As a California citizen, I’m none too pleased by this possibility: Gov. Arnold Schwarzenegger on Thursday proposed $4.4 billion in new taxes and a similar amount in spending cuts to deal with California’s worsening fiscal crisis, saying, “We must stop the bleeding.” Much of the new revenue would come from a 1.5-percentage-point increase in the […]
America’s Tax System the Most Progressive
October 31, 2008 by Leave a Comment
This is fascinating, and vital information: Barack Obama’s admission that his policies would “spread the wealth around” has ignited a nationwide discussion of how progressive the tax system should be and how it should be used to redistribute income among Americans. Â Obama has been very successful in bolstering the conventional wisdom that the U.S. tax […]
If You Can’t Beat ’em, Join ’em
October 29, 2008 by Leave a Comment
There’s something positively Atlas Shrugged-like about the image of laid-off Wall St. brokers lining up around the block to apply for work at the Internal Revenue Service: Benjamin Franklin said that nothing in this world is certain except death and taxes. When death is not an option and the world is maximizing the uncertainty, taxes look […]