Tag: taxes
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Billionaires do NOT pay an overall tax rate lower than the bottom 50%.
Two months ago, the New York Times uncritically ran an article claiming billionaires pay lower tax rates than the bottom half of American earners. (I see this and related pieces circulated by my progressive friends.) The unsubstantiated and yet-to-be-reviewed data came from economists Emmanuel Saez and Gabriel Zucman, a tease to promote their soon-to-be-released book.…
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Economics Links
1. Here's The Chart That Destroys What Republicans Are Saying About The Deficit 2. The 10 Most Popular Charts On The World's Most Amazing Economics Website Here is one example: Nominal GDP (3.1% growth year over year in Q2): 3. Global trade volume and world industrial production both reached new record highs in July 4.…
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Debt, Spending and Taxes: All Time Highs? (3 Charts)
Business Insider has these three interesting graphs from the Bureau of Economic Analysis. Personal taxes are a little below the forty-year average, but federal spending including transfers, is near all-time highs, mostly due to an explosion in transfer payments. There is some good news from the New York Times: The Incredible Shrinking Budget Deficit ……
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Graphically Misrepresenting the National Debt (CBPP)
The chart below is making the rounds at liberal news outlets today. I wasn't going to comment on this because I don't like engaging in deeply partisan topics on this blog, but the stat guy in me just can't keep quiet. 😉 Here is the chart: I'm going to take the percentages at face value.…
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Tax Justice
PBS Religion and Ethics NewsWeekly: Tax Justice Watch the full episode. See more Religion & Ethics NewsWeekly.
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Greg Mankiw on the Tax Deal
Greg Mankiw: Greg Mankiw on the Tax Deal I am generally pleased with the compromise over taxes the President and Republicans struck yesterday. (The President should be too, but he seemed dejected at his news conference. Buck up, Mr President! You don't want anyone to start thinking of the word "malaise.") One aspect of the deal struck…
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The Blur Between Spending and Taxes
New York Times: The Blur Between Spending and Taxes Greg Mankiw SHOULD the government cut spending or raise taxes to deal with its long-term fiscal imbalance? As President Obama’s deficit commission rolls out its final report in the coming weeks, this issue will most likely divide the political right and left. But, in many ways,…