PICKET: New book shows U.S. top earners pay larger share of taxes than any other industrialized nation
The Wall Street Journal's Stephen Moore has just come out with a new book titled Who's the Fairest of Them All?: The Truth about Opportunity, Taxes, and Wealth in America and
he reveals some interesting information about how much the top ten
percent of income earners in the United States pay in federal income
taxes as opposed to any other industrialized nation in the world.
According to Moore, these earners pay almost half (45 percent) of the country's total taxes. This conclusion flies in the face of the liberal concept that top earners in the U.S. are not paying their "fair share" in taxes. Moore explains:
According to Moore, these earners pay almost half (45 percent) of the country's total taxes. This conclusion flies in the face of the liberal concept that top earners in the U.S. are not paying their "fair share" in taxes. Moore explains:
"The United States is actually more dependent on rich people to pay taxes than even many of the more socialized economies of Europe. According to the Tax Foundation, the United States gets 45 percent of its total taxes from the top 10 percent of tax filers, whereas the international average in industrialized nations is 32 percent. America’s rich carry a larger share of the tax burden than do the rich in Belgium (25 percent), Germany (31 percent), France (28 percent), and even Sweden (27 percent)."Moore also delves into what the "47 percent" of America actually pays and receives from the federal government and that the perception that the middle class is shrinking is a myth. In fact, the actual trend has been an upward mobility and a better standard of living for the middle class and lower income earners in the last 25 years.
Read more: More Here http://www.washingtontimes.com/blog/watercooler/2012/oct/9/picket-new-book-shows-us-top-earners-pay-larger-sh/#ixzz28qey8Xzi
Cook County mulling violence tax on guns and ammunition
BY LISA DONOVAN
Cook County Reporter
ldonovan@suntimes.com
October 9, 2012 1:02AM
Cook County Board President
Toni Preckwinkle attended a groundbreaking at the Oak Forest Health
Center Tuesday. | Larry Ruehl~Sun-Times Media
Related Stories
Updated: October 9, 2012 11:10AM
Drawing the ire of the gun
lobby, Cook County Board President Preckwinkle is eyeing a violence tax
on guns and ammunition sold in the city and suburbs, the Chicago
Sun-Times has learned.
Such a tax alone wouldn’t close a $115 million
budget gap in 2013, but it could at least funnel money into the county’s
$3 billion operation — where roughly two-thirds of the budget pays for
both the county’s public health clinics and two hospitals along with the
criminal justice system that includes the courts and jail.
“If
we were to pursue a tax on something like guns and ammo, clearly that
wouldn’t be popular with the [gun lobby] out there, and it may not
generate $50 million, but ... it is consistent with our commitment to
pursuing violence reduction in the city and in the county,” Kurt
Summers, Preckwinkle’s chief of staff, said on Monday.
Jack Welch: I Was Right About That Strange Jobs Report
The economy would need to be growing at breakneck speed for unemployment to drop to 7.8% from 8.3% in the course of two months.
By JACK WELCH
Imagine a country where challenging the ruling authorities—questioning, say, a piece of data released by central headquarters—would result in mobs of administration sympathizers claiming you should feel "embarrassed" and labeling you a fool, or worse.Soviet Russia perhaps? Communist China? Nope, that would be the United States right now, when a person (like me, for instance) suggests that a certain government datum (like the September unemployment rate of 7.8%) doesn't make sense.
Unfortunately for those who would like me to pipe down, the 7.8% unemployment figure released by the Bureau of Labor Statistics (BLS) last week is downright implausible. And that's why I made a stink about it.
wsj.
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