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    Top 1 Percent Pays Effective Tax Rate Nearly Three Times That of Middle Class

    New data from the Congressional Budget Office (CBO) show that President Obama’s much-discussed Buffett Rule, which would require families earning more than $1 million a year to pay an effective tax rate of 30 percent, is basically in effect. The data also show that President Obama’s premise for pushing the … More

    Soaking the Rich Would Not Solve the Long-Term Deficit Crisis

    Earlier this week, we reported on The New York Times’s “deficit puzzle,” which allows you to close both the short-term and long-term budget gaps for the years 2015 and 2030 using cuts to domestic and defense spending, Medicare and Social Security reform, or tax increases. We used the puzzle to … More