Tax Hikes and the 2011 Economic Collapse

It shouldn't surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates.

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What ObamaCare wil look like

The future of our healthcare system if ObamaCare passes:

What Do Detroit, the Postal Service, and Health Care Reform Have in Common?

The Failed State of California - The Changing Landscape of America

The future of California doesn't look good:

The Failed State of California - The Changing Landscape of America

Guess Who Really Pays The Taxes

From Stephen Moore in The American:

"The latest data show that a big portion of the federal income tax burden is shoul­dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes."


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Free Trade Works

Since Nafta took effect on Jan. 1, 1994, the U.S. economy has added a net 26 million new jobs. The average real hourly compensation (wages and benefits) of workers has climbed 23%. Real median household net worth has increased by a third. Of course, Nafta was not the primary driver of all that good news. But it is a useful counterpoint to the sense that large numbers of Americans have been "devastated" by Nafta and other trade agreements.

In recent years, U.S. manufacturers have enjoyed record output, revenue, exports and profits. Since Nafta, U.S. manufacturing investment in Mexico has averaged a modest $2 billion a year -- a tiny fraction of the $150 billion or more those same companies invest annually in domestic manufacturing capacity. American factories actually added a net half-million new manufacturing jobs in the five years after Nafta.

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Democrat Theat To Proseperity

From Arthur Laffer:

"...over the last 25-plus years, the only group that experienced an increase in income taxes paid as a share of GDP was the top 1% of income earners. Even the top 2%-5% of income earners saw a decline in the GDP share of their income taxes paid..."

"...The effective average tax rate for the top 1% of income earners barely wiggles as Congress changes tax codes after tax codes, and as the economy goes from boom to bust and back again (see chart).

The question is, how can that effective average tax rate be so stable? The answer is simply that the very highest income earners are and have always been able to vary their reported income and thus control the amount of taxes they pay. Whether through tax shelters, deferrals, gifts, write-offs, cross income mobility or any of a number of other measures, the effective average tax rate barely budges. But this group's total tax payments are incredibly volatile..."

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Tax Policy For The Next President

From todays Wall Street Journal:

... The first ticking bomb is the fate of the Bush tax cuts. CBO's optimistic federal budget surplus projection is based on the assumption that Congress will allow the president's tax cuts to expire as scheduled at the end of 2010. That would trigger the largest tax increase in history (nearly $1.9 trillion over seven years), raising taxes on 115 million taxpayers, and returning to the tax rolls 7.8 million low- and middle-income families who now pay no federal income tax because of the Bush tax cuts. If this bomb explodes, one thing is certain: It will damage the economy ...

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Soak The Rich

From todays Wall Street Journal:

"... the richest 1% paid about 39% of all income taxes that year. The richest 5% paid a tad less than 60%, and the richest 10% paid 70%. These tax shares are all up substantially since 1990, and even somewhat since 2000. Meanwhile, Americans with an income below the median -- half of all households -- paid a mere 3% of all income taxes in 2005 ..."

"... The average family of four with an income of $40,000 saw its income tax liability fall by about $2,052 a year from the 2001 and 2003 tax cuts ..."

"... If Democrats really want to soak the rich, they'll keep tax rates where they are, or, better, lower them some more .."

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