TLDR Version: Yes, the America that fought in WW2 and The Cold War, put a man on the moon, passed The Civil Rights Act of 1964, and was watching Leave it to Beaver (The America that was Great!), had a Top Marginal Tax Rate that would make Bernie Sanders blush. See for yourself. Beginning with […]
Taxes
Do Tax Cuts Increase Revenues? No, Tax cuts do not Increase Revenue
Business Cycles: GDP and Revenues Correlating Tax Rates with Revenue Reagan TaxCuts: The Facts Bush Tax Cuts: The Facts Historical Tax Rates The Laffer Curve In Conclusion Further Reading The argument that tax cuts create or increase revenue is an old myth that simply refuses to go away. The logic behind this argument is that cutting […]
Did Jerry Brown call California Tax Payers Free Loaders? Not likely.
Claim: Jerry Brown called California tax payers freeloaders Fact: It’s not 100% clear who the “freeloader” comment was directed to. Given the topical order of the article, it seems almost certain he was referring to GOP opponents. In a recent visit to Orange County (CA) California Governer Jerry Brown defended a gas tax and local legislator. […]
Half of Americans Pay no Taxes – A Myth that refuses to go away
The facts regarding the percentage of Americans are as follows: Roughly half of all Americans pay no federal income taxes specifically About 86% of Americans pay Federal taxes of some sort (because everyone who earns a paycheck pays payroll taxes). Lower income earners still pay local/state taxes Everyone pays a variety of sales taxes Payroll […]
Obama’s Tax Increase and Short Term Memory
The ‘Fiscal Cliff’ deal included allowing the payroll tax holiday to expire. This tax holiday actually began under Obama so it’s merely going back to the same rates they were when Obama was inaugurated. Nevertheless, many on the right are screaming over the ‘tax increase’ and claiming this is an example of Obama breaking his […]
Obama wants to raise taxes on small business owners – Fact or Myth?
I somehow found myself watching Fox News earlier (for the first time in awhile). Greta Van Susteren was interviewing Paul Ryan. Great (who Bill O’Reilly claims is a “liberal”), was throwing softballs for Paul Ryan to knock out of the park and not surprisingly didn’t challenge him on his claim that Barack Obama’s plan to […]