Thursday, November 13, 2008
If you don't get taxed, but do get a tax rebate, what is that called?
"...and I'll add another improbable idea for Democrats: It is time to begin taxing –- if only by a few dollars -- the millions of lower earners who pay no tax or get money back. This largely symbolic step would allow citizens to reestablish their connection with the federal government ... Today, America looks more like the 1930s: a small huddle of the wealthy shoulder an ever-greater share of the tax bill. In 2005, the top 1 percent of earners paid about 40 percent of the taxes. Those earners are so few that there is little political downside to targeting them. But the economic downside is huge."