Abolish The Corporate Income Tax and Tax The Rich

Thursday, October 28, 2010 \PM\.\Thu\.

Atlantic columnist Megan McArdle makes the case for why abolishing the corporate income tax (and then taxing capital gains and dividends at the same rate as other income) is a proposal that both liberals and conservatives should be able to agree on:

The incidence of “corporate” taxes is not necessarily progressive. The “employer half” of the payroll tax, for example, is thought by most economists to fall pretty much entirely on the worker; corporations compensate for the extra cost by lowering the wages they offer. Taxes on corporate profits are exactly the same for middle class families who have some shares in a 401(k), and multi-millionaire heiresses.

If we get rid of the corporate income tax, we could eliminate the special treatment for dividends and capital gains. Read the rest of this entry »

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Where They Stand: Senate

Thursday, October 28, 2010 \AM\.\Thu\.

With five days until election day, I decided to take a close look at each of the Senate races, and to offer some prognostications about how I think each will end up.

First, the lock-solid holds for each party: Read the rest of this entry »


Of Politics, Bigotry and Stupidity

Thursday, October 28, 2010 \AM\.\Thu\.

A week before the Presidential election in 1884, the Reverend Samuel D. Burchard, a Presbyterian minister, at a Republican gathering denounced the Democrats as the party of “Rum, Romanism and Rebellion”.  James G. Blaine, the Republican candidate, denounced the anti-Catholic remarks three days later, but it was too late and Blaine lost the election.  The memorable phrase helped cement most Catholics as Democrats for a century.

Now the Minnesota Democrat Farmer Labor Party (Minnesota Democrats) are doing their best to help drive Catholics into the arms of the Republican Party with this piece of tripe:

Read the rest of this entry »