Tax Myths

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Increasing Tax Rates Does Not Necessarily Lead to Higher Income Tax Receipts

http://www.heritage.org/federalbudget/income-tax-receipts?utm_medium=newsletter&utm_campaign=budgetsense

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A liberal article of faith that confiscatory taxes fed the postwar [1950s] boom turns out to be an Edsel of an economic idea.

http://online.wsj.com/article/SB10001424127887324705104578151601554982808.html?mod=WSJ_Opinion_LEADTop

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Class Warfare Tax Policy: Myth And Reality

http://thf_media.s3.amazonaws.com/1997/pdf/bg1131.pdf

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… by doubling the tax rate of the top 1% of income earners the additional income realized by the government… would [be] less than 26% of the annual deficit…

http://www.americanthinker.com/2012/12/there_is_no_party_of_principle.html

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The Effect of Fairness on Tax Revenues

There have been, since the implementation of the income tax, four major tax rate reductions.  Every one of them has been followed by increased tax revenues.

http://www.americanthinker.com/2012/10/the_effect_of_fairness_on_tax_revenues.html

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This group of [U.S.] income earners earned this shared of all income and paid this share of federal income taxes [2009].

http://www.heritage.org/federalbudget/top10-percent-income-earners

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… the number of those filing tax returns who pay no income taxes now… amount[s] to a staggering 41% of all tax returns.  Compare that with 1990, when only about 21% of tax returns were found to have no tax liability.

http://news.investors.com/articleprint/619029/201207201838/increase-in-nonpayers-of-taxes-spells-trouble.aspx

[ASND reminds readers that those 41% of U.S. citizens who pay no income taxes at all are not the so-called “ 1% ”   rich .]

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Below are a series of statements reflecting popular conceptions and misconceptions about the impact of tax rates on economic productivity and fairness. We’ll address these statements (and debunk attendant myths) one at a time.

http://www.manhattan-institute.org/html/ir_22.htm

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Coddling Misinformation About Taxation

http://www.americanthinker.com/2011/09/coddling_misinformation_about_taxation.html

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[U.S. Income] Tax Code Became More Progressive after the Bush Tax Cuts

http://www.ncpa.org/pdfs/ba606.pdf

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” [Warren] Buffett’s [tax rate] assertion [in support of Obama’s tax policy preferences] is a gross and deliberate misrepresentation of the facts and simply cannot go unchallenged.”

http://www.americanthinker.com/2012/01/buffetts_bunk.html

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Nearly Half of Americans Don’t Pay Income Taxes

http://blog.heritage.org/wp-content/uploads/CDA-2012-index-dependence-govt-chart-1_732.jpg

[That’s right, and thinking people (i.e. liberals) know who thosehalf of Americansare too — the  RICH !]

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The Buffett Rule won’t do much for deficit reduction.

Would raise less than $5 billion in taxes a year

http://finance.yahoo.com/news/buffett-rule-raise-less-5-004300332.html

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California’s model of government-led prosperity, aided by the nation’s best weather, appears to be in serious jeopardy.  Texas’s model of freeing jobs creators to do what they do best through low taxes, less regulation, and a better lawsuit climate is looking stronger by the month.

http://www.nationalreview.com/blogs/print/295422

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The[se study] results show that high-income taxpayers would have reported 7.8 percent more taxable income in 1993 than they did if their tax rates had not increased.

http://www.nber.org/chapters/c10900.pdf

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In response to a tax increase [on high income earners] , reported income would be shifted to new categories, investment portfolios would shift to tax-favored assets, and consumption towards tax-deductible items…  This may reduce reported income inequality, but could actually lead to less revenue (depending on the tax rate), and would almost certainly do little to change substantive wealth disparities across households.”

http://economics21.org/commentary/paradox-taxing-rich

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