Taxing the Rich

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Do the Rich Pay Their Fair Share in Taxes?

… the top 1 percent [of U.S. income earners] alone paid over 22 percent of all federal taxes, while earning [only] 13 percent of the income.  And the top 20 percent of earners paid nearly 70 percent of all federal taxes, while earning [only] 50 percent of the income.

http://www.ncpa.org/pdfs/ba770.pdf

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The top 1% of income earnes in the U.S. pay TWENTY TIMES their “fair” share of federal income taxes.

http://cbo.gov/sites/default/files/cbofiles/attachments/43373-06-11-HouseholdIncomeandFedTaxes.pdf

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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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“… the relationship between tax rates and economic activity, even though it has superficial appeal, is not supported by the evidence.

http://www.american.com/archive/2011/august/obamasfollytaxingtherich

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… after the [Bush] tax cuts, the rich overall wound up paying a larger dollar amount in income taxes.  That’s mainly because the incomes of the wealthy kept climbing.  The top quintile paid 15 percent more in taxes but made 30 percent more money in 2006 than in 1996…

http://www.reuters.com/subjects/income-inequality/washington

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Obama’s Folly: Why Taxing the Rich Is No Solution

http://www.american.com/archive/2011/august/obamasfollytaxingtherich

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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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How Taxing the Rich Harms the Middle Class

http://www.american.com/archive/2012/february/how-taxing-the-rich-harms-the-middle-class

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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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Warren Buffett’s Taxing the Rich Won’t Solve Deficit, Says Tax Foundation

http://www.cnsnews.com/news/article/warren-buffett-s-tax-solution-won-t-solv

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FACT CHECK: Are rich taxed less than secretaries?

http://news.yahoo.com/fact-check-rich-taxed-less-secretaries-070642868.html

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The Millionaire Tax: Yet Another Job-Killing Tax Hike

http://thf_media.s3.amazonaws.com/2011/pdf/wm3389.pdf

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President Obama’s tax plan will hurt the very people he’s trying to help.

http://www.christianitytoday.com/ct/article_print.html?id=83327

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California’s high-income taxpayers dropped sharply

http://blogs.sacbee.com/capitolalertlatest/2012/02/californias-high-income-taxpayers-have-dropped-sharply.html?utm_source=dlvr.it&utm_medium=twitter#mi_rss=Latest%20News

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Manning saved millions in taxes by opting for Denver over SF

http://blogs.sacbee.com/capitolalertlatest/2012/03/manning-saved-millions-in-taxes-by-opting-for-denver-over-sf.html

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Capital Gains Taxes:

… every time the capital gains tax has been cut, capital gains tax revenues have risen.

http://www.adamsmith.org/sites/default/files/resources/capital-gains-tax.pdf

and…

Advantages of Low Capital Gains Tax Rates

http://www.cato.org/sites/cato.org/files/pubs/pdf/tbb-066.pdf

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The Increasing Progressivity of U.S. Taxes: And the Shrinking Tax Base

… average individual income tax rates fell most dramatically for the bottom 80 percent of taxpayers from 1979 to 2007, with the bottom 40 percent now receiving more in refundable tax credits than is paid in taxes.

http://www.cato.org/publications/congressional-testimony/increasing-progressivity-us-taxes-shrinking-tax-base

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THE DANGERS OF RAISING TAXES ON INVESTMENT INCOME

http://www.manhattan-institute.org/pdf/ir_5.pdf

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“... [tax] policies aimed at making America more equal by targeting ‘the rich’ are likely to be ineffective, not only because they are aiming at a moving target, but also because so many of these common traits stand outside the bounds of tax policy.

http://taxfoundation.org/article/who-are-americas-millionaires

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In Maryland, Higher Taxes Chase Out Rich: Study

http://www.cnbc.com/id/48120446

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Illinois Tax Hikes, Two Years Later: A Failure

http://pjmedia.com/blog/illinois-tax-hikes-two-years-later-a-failure/?print=1

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Obama’s Latest Soak-the-Rich Scheme

http://frontpagemag.com/2012/jlaksin/obamas-latest-soak-the-rich-scheme/print/

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France’s proposed tax hikes spark ‘exodus’ of wealthy

http://www.telegraph.co.uk/news/worldnews/europe/france/9404209/Frances-proposed-tax-hikes-spark-exodus-of-wealthy.html

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Clearly, the post-2001 fiscal deterioration had comparatively little to do with the 2001/03 tax cuts.

http://www.economics21.org/commentary/how-did-federal-surpluses-become-huge-deficits

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Tax Exodus: 5 States That Residents Are Fleeing

http://www.thefiscaltimes.com/Articles/2012/11/28/Tax-Exodus-5-States-That-Residents-Are-Fleeing.aspx#page1

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