Thursday, April 16, 2009

Tax Info

Does someone know where I can get facts/statistics/etc. on how much taxes will be increased in the next 4 years, who's getting tax cuts, who's getting their taxes raised, etc.? Much appreciated!

5 comments:

conservative generation said...

Try the Congressional Budget Office. Also look through the Heritage Foundation, they have some economists that do conservative research. Taxes are tricky because you have state, local and excises taxes as well. Let me know if that helps or have a specific topic you like to look into, I used to study economics.

Obama Nation said...

Thank you so much! A liberal I went to high school with felt the need to start a debate with me and I need to know the facts =)

conservative generation said...

No problem! If you let me know what your particular questions are, I may be able to give you some more specific help. Taxation's actually a big topic. Beyond just tax amounts there is something call tax incidence, which is who actually pays the tax. For example, corporate taxes are paid primarily by the worker in lower wages. Payroll taxes are supposed to be split between employers and employees, but the employer half is paid by the employee in lower wages.

Obama's budget has only a small change in the progressive tax system system which is a 2% increase on the wealthiest. The biggest tax increase for everyone is actually via cap and trade (basically an energy tax), which Obama admitted would cost the average person $1,300 per year.

If you are interested in Economists, check out Arthur Laffer. He's the economist most famous for supply side Reaganomics.

Good Luck!

Deadman said...

how much taxes will be increased in the next 4 years, who's getting tax cuts, who's getting their taxes raisedA lot, no one except Timothy Geithner and The Obamas, and all of us...

Happy to help...

conservative generation said...

Check out my recent post for an explanation on why government spending is always inefficient.