News
WSJ | Obama Is Flexible on Highest Tax Rates
President Barack Obama signaled he wouldn't insist tax rates on upper-income Americans rise to Clinton-era peaks as part of a deficit-reduction deal, showing new flexibility as he tries to accelerate talks with congressional Republicans.
Econ Comments & Analysis
Politico | A quick primer on soaking the rich
The Oracle of Omaha came on the show yesterday and promoted his plan to impose a minimum 30 percent tax on millionaires and billionaires. Warren Buffett said such a tax was necessary because fully a quarter of the 400 richest Americans (who averaged $200 million in income) paid a tax rate of less than 15 percent - and six of those super-rich individuals paid nothing at all.
Washington Times | Feel-good tax hikes are bad economic policy
“What I’m not going to do is extend the Bush tax cuts for the wealthiest 2 percent that we cannot afford and according to economists will have the least positive impact on the economy.” So proclaimed President Obama in his first post-election news conference.
Investors | Fiscal Cliff Endgame Will Include Tax Hikes On The Rich
As a practical matter, the debate over higher taxes is finished. If there's an agreement to avoid the "fiscal cliff," it will almost certainly contain large tax increases mostly or entirely on the wealthy.
WSJ | The Great 2012 Cashout
Perhaps you've heard from various economic sages that tax rates don't matter either to economic growth or taxpayer behavior. Don't tell that to the companies and individuals who are busy cashing out their investments or paying dividends to get ahead of the Obama tax scythe in January.
CATO | All about Taxes
If Republicans would only agree to dump Grover Norquist, Democrats will agree to cut spending and reform entitlements. Then, we can all join hands and sing Kumbaya as we usher in a new era of compromise and fiscal responsibility. Except that now that Republicans have agreed to raise taxes, er, revenue, as part of an agreement to avoid the looming fiscal cliff, liberals appear to have decided that there really isn't a need to cut spending after all.
Blogs
Tax Foundation | Buffett's Case for Minimum Tax on the Rich Fails on All Accounts
In a recent op-ed in the New York Times [found here], Warren Buffett is once again insisting on a new super-minimum tax on the super-wealthy. He suggests that the rich pay an effective tax rate of 30 percent on incomes between $1 million and $10 million and a 35 percent effective tax rate on incomes above that.
Heritage Foundation | Bipartisan Tax Reform? It Happened in 1986
Whenever Washington leaders start talking about the economy, they like to refer to deals and legislation from years past. In the latest fiscal cliff talks, the Tax Reform Act of 1986 has come up. Why?
AEI | Top 10 things Obama’s $82 billion tax hike on the rich would buy
President Obama’s plan to raise taxes on the wealthy will bring in roughly $82 billion a year. Since the federal government is spending well over a trillion dollars more than it takes in each year, that won’t put much of a dent in our fiscal problems.
