So, there was a big to-do a couple of weeks back concerning the McCain campaign’s decision to kick Joe Klein off the campaign plane–presumably, because Klein has written not-so-flattering coverage of the campaign. Needless to say, this brought all sorts of scorn from the other side of the partisan divide. Wonder what the scornful will make of this: The Obama campaign has decided to... 

The Internal Revenue Service recently released official data on the payment of income taxes by different income groups, compiled from an intensive study of individual income tax returns from 2006, the latest year available. The results are shocking given the political rhetoric we hear from liberal Democrats regarding supposed Republican “tax cuts for the rich” and the need for “the rich to pay... 

This drop in overall federal tax burdens has been driven by a pronounced decline in income-tax burdens.  ·         The Center estimates that the median-income family of four will pay only 5.6 percent of its income in federal income taxes in 2006, roughly the same as in 2003, 2004, and 2005.  These “effective tax rates” represent the lowest levels on record, with data going back to... 

Why does debate over the effects of income tax cuts on revenues and the budget deficit never end? Do we not have ample empirical data that demonstrates that lowered taxes produce “more” revenue, not less, by stimulating economic activity?  Read More →