What to Read on Taxes

Nine Things the Rich Don’t Want You to Know About Taxes — David Cay Johnston

  1. Poor Americans do pay taxes.
  2. The wealthiest Americans don’t carry the burden.
  3. In fact, the wealthy are paying less taxes.
  4. Many of the very richest pay no current income taxes at all.
  5. And (surprise!) since Reagan, only the wealthy have gained significant income.
  6. When it comes to corporations, the story is much the same — less taxes.
  7. Some corporate tax breaks destroy jobs.
  8. Republicans like taxes too.
  9. Other countries do it better.

Top Ten Tax Charts — Center on Budget and Priority Policies

  1. The United States is a low-tax country.
  2. Federal income taxes on average families are historically low.
  3. Corporate tax revenues are historically low.
  4. Effective tax rates on wealthiest people have fallen dramatically.
  5. Bush tax cuts heavily tilted to the top.
  6. Rise in debt could be halted over next decade by letting Bush tax cuts expire.
  7. Tax expenditures are substantial.
  8. Income gains at the top dwarfed those of low- and middle-income households.
  9. Top 1 percent’s share of total after-tax income has more than doubled over the past thirty years.
  10. Most of budget goes toward defense, Social Security, and major health programs.