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16

Apr

CNN poll shows that 72% of Americans support a 30% minimum income tax for those who earn over $1 million per year. 
On Monday, Senate Republicans blocked a move to open debate on the proposal.
Mitt Romney paid 13.9% in income tax on $21.7 million in income in 2010. A single wage earner who earned $34,000 in 2010 was in the 25% income tax bracket. A married couple who earned $68,000 was in the 25% income tax bracket.
The system is broken and Republicans not only don’t want to fix it, they want to break it even more by offering tax cuts that will benefit the wealthy even more.

CNN poll shows that 72% of Americans support a 30% minimum income tax for those who earn over $1 million per year.

On Monday, Senate Republicans blocked a move to open debate on the proposal.

Mitt Romney paid 13.9% in income tax on $21.7 million in income in 2010. A single wage earner who earned $34,000 in 2010 was in the 25% income tax bracket. A married couple who earned $68,000 was in the 25% income tax bracket.

The system is broken and Republicans not only don’t want to fix it, they want to break it even more by offering tax cuts that will benefit the wealthy even more.

amprog:

Fairness is here to stay in the public debate and, so far, conservatives are on the wrong side.
Today, Congress is voting on the Buffett Rule. What are your thoughts on fairness?
(Source: americanprogress.org)

amprog:

Fairness is here to stay in the public debate and, so far, conservatives are on the wrong side.

Today, Congress is voting on the Buffett Rule. What are your thoughts on fairness?

(Source: americanprogress.org)

27

Nov

owsposters:

What 25 CEOs Make v. What Their Corporations Pay in Taxes
Contributed poster
Download the poster pack
Public domain

owsposters:

What 25 CEOs Make v. What Their Corporations Pay in Taxes

Contributed poster

Download the poster pack

Public domain

owsposters:

Corporate Profits Skyrocketed, Taxes Paid Zero
Contributed poster
Download the poster pack
Public domain

owsposters:

Corporate Profits Skyrocketed, Taxes Paid Zero

Contributed poster

Download the poster pack

Public domain

20

Nov

DISPATCHES: Forget What You Heard — Corporations Pay Less Tax in the U.S.

benjaminlandy:

A final word on the Citizens for Tax Justice and Institute on Taxation and Economic Policy report, covered previously here and here.

Conservatives frequently attack the U.S. corporate income tax as the second highest in the OECD. “The high rate in the U.S. is driving businesses and…

14

Nov

cartoonpolitics:

but why let facts get in the way if you know you’re right ? ..

cartoonpolitics:

but why let facts get in the way if you know you’re right ? ..

04

Nov

itsthemusicpeople:

findings from the report “Corporate Taxpayers & Corporate Tax Dodgers 2008-2010” by Citizens for Tax Justice

21

Oct

Robert Reich: The Flat-Tax Fraud, and the Necessity of a Truly Progressive Tax

robertreich:

Herman Cain’s bizarre 9-9-9 plan would replace much of the current tax code with a 9 percent individual income tax and a 9 percent sales tax. He calls it a “flat tax.”

Next week Rick Perry is set to announce his own version of a flat tax. Former House majority leader Dick Armey – now chairman of…

Please click through and read the entire piece.

19

Oct

Job Creation & Unemployment Are Unrelated to Income Tax Rates

Tax cuts for the wealthiest Americans (or as the Fox Newsies like to call them, the “job creators”) DO NOT CREATE JOBS.

Tax cuts for the wealthiest Americans (or as the Fox Newsies like to call them, the “job creators”) DO NOT CREATE JOBS.

"[F]or all the years for which official data exists, higher tax rates have been accompanied by faster economic growth and lower tax rates were accompanied by slower economic growth… . Anyone telling you that lower tax rates lead to faster economic growth in the U.S. either should begin by explaining why this time it’s different or has nothing useful to say about the subject.”

"[F]or all the years for which official data exists, higher tax rates have been accompanied by faster economic growth and lower tax rates were accompanied by slower economic growth… . Anyone telling you that lower tax rates lead to faster economic growth in the U.S. either should begin by explaining why this time it’s different or has nothing useful to say about the subject.”

18

Oct

Where does your income tax go?

Where does your income tax go?

11

Oct

03

Oct

Tax Hikes Will Affect 2.5% to 3.5% of All Small Businesses

"The Republican claim that this is a tax increase on a large fraction of employers is just not true," said Howard Gleckman, a resident fellow at the Urban Institute.

In sharp contrast to the rhetoric, current data suggests small businesses don’t create an outsized number of jobs, very few small business owners fall into the top two tax brackets, and tax cuts for small businesses are ineffective stimulus measures.

Relatively few small businesses would be affected: Extending the tax cuts for top earners for another decade would come at a significant cost — nearly $1 trillion in added debt over a decade.

But small businesses wouldn’t see much of that cash.

Only 2.5% to 3.5% of small businesses would be affected by an increase in those two rates, according to the nonpartisan Congressional Research Service.

Instead, almost all individuals who report business income fall into lower tax brackets, where both Democrats and Republicans want to retain current rates.

According to CRS, 80% of tax cuts in the top two brackets would go to non-businesses.

[A] new report from the Treasury Department found that only 20% of small businesses in 2007 even had employees.

Source: CNN Money

(Source: youtube.com)