Tuesday, December 13, 2011

Ideal Tax Law from the Political Right

Here is a post by Paul Krugman on his NY Times blog that captures the intent of the political right to makes sure that the middle class carries the burden of taxation:
Gingrich-Helmsley 2012

From the Tax Policy Center, the Gingrich tax plan:

Click to Enlarge

Also, it would add $1.3 trillion to the annual deficit compared with current law.

For those too young to remember, Leona Helmsley famously declared that only the little people pay taxes.
So much for the theory of progressive taxation, i.e. those who are able, pay more while the poor are given a break.

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