The Democratic Party’s Income Tax
The U.S. income tax code is infamous for its complexity (think special interest lobbyists), and its “progressive” nature—named not for the fact that it increases with increasing income but rather, because it was the brainchild of the Progressive party that is now called the Democratic Party. In that sense, maybe we should call it the “Democratic Party Income Tax”. However, let’s assume that there are | Read More »
Income tax rates…what is “fair”?
As we wrap up the annual waste-of-lives-endeavor (the federal income tax system), a poll again seems relevant. The poll reported in the Wall Street Journal asked what would be a “fair” tax, not on hard-earned, everything-at-risk, rags-to-riches American success story individuals but rather, for a lottery windfall. The results revealed that less than one-fourth chose a rate for the mega-million lottery winners of over 30% | Read More »