January 20, 2014

Taxing The Rich: A Liberal Argument For A Progressive Tax System To Grow The Economy

Conservatives will play the “class warfare” card if you dare mention a tax increase on the rich. And if you talk about income inequality, well, this means you are simply envious, and you are trying to “punish success.” But for this conservative “logic” to be rational, wouldn’t we have to consider the current progressive tax system to also be unfair? — Well, as it turns out, that is exactly what many conservatives say about progressive taxation, but it doesn’t mean their assessment is sound.

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August 29, 2013

IRS To Recognize Same-Sex Marriage For Federal Tax Purposes

This has to be one of the more unusual issues for people to cheer about, but it’s a big deal. Today the U.S. Treasury Department announced legally married same-sex couples will be treated as married for all federal tax considerations. This includes federal income tax filing status, estate tax, and more. The announcement comes only months after the Supreme Court ruled the Defense of Marriage Act, which defined marriage as only between a man and a woman, as unconstitutional.

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July 22, 2012

Mitt Romney Tax Return Scrutiny Calls Attention To Progressive Taxation

It’s quite possible the real reason Mitt Romney does not want to release more years of tax returns is that he knows it will only serve to put a sharper focus on progressive taxation in the United States. In fact he and his wife Ann have all but said that. They haven’t spelled out the specifics but they have said they won’t release more returns because it will result in more criticism.

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July 12, 2012

Republicans Bank On Ignorance, Especially When It Comes To Taxes

President Obama revealed his tax plan on Monday. It looks a lot like the tax plan he supported as candidate in 2008 and in the first 3+ years of his presidency. Obama wants to extend the “Bush tax cuts” for the middle class while letting the tax cuts for those making over $250,000 expire at the end of this year. Republicans respond with their usual nonsense. They say we can’t raise taxes on the “job creators” in a bad economy. I call this the first deception by Republicans when it comes to taxes. They count on ignorance to advance their agenda. Republicans hope Americans believe that jobs are created by giving tax breaks to millionaires and billionaires. Nevermind that fact that the Bush tax cuts have been in place for over a decade and we have nothing to show for it.

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May 8, 2012

Federal Government Posts First Monthly Budget Surplus In Three Years

It’s a bit misleading, but the federal government had a $58 billion surplus in April according to the Congressional Budget Office (CBO). The surplus is due to tax season, which results in an April surplus most years even if the yearly numbers are still deep in the red. It’s notable because there hasn’t been a surplus month in three years and it could be a sign of an improving economy.

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