Do the rich really pay an unfair share?

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Misconceptions and Realities About Who Pays Taxes

By Chuck Marr and Chye-Ching Huang || Updated September 17, 2012 || Center on Budget and Policy Priorities

Executive Summary

Close to half of U.S. households currently do not owe federal income tax.  The Urban Institute-Brookings Tax Policy Center estimates that 46 percent of households will owe no federal income tax for 2011. [1]   A widely cited figure [...]

The Truth About Taxes

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Basics

The income tax on individuals and the payroll tax, which is deducted from workers’ wages and used to help finance Social Security and Medicare, each made up about 40 percent of federal revenues in 2010. The federal government also collects revenue from corporate taxes, excise taxes, and other sources.

Policy Basics: - The Child Tax CreditThe 2001 and 2003 Tax CutsWhere Do Our Federal Tax Dollars Go?The Estate [...]

10 Things Republicans Don’t Want You to Know About Taxes

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By Avenging Angel

Tax Day 2012 has been a busy one for the propagandists of the Republican Party.  After the GOP successfully filibustered the Buffett Rule in the Senate, House Speaker John Boehner claimed that Republicans are “listening to the American people.”  Of course, what Boehner, Mitch McConnell, Mitt Romney and their allies don’t mention is that the Democratic proposal to implement a minimum 30 percent tax [...]

Where do you stand? Is this system fair?

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Check out more great info on inequality from inequality.org!

Wealth Inequality

Wealth inequality can be described as the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation.

Defining Wealth

We equate wealth with “net worth,” the sum total of your assets minus your liabilities.

Examples of assets: checking and savings accounts, vehicles, a home that [...]

Why Don’t the Deficit Hawks Want to Tax Wall Street?

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by: Dean Baker, Truthout | News Analysis |

The intensity with which the country’s leading deficit hawks continue to ignore financial speculation taxes (FST) is getting ever more entertaining. While deficit hawks like Wall Street investment banker Peter Peterson, Morgan Stanley Director Erskine Bowles and The Washington Post never tire of preaching the virtues of shared sacrifice, somehow sacrifice for Wall Street never features as a part of [...]

Michael Moore: The Execs at GE Are Laughing at What a Bunch of Suckers We Are for Filing Our Taxes — Let’s Make Them PAY

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The joke’s on us, folks. GE and tons of other corporations will have a tax bill for 2010 of ZERO.

Friends,

Do you wonder (like I do) what the tax accountants and executives are doing over at GE this weekend? Frantically rushing to fill out their IRS returns like the rest of us?

Hardly. They’re taking the weekend off to throw themselves a big party and have [...]

How 12 Multinational Corporations Avoid Paying Taxes

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A new report shows how some of the world’s biggest companies pay nothing to the IRS through lobbying and loopholes.

By Julianne Escobedo Shepherd

Over the past month, General Electric has been held up as the pinnacle of corporate vampirism –– the world’s largest corporation in the world’s lowest tax bracket. But it’s not just GE that’s bilking the system and paying zero dollars in taxes.

A [...]

America’s Billion-Dollar-a-Year Men

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Hedge fund honchos bet on stocks. They bet on gold. They bet on lawsuits. Most of all, they bet that the rest of us will never wise up to the awesome giveaway our current tax code ladles on them.

By Sam Pizzigati

Only in America can someone make $85 million in a year and feel underpaid.

This past Friday, USA Today’s annual corporate CEO pay survey — the first [...]

US Uncut: Making Corporations Pay (Video)

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Should we close loopholes for Corporations and more strongly enforce tax rates?