Wednesday, May 11, 2005
Joe Kristan of Roth & Company has an interesting post, based on a post (followed up here) by Zimran Ahmed of Winterspeak, on a recent New York Times article (What Should a Reconfigured Tax System Look Like?) about the forthcoming book Toward Fundamental Tax Reform (edited by Alan J. Auerbach & Kevin A. Hassett). The book contains this chart showing 2004 marginal tax rates for family income from $0 to $400,000:
The NY Times version, however, omits the data from the lowest income levels which highlight the progressive effect of the Earned Income Tax Credit:
Kristan notes: "It's easy to assume that the Times just didn't want to emphasize how progressive the system is at the lowest income levels....While there may be an explanation other than political leanings for the way the chart was edited, bias does seem to fit the data."
For further blogosphere coverage, see Marginal Revolution (here and here).