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Tuesday, September 25, 2012

Taxes

News                                                                                                                             
CNN Money | Obama's 18 small business tax cuts - explained
President Obama often touts his 18 small business tax cuts, but there's some confusion as to what they really are.

Econ Comments & Analysis                                                                                            
WSJ | Tax Reform in 2013?
It was overshadowed by the presidential race tug-of-war, but on Thursday the House and Senate held a rare joint hearing on tax reform. There was the usual partisan wrangling over who should pay how much, but there was some bipartisan agreement as well.
Washington Times | U.S. should ax destructive tax
It’s difficult to say definitively which tax is the most destructive. The corporate income tax is a leading candidate for causing higher prices to consumers, lower wages to workers and lower returns to investors.

Blogs                                                                                                                             
Tax Foundation | Monday Map: Nonpayers By State
Today's Monday Map updates a map we did a couple of years ago looking at the geographical distribution of households that pay no income tax (using 2008 data).
CATO | ‘I Haven’t Raised Taxes’
On CBS News’s “60 Minutes” Sunday night, President Obama said, “Taxes are lower on families than they’ve been probably in the last 50 years. So I haven’t raised taxes.”
AEI | 10 stunning and myth-busting charts on the U.S. tax system
The Tax Foundation just posted a ton of super-informative, myth-dispelling charts on the U.S. tax system.
Tax Foundation | Is it True that "Just About Everyone" Eventually Pays Income Tax?
Acknowledging the fact that in any one year about half the population does not pay federal income tax, Paul Krugman and the authors of a report by the Hamilton Project argue that what matters is the life cycle, i.e. how much someone pays in tax over his or her life.  True, in many ways this matters, just as income over the life cycle matters.