Taxing the Rich

Taxing the Rich

Taxing the Rich Federal income tax was first implemented in 1862 as a temporary measure to pay for the costs of the Civil War [1].  It was a marginal tax rate that peaked at 5 percent of income.  The tax was repealed in 1872.  In 1894, another federal income tax was levied, but it was … Continue reading Taxing the Rich

Advertisements

A Neat Logical Symmetry

I found something recently that I thought was pretty neat. Let "true" be represented by a 1 and "false" be represented by a 0.  Consider two logical claims A and B.  The truth tables for "A and B" and "A or B" are as follows: But what if we represent "true" by 0 and "false" … Continue reading A Neat Logical Symmetry

Unintended Consequences of Tax Proposals

People like money, they like getting more money, and they like keeping the money they get.  This fundamental fact explains much of the behavior in our economy, and drives the Law of Supply and Demand [1].  In this post, we will discuss the ramifications of several new tax proposals with these fundamentals in mind. Elizabeth … Continue reading Unintended Consequences of Tax Proposals