Econ Comments & Analysis
Washington Post | ‘Buffett Tax’ and truth in numbers
Obama thinks he can ride resentment against the rich into the White House for a second term; and Republican Romney’s fortune, estimated at $190 million or more, qualifies him as super-rich.
Daily Caller | Obama’s recovery plan: tax investment
You would think that with one of the weakest economic recoveries on record, President Obama would be desperately searching for ways to promote economic growth. But instead, Obama used his State of the Union speech to rail on about fairness, inequality and redistribution.
Politico | McConnell declines to write off tax increase
As he vowed to extend the payroll tax holiday through the end of the year, Senate Minority Leader Mitch McConnell (R-Ky.) on Sunday declined to definitively write off the possibility of paying for it at least partially with a tax increase.
Washington Times | Tax the ‘rich’
Each presidential candidate’s position on investment tax rates is a critical issue. The current rates, set by President George W. Bush, will expire at the end of this year, so whoever sits behind the desk in the Oval Office next January will have the power to stop the capital-gains tax rate from jumping to 20 percent and qualified dividends rising to 39.6 percent.
WSJ | Will Buffett Avoid the Buffett Rule?
In the current debate, President Obama is pushing the "Buffett Rule" to ensure that high-income earners pay higher tax rates. But even if it's enacted, don't expect the Buffett Rule to have much impact on Mr. Buffett.
Blogs
AEI | Tax Analysts exclusive: a conversation with Alex Brill
Tax reform is a two-front war. On one side there is the battle of dollars and cents: special interests using every trick in the book to preserve their tax breaks. On the other side there is the ideological battle: liberals versus conservatives
Heritage Foundation | Chart of the Week: Top 1 Percent Paid 38 Percent of Taxes
This week’s chart reveals the top 10 percent of income earners paid 70 percent of all federal income taxes in 2008, while the bottom 50 percent paid only 3 percent. Remarkably, 49 percent of U.S. households paid no federal income tax at all.
Tax Foundation | “Buffett Rule” Will Boost Top Dividend Rate to Over 62%, Highest in OECD
Lost in the intense scrutiny of the 15 percent tax rate that Mitt Romney paid on his capital gains and dividend income is the fact that capital gains and dividend taxes are a second layer of tax on corporate profits.
Minyanville | Will Tax Breaks Bring Manufacturing Jobs Back to the US?
In his State of the Union address on January 24, President Obama spoke of a possible manufacturing renaissance popping up right here in the United States. With the right tax policies in place, over time, Mr. Obama believes that this potential renaissance could be a reality.
