Tag Archives: Taxes

Why the rich have all the money and pay lower taxes than ever

From Robert Reich: The American economy is more than twice as large now as it was thirty years ago. So where did the money go? To the top. The richest 1 percent’s share of national has doubled – from around 9 percent in 1977 to over 20 percent now. The richest one-tenth of 1 percent’s […]

When big businesses run the government

It’s tough to have fair laws: ‘It makes no sense and it has to change,’ Mr. Obama said in his State of the Union address. ‘Get rid of the loopholes. Level the playing field. And use the savings to lower the corporate tax rate for the first time in 25 years — without adding to […]

The Republican model for America

It’s Pakistan: […] in Pakistan, the lack of a workable tax system feeds something more menacing: a festering inequality in Pakistani society, where the wealth of its most powerful members is never redistributed or put to use for public good. […] Much of the tax avoidance, especially by the wealthy, is legal. Under a 1990s […]

The result of conservative economic policies

Conservative economic theory asserts that the economy will flourish when wealthy captains of industry are free from the chains of government regulation and taxes. The wealthy will get more wealthy and spread more money around for the rest of us. A rising tide lifts all boats. Unfortunately for the majority of Americans, their theory was wrong: […]

Congress is throwing your money into a black hole

The evidence that we’re getting fleeced by both the government and the banking industry with this bailout just keeps coming in. The financial world was fixated on Capitol Hill as Congress battled over the Bush administration’s request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury […]

What the tax cut regime has wrought

Next year the United States will run a budget deficit of $490 billion. That will bring total US debt to $10 trillion. (Thanks China!) Then there’s this fun news (@ Ezra Klein): In a new sign of increasing inequality in the U.S., the richest 1% of Americans in 2006 garnered the highest share of the […]

Fixing our tax code in 7 simple steps

You were supposed to file your taxes by yesterday. Shame on you if you didn’t. How else are we supposed to keep the war machine going? Anyways, our tax system in America is a riddled mess. We shouldn’t have to hire people to do our taxes, and rich people shouldn’t be able to hire people […]