Tag: ‘millionaire tax’

Cap and Trade Plans, Tax Deadlines, and Rate Drops

By :: January 5th, 2015

Washington Governor Jay Inslee proposes a statewide cap and trade program. The Democrat released details of his carbon pollution market program that would give the state’s Department of Ecology authority to set annual goals aimed at reducing emissions to half of 1990 levels. Inslee would extend the state’s sales tax exemption for alternative fuel vehicles, […]

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Buffett Rule Revenue

By :: May 4th, 2012

Critics of the Buffett Rule often argue that the idea is hardly worth the trouble since it would raise taxes on less than a tenth of one percent of Americans and generate less than $5 billion a year. With annual deficits projected at 100 times that amount over the next decade, the additional revenue is […]

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How Would the Buffett Rule Affect Marginal Tax Rates?

By :: February 14th, 2012

The Paying a Fair Share Act of 2012 (PFSA) – Congress’ first crack at legislating the Buffett rule – would apply a broad-based 30 percent minimum tax for those earning more than $1 million a year. We have a pretty good idea of how this would affect people’s taxes: it would substantially raise them but […]

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A Buffett Rule Proposal in Congress

By :: February 9th, 2012

In his State of the Union speech, President Obama’s called for a new law that would require high-income people to pay at least 30 percent of their income in taxes. In response, Senator Sheldon Whitehouse (D-RI) and Representative Tammy Baldwin (D-WI) have introduced the Paying a Fair Share Act of 2012, a proposal designed to […]

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The Democrat’s Millionaire Tax: Smart Politics, Awful Policy

By :: October 6th, 2011

Senate Democratic Leader Harry Reid’s plan to fund a $445 billion stimulus, err, jobs bill with a 5.6 percent surtax on millionaires is not all bad. After all, Tax the Rich does make a nice campaign bumper-sticker. But it is mostly bad. Why? Here are five reasons. The idea, endorsed today by President Obama, would […]

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