Tag: ‘fairness’

President Obama Targets the "Angel of Death" Capital Gains Tax Loophole

By :: January 18th, 2015

The President plans to announce in Tuesday’s State of the Union Address new proposals that would raise taxes on capital gains for the wealthiest Americans. The proposal would raise the top tax rate on long-term gains and qualifying dividends to 28-percent (including the Affordable Care Act’s 3.8 percent investment income surtax on high-income taxpayers). The […]

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How Progressive is Obama’s Tax Policy?

By :: July 23rd, 2014

Has President Obama’s tax policy reduced income inequality? It depends on what you are comparing it to. White House Council of Economic Advisors chief Jason Furman claims that President Obama’s tax policies have sharply reduced inequality. Today’s Washington Post Wonkblog featured some new tables from the Tax Policy Center that show Obama tax policy is […]

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Happy Birthday, Income Tax

By :: February 5th, 2013

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.  [U.S. Constitution, 16th Amendment] On February 3, 1913, Delaware became the 36th state to ratify the 16th amendment to the Constitution, which authorized the US Income Tax. […]

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Was Buffett Right? Do Workers Pay More Tax than Their Bosses?

By :: August 23rd, 2011

When Warren Buffett called for higher taxes on the wealthy in a New York Times op-ed last week, the billionaire investor argued that he and wealthy people like him face lower federal rates than the rest of us. Low rates on long-term capital gains and qualified dividends and limited exposure to payroll taxes mean low […]

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