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Monday, April 25, 2011

Taxes

News                                                                                                                             
CNN Money | Americans agree: The rich should pay higher taxes
Two new polls suggest there is broad support for raising taxes on households making more than $250,000 a year, and all in the name of deficit reduction.
Fox News | Tax Hikes on Top Earners? Bloomberg Says Now Is Not the Time
….asked about President Obama's pledge to let the Bush tax cuts for households earning more than $250,000 expire, Bloomberg said now is not the time for that kind of tax increase.
National Journal | Conservatives Remain at Odds over How to Define a Tax Increase
Tom Coburn-Grover Norquist battle could provoke an even bigger confrontation within the Republican Party.

Econ Comments                                                                                                             
AEI | Obama Says It's Only "Fair" to Raise Taxes on the Rich. He's Wrong.
...when a government that has overspent for years turns to tax increases instead of spending cuts simply for the sake of "fairness,"it weakens free enterprise, lowers opportunity and impoverishes us in many ways.

Blogs                                                                                                                             
NY Times: The Caucus | Corporate Taxes Enter Debt Debate
Multinational corporations want America to follow other major economies in adopting a “territorial” tax system that excuses profits earned overseas from United States taxation.
Café Hayek | Taxing Facts
...over the course of these 29 years, the share of Uncle Sam’s income-tax receipts paid by the top one-percent of income earners rose significantly, from 18 percent to 40 percent.