Tag: taxes
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…
The Republican candidates have made it very clear that increased revenue should play no part in the effort to restore fiscal balance. As a result, all the balancing is accomplished through cuts to programs, including those that many retirees rely on such as Medicare. Moreover, a recent analysis of Governor Romney’s tax proposals by t…
