Downsizing Blog
Higher Incomes, Higher Tax Rates
An article in the New York Times the other day was titled “The Rich Really Do Pay Lower Taxes Than You,” and one in Bloomberg was subtitled “The Wealthiest 400 Americans Have the Lowest Rates.” It is not true.
Soak‐the‐Rich Taxes Would Morph into Middle‐Class Flood
In the New York Times, David Leonhardt cheerleads for a new plan by left-wing economists Emmanuel Saez and Gabriel Zucman to raise taxes on the rich by $750 billion a year.
Virginia Is for Corruption
A recent corruption story in rural Virginia is rather stunning. The state is usually thought to have relatively clean government, but a Washington Post investigation by Antonio Olivo reveals something far different.
Capital Gains Taxes: Already Too High
Democrats are proposing to raise capital gains taxes.
Presidential Spending Update
Federal spending is rising and the government’s debt is growing by a trillion dollars a year.
Minding Money by Migrating
Americans are moving from higher-tax states to lower-tax states.
Federal Spending Tops $5 Trillion
The Congressional Budget Office and the Office of Management and Budget both project that federal government spending will be about $4.6 trillion in fiscal year 2020.
Amtrak Accounting Tricks Cover Up Losses
Amtrak recently announced that it will begin operating nonstop service between New York and Washington in 2 hours and 35 minutes in September.
How the Government Creates Wealth Inequality
There are economic storm clouds on the horizon, but for now wages are rising, jobs are plentiful, and poverty is falling.
New York Times on Opportunity Zones
The Tax Cuts and Jobs Act of 2017 included capital gains tax cuts on investments in chosen areas called “opportunity zones.”