That last item is an important point to make, as the Charles Sykes and Scott Walkers of the world conveniently leave out that higher-income people are much more likely to itemize their taxes on their federal return, which allows them to get back some of their state and local taxes. I've never had any reason to itemize, and have taken the standard deduction in my previous tax years because it was the bigger deduction, and I bet many of you do the same. But you can bet Charlie and Scotty don't, the WMC types that back them don't, and they're counting that the dopes who listen to them don't know that. It's a lot like how national angry-man radio hosts leave out that the "overtaxed" rich pay a much lower % of their income on Social Security and Medicare taxes due to the income cap (by comparison, we pay the full 7.65%)From Jake's Economic TA Funhouse. Read the rest.
The state reoport also shows that from a pure % of income standpoint, it's doubly stupid for the WMC crowd to be against higher sales taxes to pay for transit and parks, as opposed to either increased property taxes or cuts that hinder people's ability to take advantage of these needed public goods. Unless you have NPD and think government exists solely for you and your needs, of course.
Monday, November 23, 2009
Um, About Those Taxes
What! Sykes And Walker would lie to people? Color me shocked!