News
NY Times | Obama to Make Case for ‘Buffett Rule’
Previewing the message that President Obama will take to Florida on Tuesday, his economic team released a brief report making the case for his “Buffett Rule,” a proposal that would ensure the wealthiest Americans pay at least 30 percent of their income in federal taxes.
Politico | David Axelrod: Tax system 'rigged'
The tax system is “rigged” against the average American, David Axelrod said Tuesday as President Barack Obama was set to push for passage of the so-called Buffett rule to raise taxes on the wealthy.
Econ Comments & Analysis
Washington Times | Taming Taxmageddon
Many Americans are breathing a sigh of relief as they finally manage to file their income tax returns. No need to worry about taxes again for another year, right? Not so fast. Higher taxes are coming.
WSJ | Obama's Revenue Soup
Mr. Obama's plan would raise the capital-gains rate on January 1 to 20% on those who earn more than $200,000 ($250,000 for couples), plus a 3.8% investment surtax to finance ObamaCare. That 23.8% rate amounts to a nearly 60% increase from the 15% rate in effect since 2003.
Washington Times | American income tax tyranny
Americans, now 236 years removed from the Decla- ration of Independence, have acquiesced to far more tax tyranny - and I do not use that word lightly - than the British tax tyranny that ignited our revolt.
WSJ | Tax Policy is About Competition, Not Fairness
'The economy is like a regular .300 hitter who only batted .250 and then slumped to .230." So said Walter Heller, chairman of President John F. Kennedy's Council of Economic Advisers, about the U.S. economy in 1961, when growth was anemic and unemployment had hit 7%. He could have said the same after last Friday's disappointing jobs report.
AEI | Why Congress Won't Simplify the Tax Code
Americans deeply disagree about how much revenue the government should raise, how much of the tax burden should fall on the rich, and the size of the tax incentives, if any, that should be provided for saving and education.
Blogs
Tax Foundation | Monday Map: Top State Corporate Income Tax Rates
Today's Monday Map shows top state corporate income tax rates, as of January 1st, 2012.
The American | What would Obama’s Buffett Rule tax really accomplish?
Now I would say that an economy a) capable of growing at least as fast as its historical average and b) not facing a deluge of debt is what’s really “key to ensuring the economic security” – and prosperity! — of the middle class. Not sure that the Buffett Rule really does much in this regard.
