Update: Mike Konczal also takes a look at this question in Who are the one percent and what do they do for a living.Update 2: Another source for historical trends on inequality is at The Center for Budget and Policy Priorities by Taryn Hart Taryn Hart publishes at her blog Plutocracy files and has interviewed […]
by Linda Beale Gingrich tax ‘plan’ starves government, feeds the wealthy, rests on flawed assumptions In case you hadn’t heard about it, Gingrich would offer taxpayers a choice to pay tax under current policy or at a 15% rate, with zero taxation of capital gains, dividends and interest that accrues mostly to the rich and […]
by Mike Kimel Peter Diamond, Emmanuel Saez, Paul Krugman and Me!! Looking at Optimal Tax Rates Via Paul Krugman, I learned of this paper by Peter Diamond and Emmanuel Saez. Diamond, of course, is a Nobel Laureate. I will be shocked if Saez isn’t one too in ten or fifteen years. Long story made very […]
by Linda Beale GOP two-step approach problematic Discussion continued apace yesterday about the “supercommittee” and the idea of agreeing to agree someday on some revenue increases while going ahead with cuts. This approach is a terrible one since it gives the obstructionist GOP members just another setting in which to refuse to go ahead with […]
By Linda Beale Infrastructure gamesmanship puts wealthy ahead of jobs, good bridges, and country For those who are paying attention to the House and Senate these days, it seems like a frustrating exercise. Mostly it is one of watching the “do-nothing” Republicans find excuses for never requiring millionaires and billionaires to pay their fair share […]
by Mike Kimel A Post: Tax Burdens, Presidents, and Subsequent Economic Growth – A Few Pictures, Part 1 Last week I had a post looking at the relationship between the change in the tax burden in the first two years of a Presidential administration and the growth of real GDP during the remaining years of […]
Op ed by Nancy Ortiz Scott Hochberg’s article Making E-Verify Mandatory: The Perfect Storm for Crippling the Social Security Administration and Jeopardizing the Social Safety Net discusses issues regarding the e-Verify system and a move in Congress to make it mandatory for everyone hired for a job in the US. He points out that eVerify […]
PGL, in the process of an optimistic piece, points us to Martin Feldstein ringing in 2011. Apparently, the reason is this: The most substantial potential boost to spending comes from a temporary reduction of the payroll tax, lowering the rate paid by employees on income up to about $100,000 from 6.2 per cent to 4.2 […]
by Linda Bealecrossposted from Ataxingmatter Why Tax Law Should be Required of All Law Students We tax profs have a tendency to tell our colleagues that tax law should be a mandatory topic for all law students because there’s nothing that you do that has economic consequences for which tax law isn’t relevant. Whether you […]
by Linda Beale ABA Tax Section Report on the Economic Substance Doctrinecrossposted with Ataxingmatter The ABA Tax Section put together a large working group to write a report on the newly codified economic substance provision–Download ABA Economic Substance. Comments on Notice 2010-62. The working group was led by several people, including Michael Desmond, who just […]