Jared Bernstein tells us yet again what the data has been telling us forever (my bold): I agree with Chye-Ching Huang, who agrees with the Congressional Research Service, Len Burman, and me: over the long, historical record of special tax treatment for investment incomes and tax cuts to the top marginal tax rates, one simply […]

by Kenneth Thomas Every State’s State/Local Tax System Taxes the Poor More than the Wealthy–And All Exceed Federal Taxes A new report from the Institute on Taxation and Economic Policy (ITEP) shows that in every state in the country, the bottom 20% of households pay more of their income in state and local taxes than […]

Bill McBride at Calculated Risk does his usual excellent job of reporting economic data; He just reported the state unemployment rates and published a chart comparing the current rate with each state’s peak rate. One very significant point that popps up in this chart is that Michigan and Ohio appear to have had the greatest […]

Rachel Zubay, 32, works as a waitress at Abdalla’s Steak House, in the shadow of a recently idled coal-fired power plant. She’s got two kids, is in the middle of a divorce, has no medical insurance and is paying $50 a month on a $15,000 surgical bill after she injured her ankle and foot in […]

Trade and Development Run 75411 picked up this recent report over at Economists View where someone (Goldilocksisableachblond?) pointed to a recent UN report TRADE AND DEVELOPMENT REPORT, 2012 Run says: There are some interesting comments within the Overview to the much longer report, which I found germaine to what is happening in the US and […]

I don’t pay more than are legally due and frankly if I had paid more than are legally due I don’t think I’d be qualified to become president. I’d think people would want me to follow the law and pay only what the tax code requires. — Mitt Romney, speaking to ABC’s David Muir, July […]

Between 1990 and 2009, the Romneys’ average annual effective federal tax rate was 20.2 percent, according to [notarized tax return summaries by Romney trustee Brad] Malt. The lowest effective federal personal tax rate they paid in that period was 13.66 percent, he said. Over the same 20-year period, the couple gave an average of 13.45 […]

Romney paid 14.1% of his income and capital gains as tax in 2011.  But I wonder I hope I wish that all of that was capital gains tax and none of it was income tax.  What goes around comes around and he who equates paying zero federal income tax with paying no taxes had better […]

My introduction (so to speak) to Ann Romney came, if I recall correctly, about two years ago, when I read an article (I can’t remember where) that profiled the Romneys in-depth.  The article discussed the Seamus matter, and the 2007 Boston Globe article in which the Romneys’ son Tagg revealed the incident to reporter Neil […]