Tuesday, April 17, 2012

Some Colorful Facts about the US Federal Tax Situation

I highly recommend this colorful set of charts about the Federal tax system. The collection was compiled by Derek Thompson, a senior editor at The Atlantic.

Neither the Democrats nor the Republicans make any sense when it comes to tax reform, which in my view is absolutely essential.  Just letting the Bush tax cuts expire would help a lot with the deficit but we would still have a nightmare of a tax code.  Some thoughtful ideas about how to untangle the mess are set out in Simon Johnson and James Kwak's new book White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You.

I have to sign off now and get to the post office with my love letter to the IRS.

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