Tuesday, August 16, 2011

Stop Coddling the Super-Rich

By now you've probably seen this in other places but Warren Buffet's article in the Sunday New York Times, Stop Coddling the Super-Rich was quite good. You can pick just about any paragraph to quote, here's the one I'll take:

"Since 1992, the I.R.S. has compiled data from the returns of the 400 Americans reporting the largest income. In 1992, the top 400 had aggregate taxable income of $16.9 billion and paid federal taxes of 29.2 percent on that sum. In 2008, the aggregate income of the highest 400 had soared to $90.9 billion — a staggering $227.4 million on average — but the rate paid had fallen to 21.5 percent."

On Sunday the Times also published A Businessman in Congress Helps His District and Himself. A long article on Rep Darrell Issa (R-CA) and his financial and lawmaking conflicts of interest.

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