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It’s time to bash the wealthy! News media love to tell the common people just how rich the top 1 percent are, letting us know what kind of stuff they own and remind us that most of them contribute to [evil] Republicans.
Obama administration staffers discussing President Obama’s proposed balanced approach to reducing the deficit a few dollars – there is no interest in discussing the debt or unfunded future liabilities – have shown little or no interest in spending cuts.
Slipping under the radar last month was news that the federal government sued NetJets, a company owned by Warren Buffet’s Berkshire Hathaway, for some $366 million in unpaid taxes and penalties. The legal question, as with most tax cases, is complex.
I’ve had some Facebook friends post informational graphics concerning tax policy and health care issues. Almost every one is published by a liberal organization in support of President Obama and liberal policies. They are designed with emotion as the foundation. Here is my first shot at a conservative image you can download and post on Facebook.
He’s got no problem paying more taxes so “his country will grow,” but once he hears the French president is suggesting a 75 percent tax on income of more than $1 million Euros, he balks.
We’ve been telling you this for years. You can pick out individual cases where really rich people – especially those living exclusively on dividend income – pay a lower effective federal income tax, but that is rare. For the 2010 tax year, IRS data proves millionaires payed an average tax rate of 20.4 percent, while…
This is a rehash of my April 2011 post. Since we’re taking about the “Buffett Rule” I thought it appropriate to duplicate this post.