Underfunding the IRS helps the very wealthy at the expense of the middle and working class. We now have a $458 billion annual gap between how much mostly rich taxpayers owe and how much they actually pay.
The Patriot Millionaires network has brought the drive to close one of Wall Street’s most lucrative tax loopholes to the New York statehouse. The bill these affluent activists back could set a key precedent.
Energy policies exacerbate inequality by placing the costs of climate change on the most vulnerable Americans. The general public bears the costs in both higher prices and higher taxes at the same time that fossil fuel companies continue to enjoy massive subsidies.
In general, sales taxes are indeed regressive; moreover, as I recently argued, sales taxes are partly “passed back” onto suppliers, hitting small businesses hardest. But wait… Imagine that we impose a sales tax on diamonds. Would we worry about the burden on middle class purchasers of one-fourth-caret engagement rings? What about the part of the […]
Romney went to the trouble of filling out a Form 4684 (Casualties and Thefts) to report losses of $39. One can only wonder what was broken or stolen. I like to think that the $39 were lost in the world’s smallest shipwreck. I guess it’s just the romantic in me.
In the real economy – the place where the 99% live and work – it’s hard to take Mitt Romney’s plan seriously; but let’s try to make sense of it anyway, unhindered by logic, arithmetic or the laws of time, space and gravity.
As the economic news in the United States gets worse and worse every week, a lot of Americans are saying “at least we’re not Europe.” To read the press accounts, it sounds like Greece is plunging Europe into a second Great Depression. Greece is having trouble paying its debts, and many people are worried that […]