News
MarketWatch | Taxpayers still on hook for $130 bln in TARP funds
Treasury has 77% stake in AIG, 32% stake in GM, 74% stake in Ally Financial.
Econ Comments
RCM | How to Cut Taxes, Boost Revenue
At the heart of the painful negotiations over deficit reduction has been the tension between eliminating tax expenditures, namely tax breaks for individuals and businesses, and cutting tax rates.
WSJ | Warren Buffett Is Wrong On Taxes
Millionaires and billionaires pay a higher share of their income in taxes than the middle class.
Daily Caller | Don’t allow another payroll tax accounting gimmick
Last December, Congress temporarily cut the employee share of the Social Security payroll tax rate from 6.2 percent to 4.2 percent. Tucked away in the legislation, however, was text mandating that the government continue to credit the trust funds as though that payroll tax rate were still 6.2 percent.
Blogs
Cato@Liberty | Debunking the Left’s Tax Burden Deception
Keep in mind, though, that government forecasters assume that higher tax rates have no adverse impact on economic performance, so it’s quite likely that neither tax revenues nor GDP would match the forecast.
