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    How Much More Can We Redistribute: IRS Releases New Data

    The IRS released data today on the distribution of income taxes. It shows that the highest-earning taxpayers shoulder a considerable burden of the federal income tax. According to the IRS, the top 1 percent of taxpayers paid over 40 percent of all federal income taxes in 2007. That is a … More

    What Next? Taxpayers Buying Humor Edition (Updated)

    While America debates rising deficits, rising debt, and reckless spending bills, the mood in Washington is understandably sour. For the Americans fortunate to have jobs in this recession, there is still a sense of anxiety about what is around the economic corner. For their jobless friends and family, there is … More

    Where Does Your State Rank In Rangel's Surtax Plan?

    Morning Bell: The Health Care Taxapalooza

    Throughout his campaign, President Barack Obama repeatedly promised the American people: “If you’re a family that’s making $250,000 a year or less you will see no increase in your taxes. Not your income tax, not your payroll tax, not your personal gains tax, not any of your taxes.”  Just 15 … More

    California: The National Petri Dish

    Supposedly, trends start in California and then spread to the rest of the country, a notion that seems to be confirmed by the latest economic news. In May, California’s unemployment rate hit 11.5 percent—the highest it has been since 1941. This morning, we learn that unemployment for the entire country … More

    Why Europe Fears ‘Tax Competition’

    Back in April, after the G20 Summit, we at Heritage warned that the Summit’s attack on tax havens was, at best, an irrelevancy. At worst, it was “the start of a broader campaign to find new sources of money to tax and stigmatize as international wrongdoers states that, as an … More

    President Obama’s Budget will Spread More Wealth Around

    Everyone remembers President Obama’s now-infamous comment as a candidate that he thinks everyone is better when we “spread the wealth around.” Of course, we spread plenty of wealth around through the tax code before Obama became President. In 2006, the latest year of available data, the top 20 percent of … More

    The Coming Obama Tax Explosion

    According to Time, the Center for American Progress (CAP) is “the most influential independent organization in Obama’s nascent Washington.” The brainchild of former Clinton White House chief of staff John Podesta, President Obama “effectively contracted out the management of his own government’s formation to Podesta.” So take notice when CAP … More

    IMF Tax Recommendation Indicates Obama Tax Policy Off-Target

    On June 15, the International Monetary Fund (IMF) released a study suggesting national tax policies contributed to, but did not cause, the credit boom and bust that caused the global recession. The IMF noted that countries with income taxes tend to impose heavier tax burdens on equity than debt, thereby … More

    Microsoft: Obama Tax Hikes Will Cost US Jobs

    Bloomber reports: Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits. “It makes U.S. jobs more expensive,” Ballmer said in an interview. “We’re better off … More