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Thursday, August 25, 2011

Taxes

Econ Comments                                                                                                             
CNN Money | The critical facts that no one mentioned in the debt debate
Hiking taxes on the rich has a long history of backfiring. Let's learn from history.
RCM | The Payroll Tax Cut Is Class Warfare
To be sure, we are in favor of any tax cut we can get, and there's certainly no harm in letting workers keep a little more of their hard-earned money. But no one should have any illusions that this debate is about anything other than winning votes next November.
Forbes | Buffett And Obama Use The Tax Code For Free Guilt Therapy
That neither of them is handing over his wealth to Treasury indicates that neither is interested in paying more to the government per se; each is enthralled by the idea of doing so if they can be comforted by the knowledge that there are crowds lined up behind them (forced) to do the same.

Blogs                                                                                                                             
Kids Prefer Cheese | Corporate [ TAXES ] are [ PAID BY ] People
Corporations can move around; stockholders won't move around, at least not as much.
Heritage Foundation | Illinois Loses Most Jobs in Nation Following Massive Tax Increase
In Illinois, employment numbers increased steadily until January 2011, at which point they took a sharp dip downward—the same time that state’s governor announced plans to increase the personal income tax rate by 67 percent and the corporate rates by 46 percent. And things keep getting worse.