taxation   3002

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Paul Krugman Seems to Think It's 1955 When It Comes to Taxes / by John Steele Gordon (Commentary, 2019/01/07)
“I can only assume [Krugman] thinks that the rich vote Republican, as they did in the 1950’s when the Republicans were still the country club party and the Democrats the party of the working stiffs. Today, Republicans are the party of the upwardly mobile middle-class, and the Democrats are the party of the elite and the government-dependent. Both Barack Obama and Hillary Clinton easily carried a majority of voters earning over $250,000 a year.”
PaulKrugman  Taxation  JohnSteeleGordon 
14 days ago by cbearden
'Generational divide': UK split by age over tax rises for public services | Politics | The Guardian
Cox added that the findings showed that “traditional left-right politics is being flipped on its head, as under-45s back lower taxes and a smaller state, despite overwhelmingly voting Labour in the last election, while Conservative-leaning voters over 65 back higher taxes and spending”.
O_o  uk  taxation  labour  conservatives  youngpeople 
6 weeks ago by libbymiller
The “Tax the Rich” Delusion of the Democratic Left
“America’s federal tax code is already the most progressive in the OECD, even adjusting for income inequality. The Congressional Budget Office reports that the top-earning 20 percent of taxpayers earn 53 percent of the income, yet pay 69 percent of all federal taxes, including 88 percent of all income taxes. The bottom 40 percent of earners earn 14 percent of the income while collectively paying no income tax, and less than 5 percent of all federal taxes. Tax code regressivity is not the problem.”
IncomeTax  Taxation  BruceRiedl 
6 weeks ago by cbearden
T18-0128 - Tax Units with Zero or Negative Income Tax Under Current Law, 2011-2028 | Tax Policy Center
Number and percent of tax units that do not owe a positive amount of individual income tax, as well as those who do not owe a positive amount of individual income or payroll tax, for calendar years 2011 through 2028. Baseline is the law in place for each year as of September 5, 2018. For more information on TPC’s baseline definitions, see:
Taxation  America  IncomeTax 
9 weeks ago by cbearden
Negative Gearing and Welfare: A Quantitative Study for the Australian Housing Market
This paper explores the implications of negative gearing tax associated with housing
investment by conducting a quantitative study of the Australian housing market. We
build a general equilibrium overlapping generations model with incomplete markets
and heterogeneous agents which features income taxes and negative gearing tax that are
consistent with the Australian practice. Comparing across the stationary equilibria with
and without negative gearing tax, we find that removing negative gearing would result
in lower house prices, higher rents and homeownership rate. Improvements in homeownership
rate are observed predominantly among young and middle-aged households
who are relatively poor. The welfare analysis suggests that eliminating negative gearing
would lead to an overall welfare gain of 1.5 percent for the Australian economy in
which 76 percent of households become better off. However, the welfare effects are heterogeneous
across different households. Renters and owner-occupiers are winners, but
landlords, especially young with high earning landlords, lose
rba  finance  realestate  property  investment  taxation 
10 weeks ago by philippe3000

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