August 2011 Archives

Data on Top 20 Corporations Using Repatriation Amnesty Calls into Question Claims of New Democrat Network

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The twenty companies that repatriated the most offshore profits under the temporary repatriation amnesty enacted by Congress in 2004 now have almost triple the amount of profits “permanently reinvested” (i.e., parked) overseas as they did at the end of 2005. The figures call into question a recent report from the New Democrat Network (NDN) supporting a second repatriation amnesty.

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Rick Perry's "Flat Tax" and "Fair Tax" Both Mean Higher Taxes for Most Americans, Lower Taxes for the Rich

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Texas Governor and presidential candidate Rick Perry has endorsed both the concept of a flat income tax and the so-called “Fair Tax,” which is a national sales tax. Estimates from the Institute on Taxation and Economic Policy (ITEP) show that both of these proposals would result in substantial tax increases for the poor and middle-class and significant tax cuts for the rich.

Read the report.

Texas Governor and presidential candidate Rick Perry has endorsed both the concept of a flat income tax and the so-called “Fair Tax,” which is a national sales tax. Estimates from the Institute on Taxation and Economic Policy (ITEP) show that both of these proposals would result in substantial tax increases for the poor and middle-class and significant tax cuts for the rich.

Texas Governor and presidential candidate Rick Perry has endorsed both the concept of a flat income tax and the so-called “Fair Tax,” which is a national sales tax. Estimates from the Institute on Taxation and Economic Policy (ITEP) show that both of these proposals would result in substantial tax increases for the poor and middle-class and significant tax cuts for the rich.

Texas's High Taxes on the Poor Belie Rick Perry's Statements that They Need to Pay More

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Texas Governor and presidential candidate Rick Perry said that he is “dismayed at the injustice that nearly half of all Americans don’t even pay any income tax.” He should know that Americans pay other types of federal taxes besides just federal income taxes, and that they also pay state and local taxes. This is particularly true in Texas, which, despite its reputation, is actually a high-tax state for the poor.

Read the report.

Photos via Gage Skidmore Creative Commons Attribution License 2.0

President Obama Breaks His Promise on Taxes Again

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The so-called “Budget Control Act” that President Obama signed into law today to increase the federal debt ceiling and reduce the federal budget deficit marks the second time the Obama administration has capitulated on tax policy to the most extreme elements in Congress, those who are least in touch with the American people and most willing to risk economic disaster to get their way.

Read the statement.



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