax cut of $613,689 in 2015, compared with what they pay now. That change would boost their after-tax income by 28.7 percent […]
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 […]
As Americans scramble today to file their taxes, the GOP is looking for more ways to make that burden even higher on average Americans. Take Tea Party darling and habitual liar Scott Walker, Governor of Wisconsin. Taking a page from the elder Bush’s campaign, he vowed to never increase taxes. Of course that pledge only […]
The Economic Policy Institute has released a chart showing the average overall tax rates in 1979, 1992 and 2007. The picture isn’t pretty. While the tax rate for you, me and the other 99% of this country has remained pretty much the same over the years, the tax rate for the top 1% has seen […]
There has been a lot of talk lately about the constitutionality of the health insurance mandate. The right seems to want to point to the tenth amendment: The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people. […]
Think about a government run healthcare program for a moment. What if the country said sayonara to the current insurance providers as they are and went with a totally universal program. The savings to taxpayers and businesses would be huge. Talking about such a massive sized program saving us doesn’t seem very logical, but think […]
The Republicans have once again said “fuck middle America” and spent their time giving tax breaks to the rich: The Senate gave final approval Thursday to a $70 billion election-year package of tax cuts that will extend lower rates for investors and also save billions for families with above-average incomes. The Senate passed the measure […]