Targeted tax breaks have a poor track record, providing only 16 cents of economic growth for every dollar awarded.
Instead of raising tax rates on high-income earners, a smarter way for progressives to raise taxes on higher-income earners would be to eliminate itemized deductions: tax breaks that allow primarily upper-middle and upper-income earners to write off various expenses.
Tax Day 2018 always brings out the cries of “Taxation is Theft!” from many, especially our friends in the libertarian contingent. But is it, and where are the lines between taxation is theft, taxation with representation, and oppressive forced funding of tyrannical government?
Not paying taxes for 18 years is not necessarily tax evasion
It’s been well documented that Trump refuses to release his tax information in the run up to the election. But does it really matter?