Last week, Gov. Scott Walker said he is interested in the possibility of eliminating Wisconsin’s state income tax and raising the sales tax to make up for the lost revenue. As noted by the Wisconsin Budget Project, eliminating the state income tax and raising the sales tax would result in a tax increase for all [...]
First of all the Democrats once again experienced a massive fail in branding the tax reductions implemented during President George W Bush’s administration. Since they were enacted with a hard sunset date, the Democrats should have loudly and consistently referred to them as the Bush Tax Holiday. Which is exactly what they were!
So now, [...]
Death and taxes are the two main constants in life. While most of us worry when April 15th comes a knockin’, the corporate CEOs take the Bobby McFarrin approach – Don’t Worry, Be Happy. The reason for this laid back attitude when it comes to paying the tax man is that they’ve got their [...]
Any number of times over the three Presidential debates, President Obama and Mr. Romney faced off over the potential effects of the Romney tax plan on the American economy and the Federal Deficit. The President has been quoting data saying that the Romney tax plan would increase the federal deficit by $5 trillion. Of course [...]
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Barnabas Collins Is Displeased With The Optimal Tax Rates!
When you hear conservatives talk about inheritance taxes, they invariably refer to them as “death” taxes. And like any tax, they want to eliminate this one too. Never mind that labeling it a “death” tax is, of course, absurd on its face. It’s not a [...]
"Oh my! Whatever will the job creators do? More taxes? How will they survive???"
Those poor job creators! They’re so put upon… So many regulations… So much to worry about… Oh dear. How will they survive? We must enable them to create jobs by cutting their taxes and eliminating public spending to clear the [...]
One of the popular myths that conservatives like to repeat is that the reason states lose jobs or have other economic turbulence is because business and “job creators” pick up and move to lower tax states. You can’t raise taxes, they say, everyone will leave!
Yeah… Not so much.
Recent research shows income tax increases [...]
Fair is not always simple, but we can go a long way to improving the tax code. Economist Jaren Bernstein has five strategies to improve fairness in the current system.
1) Progressive: those with more income pay a larger share of it in taxes;
2) One that doesn’t exacerbate inequality by giving preferential treatment to [...]