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Tag Archives: capital gains
Saez: The Top 1% Captured 121% of the Income Gains in the First Two Years of the Recovery
The inimitable Emmanuel Saez has updated his seminal study, tracking the increasing concentration of income in America. The major takeaway from the study is the top 1% captured 121% of the income gains in the first two years of the recovery. The finding that … Continue reading
Nobel Laureate Explains Why Inequality is Stifling Economic Recovery
Nobel Laureate, Joseph Stiglitz, explains why inequality is stunting economic recovery. “There are four major reasons inequality is squelching our recovery. The most immediate is that our middle class is too weak to support the consumer spending that has historically … Continue reading
Posted in Economy, Inequality, Socio-economic Status, Taxes
Tagged aggregate demand, business cycle, capital gains, great recession, inequality, middle class, Stiglitz, tax rates, taxes, top 1%
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GOP Opposed Congressional Research Service Study Returns Like Lazarus
Congressional Republicans didn’t like the conclusion of “Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945” so they pressured the nonpartisan Congressional Research Service to withdraw it. The GOP didn’t like the study’s conclusion that there … Continue reading
Posted in Economy, Government, Income Distribution, Inequality, Science, Socio-economic Status, Taxes
Tagged capital gains, economic growth, economy, evidence, GOP, investment, marginal tax rates, productivity, savings, supply-side economics, tax cits, trickle-down economics. science
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The Wealthiest Effective Tax Rate Continues to Fall: Government is Deciding Who the Winners and Losers Are
IRS data for 2010 reveals the effective tax rates for America’s top income earners, making more than $500,000, continues a downward trend which has been occurring for years. For taxpayers making more than $10 million the average rate fell from 22.4 … Continue reading
The Rich Don’t Leave States that Increase Their Taxes Nor Do They Change Their Work Effort or Entreprenurship
On June 3, I reported on a study which debunked the claim that if States raise taxes on millionaires they will leave the State for another more attractive, less-taxing State. A new study supports the conclusion that increases on wealthy taxpayers … Continue reading
The Definitive Timeline Of Romney’s Ever-Evolving Tax Plan
The following is a timeline description of Governor Romney’s changing positions on his tax proposal. It should be noted this comes from a liberal blog, ThinkProgress. Nonetheless, I have randomly fact-checked many of the statements and found supportive documentation. Via … Continue reading
Posted in Economy, Elections, Government, Income Distribution, Presidential Leadership, Socio-economic Status, Taxes
Tagged bonds, Bush tax cuts, capital gains, changing positions, corporate tax cuts, deductions, deficit, economic growth, GDP growth, marginal tax rates, middle class, mortgages, Romney, socio-economic status, tax loopholes, tax plan, top 1 percent
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Republican Strength in Congress, Decline of Unions, Tax Policies and Stock Market are Important for Aiding Super-Rich
A new study in the American Sociological Review finds Republican strength in Congress is an important factor in aiding the super-rich, but the President’s party affiliation is not related. The authors, Thomas W. Volschoa and Nathan J. Kellyb, provide the following … Continue reading
Posted in Economy, Government, Income Distribution, Inequality, Presidential Leadership, Socio-economic Status, Taxes, Wealth
Tagged capital gains, Congress, economy, income distribution, inequality, party, policy, politics, President, social class, socio-economic status, super-rich, tax rates, top 1%, unions
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Huh? Romney’s Own Site Debunks Romney’s “Tax Plan Denial”
During the first presidential debate Mitt Romney walked away from his tax plan that he has been promoting for months, specifically that he had no intention of cutting taxes on the rich. He said, “I cannot reduce the burden paid by high-income … Continue reading
Posted in Elections, Government, Income Distribution, Socio-economic Status, Taxes, Wealth
Tagged capital gains, death tax, debate, marginal tax rates, mendacity, prevarication, Romney, tax plan
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The Causes of Income Inequality
Numerous scholars have identified various factors associated with growing levels of income inequality. This is a summary of some, not all, of the more prevalent evidence-based studies. Stock Market, Rise of Financial Sector and Finance Driven Technology Boom. Galbraith (2012) places a … Continue reading
Posted in Economy, Income Distribution, Inequality, Socio-economic Status, Taxes, Wealth
Tagged capital gains, decline of unions, dividends, financial sector, foreign trade, Galbraith, income distribution, income inequality, inheritance, marginal tax rates, Piketty, Saez, stock market, technology boom, wages
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Study: Tax Cuts for Rich Don’t Increase the Size of the Economic Pie But Affect How the Economic Pie is Sliced
A new report from the Congressional Research Service provides additional evidence that tax cuts for the rich aren’t associated with increasing economic growth, as suggested by trickle-down, supply-side economics. After analyzing the relationship between tax rates and economic growth since … Continue reading