Monday, April 18, 2011

On Tax Day, some truth about who pays

Tax Day arrived a little bit late this year, as many folks who haven't yet filed their returns probably know. The deadline to file is always a good opportunity to consider who pays taxes and what the money supports. A helpful article on that subject was published in the current edition of The Independent newspaper of Colorado Springs. Written by tax expert David Cay Johnston, the piece sets out convincing evidence for the following assertions:
  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 income taxes at all. 
  5. Since Reagan, only the wealthy have gained significant income. 
  6. Among corporations, the story is much the same — less taxes. 
  7. Some corporate tax breaks destroy jobs. 
  8. The GOP likes taxes, too. 
  9. Other countries do it better.

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