Date: 2024-10-19 Page is: DBtxt003.php txt00001257
Politics ... USA
Tax Analysis is what you make it
Hermain Cain's 999 tax proposal is a great line in a speach ... but maybe the system reflects something deeper. Look at the analysis!
COMMENTARY
You absolutely must look at this graph ... even those of you who never look at graphs because you find them confusing. This one is not confusing, but you do have to look at it!
Peter Burgess
9-9-9 in One (Really Long) Graph
Jared Bernstein blogged the following:
In my previous post decrying the extreme redistribution of the tax burden from the wealthy to everyone else, I had to use two graphs to tell the story. I couldn’t fit the increase in tax liabilities for the bottom 80% on the same graph that includes the over $1 million decrease in tax liability for the top 0.1%.But my CBPP colleague Brian Highsmith could. So here you have it: the change in tax liabilities, compared to current tax policy, under 9-9-9, for different income groups, in one incredibly unsettling graph.
About Jared Bernstein
Jared Bernstein joined the Center on Budget and Policy Priorities in May 2011 as a Senior Fellow. From 2009 to 2011, Bernstein was the Chief Economist and Economic Adviser to Vice President Joe Biden, executive director of the White House Task Force on the Middle Class, and a member of President Obama’s economic team.
Bernstein’s areas of expertise include federal and state economic and fiscal policies, income inequality and mobility, trends in employment and earnings, international comparisons, and the analysis of financial and housing markets.
Prior to joining the Obama administration, Bernstein was a senior economist and the director of the Living Standards Program at the Economic Policy Institute in Washington, D.C.
Between 1995 and 1996, he held the post of deputy chief economist at the U.S. Department of Labor.
He is the author and coauthor of numerous books for both popular and academic audiences, including “Crunch: Why Do I Feel So Squeezed?” and nine editions of “The State of Working America.” Bernstein has published extensively in various venues, including The New York Times, Washington Post, Financial Times, and Research in Economics and Statistics. He is an on-air commentator for the cable stations CNBC and MSNBC and hosts jaredbernsteinblog.com.
Bernstein holds a PhD in Social Welfare from Columbia University.