Happy Tax Day! Taxes are one of the most politicized and misunderstood parts of our country. Both parties and the media are awash in tall tales and myths about taxes, so here are some little known but absolutely true facts to help clear things up: Fox News says “47 percent of Americans don’t pay any […]
To anyone who still believes the nonsense that cutting taxes for the rich will stimulate job creation or the economy, Politico points out that between the year 2000 and 2009, the real amount that people pay in taxes went down by 20%. That’s right, we cut taxes significantly, and what happened? Are we now awash […]
Joseph Stiglitz has a must-read article in Vanity Fair “Of the 1%, by the 1%, for the 1%“. The article systematically deconstructs and debunks the many myths of inequality. For example, you probably won’t find any politicians promoting the theory of “trickle-down economics” any more, and yet we are still furiously cutting taxes for the […]
© Jeff Danziger General Electric had profits of over $14 billion in 2010 and yet paid no taxes. In fact, they received a tax benefit of $3.2 billion. Now that’s corporate welfare! How does GE do it? By hiring former treasury officials to work in their tax department, and by aggressive lobbying to get tax […]
It has been over three years since Warren Buffett pointed out that he pays a smaller percentage of his income in taxes than his employees. In fact, his receptionist payed almost twice the percentage he pays, even though he doesn’t even take advantage of tax shelters that are available to the rich. It isn’t like […]
© Ed Stein We seem intent on turning ourselves into a third world country. UPDATE: I don’t want to be a teacher any more.
According to a new poll, 61% of Americans say that the first step toward balancing the budget should be raising taxes on the richest Americans. Only 20% thought that the first step should be to cut defense spending, while 4% wanted to start by cutting Medicare, and 3% wanted to cut Social Security (the third […]
Not in my mail box: © Jack Ohman Everyone wants the government to reduce spending, as long as they still get their checks in the mail.
華人民共和國國 務院總理 中央人民政 府政务院总理 华中公务员人民 共和国 [reprinted from Bullseye Rooster. Does anyone know what this means in English?]
© Rob Rogers The rich are getting richer, and giving them tax cuts didn’t help the economy, but it is the only thing the Republicans insist on — more tax cuts for the rich. And investors already pay less in taxes on their earnings that people who work do. Not to mention that payroll taxes […]
© Dan Wasserman It’s not bribery, it’s a public-private partnership!
Today, the Senate took two votes. The first was to extend the Bush tax cuts on income of less than $250,000 a year. The second vote was similar, but raised the income threshold to $1 million. Since the Republicans say they will filibuster both bills, the votes were technically to limit debate and so under […]
© John Sherffius So, when do we start calling the Republican party terrorists?
Today, all 42 Republican Senators signed a letter declaring emphatically that they will not let the Senate consider any legislation or take any action at all, until the tax cuts for the wealthy have been extended. The Democrats want to extend the tax cuts for people earning less than $250,000 a year, but that isn’t […]
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