TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Tuesday, August 23, 2011

The Tax Lawyer Publishes New Issue

Tax Lawyer The Tax Lawyer has published Vol. 64, No. 2 (Winter 2011):

ABA Tax Section, Scholarship, Tax | Permalink

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This assumes that spending would not have risen had the wealthy been paying tax at higher rates. I do not think that is a safe assumption. Even now, it is damn near impossible to get Congress to stop spending as our economy spirals downward.

All other means of balancing the budget should be pursued before raising taxes, and that includes other means of revenue generation, such as asset sales.

Posted by: Matthew | Aug 23, 2011 1:53:56 PM

Using pre 1987 tax data make your comparisions meanless. Prior to 87, most high income individuals could and did shelter a significant portion of their taxable income.

You are engaging in class warfare.

Compare what top 5% pays in US verses major developed countries. Clear in US the upper middle class in under taxed. Middle class and upper lower cass pays too litle.

As to how, reduce ordinary income tax rates and increase capital gains rates (i., e., like 87 act). Major tax break for rich capital gains. Then go after private foundations, taxing them as corporations and elilminating both estate and income tax deduction for gifts for private foundations.

Posted by: michael moran | Aug 23, 2011 4:53:58 PM