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 […]
Detroit’s property tax base, diminished and badly-assessed, could still fund a renewal if Michigan would only read its history and find the political will.
Sales taxes — of whatever stripe — fall harder on poorer than richer customers. And they squeeze smaller retailers more than big ones.
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.
Europe’s big banks and vulture hedge funds should pay the price for austerity, not government workers and the poor.
Austerity is a political decision, not an economic one. It benefits the few at the expense of the many.
Federal workers have it hard enough without Congress playing politics with their paychecks and pensions.
“Tax and spend.” Those three dirty words are now the key to economic recovery in America’s Realonomy.
By defunding the IRS Congress has virtually eliminated the audit threat for the wealthy, in effect handing dishonest individuals a massive tax cut.