Tag Archives: income tax

For Economists Saez and Piketty, the Buffett Rule Is Just a Start – NYTimes.com

17 Apr

A profile of the economists who’ve done the major work on income inequality in the US.

Emmanuel Saez and Thomas Piketty have spent the last decade tracking the incomes of the poor, the middle class and the rich in countries across the world. More than anything else, their work shows that the top earners in the United States have taken a bigger and bigger share of overall income over the last three decades, with inequality nearly as acute as it was before the Great Depression….

Both admire, even adore, the United States, they say, for its entrepreneurial drive, innovative spirit and, not least, its academic excellence: the two met while re-searchers in Cambridge, Mass. But both also express bewilderment over the current conversation about whether the wealthy, who have taken most of America’s income gains over the last 30 years, should be paying higher taxes.

“The United States is getting accustomed to a completely crazy level of inequality,” Mr. Piketty said, with a degree of wonder. “People say that reducing inequality is radical. I think that tolerating the level of inequality the United States tolerates is radical.”

via For Economists Saez and Piketty, the Buffett Rule Is Just a Start – NYTimes.com.

At 102%, His Tax Rate Takes the Cake – Common Sense – NYTimes.com

4 Feb

The rich themselves are some of the most distressed. “None of the dialogue about taxes has anything to do with fairness,” Mr. Ross lamented. “Certain rich people are paying way more than their fair share and other rich people are paying a lot less. I’d like to see a conversation take place along nonideological lines where everyone is asked to pay their fair share, where everyone makes some payment, even if it’s one dollar. Everyone I know is so disgusted. People aren’t stupid. They know what’s going on. At the end of the day, the system is broken.”

via At 102%, His Tax Rate Takes the Cake – Common Sense – NYTimes.com.

Turning the ‘Buffett Rule’ Into Law – NYTimes.com

1 Feb

The Congressional Research Service estimates that the Buffett Rule, requiring millionaires to pay at least the same rate as most middle-income taxpayers, would affect about a quarter of all millionaires, or 94,500 taxpayers. Citizens for Tax Justice, a liberal policy group, says the bill’s 30 percent rate would bring in about $50 billion a year.

via Turning the ‘Buffett Rule’ Into Law – NYTimes.com.