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Friday, September 23, 2011

Krugman on class warfare


“The budget office's numbers show that the federal tax burden has fallen for all income classes …But that burden has fallen much more, as a percentage of income, for the wealthy. Partly this reflects big cuts in top income tax rates, but, beyond that, there has been a major shift of taxation away from wealth and toward work: Tax rates on corporate profits, capital gains and dividends have all fallen, while the payroll tax - the main tax paid by most workers - has gone up.”

What are your thoughts? Who is waging war against whom?

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