Taxes: one of the bright lines distinguishing Trump from Clinton

Contrary to the "there's no difference between the two parties" nonsense, the core of GOP tax policy since the 1970s has been tax cuts for the rich -- paid for by cutting benefits for everybody else and increasing deficits. Despite Trump's faux-populist rhetoric, his tax proposal is right-wing orthodoxy. Now he seeks to dress this … Continue reading Taxes: one of the bright lines distinguishing Trump from Clinton

Ugly truths about income inequality in America, which no politician dares to say

Summary:  A new books by journalists Barlett and Steele shows some ugly and seldom-mentioned aspects of the growing inequality in America.  Most especially, the role of government policy. It didn't just happen. "Avarice, the mother of all wickedness, who, always thirsty for more, opens wide her jaws for gold." --- Claudianus, De Laudibus Stilichonis, II, … Continue reading Ugly truths about income inequality in America, which no politician dares to say

Jared Bernstein examines the economic impact of raising taxes on high-income households

Summary:  Three of the most significant changes in America's social and economic structure since the Reagan Revolution in 1980 are slowing GDP growth, the rising federal deficits and the great increase of inequality in wealth and income.  Increasing taxes on the wealth might help reverse two or even all three of these trends.  Today's post … Continue reading Jared Bernstein examines the economic impact of raising taxes on high-income households

Why Republicans Need Remedial Math: Their Budget Plans Explode the Deficit

Summary:  Mike Lofgren provides more analysis of the Republican Party's obsessions with reducing taxes on the rich and massive military spending -- paid for by massive sustained borrowing.  The last period of balanced budget (at least on a cash accounting basis) under President Clinton fades into history, as the GOP leads us towards the post-Constitutional era.  … Continue reading Why Republicans Need Remedial Math: Their Budget Plans Explode the Deficit

Inequality in the USA (also, we have a flat tax system)

Conservatives are fond of citing how much of the tax burden is carried by the rich.   These usually consider only income taxes, not including payroll taxes.  A wonderful example is provided in "An Obama Gift for K Street", Robert J. Samuelson, Washington Post, 15 December 15, 2008 -- Excerpt: Sure, the wealthy extract privileges from … Continue reading Inequality in the USA (also, we have a flat tax system)