Tag: taxes
If you believe, as I do, that higher taxes should be part of solving the nation’s debt and deficit problems, then the fiscal cliff should be viewed as an opportunity as well as a threat. Including taxes as part of the solution is hardly an extreme position; both the Bowles-Simpson and the Domenici-Rivlin plans includ…
As many commentators have pointed out, the main reasons that 47 percent of households do not pay federal income taxes are provisions in the tax code that 1) provide basic exemptions for subsistence level income; and 2) offer tax expenditures that wipe out a household’s tax liabilities or provide refundable credits. These provisions mainly benefit…
