As the nearby chart shows, the wealthy’s tax burden is considerably larger than their share of the nation’s income. High-income taxpayers earned 28 percent of total adjusted gross (AGI) income in 2014 while paying 55 percent of the entire income tax burden. By contrast, the remaining 145 million taxpayers command 72 percent of the nation’s income, but paid a combined total of 45 percent of all income taxes.
Source: Tax Foundation
Friday, February 5, 2016
From Tax Foundation, "New IRS Data: Wealthy Paid 55 Percent of Income Taxes in 2014" by Scott A. Hodge:
Posted 2/05/2016 01:11:00 PM
29 Percent Of Obese Adults, 16 Percent Of Severely Obese, Are Metabolically Healthy: 30 Percent Of Normal-Weight Americans Are Metabolically Unhealthy
From National Institutes of Health, US National Library of Medicine, "'Obese' May Not Always Equal Unhealthy: Study: Authors warn against using body size as sole measure of good health, but other experts cite risks of too much weight:"
Using a government health survey, researchers found that nearly half of overweight U.S. adults were "metabolically healthy."
That meant they had no more than one risk factor for type 2 diabetes and heart disease -- including high blood pressure, unhealthy cholesterol or triglyceride levels, elevated blood sugar, or high concentrations of C-reactive protein (a marker of inflammation in the blood vessels).
Among obese adults, 29 percent were deemed healthy -- as were 16 percent of those who were severely obese based on body mass index (BMI, a ratio of weight to height).
On the other hand, more than 30 percent of normal-weight Americans were metabolically unhealthy.
Posted 2/05/2016 12:24:00 PM
Politicians Protect Their Big Business Donors From Competition Through Regulations That Create Barriers To Entry Under The Guise Of Protecting The Public
From The Wall Street Journal, Opinion, "Hillary’s Wall Street Reckoning: Clinton struggles to explain why Goldman paid her $675,000:"
The long-standing arrangement between Democrats and financial giants like Goldman is that the politicians collect money and get to pose as populists by publicly attacking the big banks, and in return the big banks enjoy high regulatory barriers that prevent smaller firms from competing with them. New York Sen. Chuck Schumer has perfected this bargain, which may have reached its zenith with the Dodd-Frank law of 2010, which brought Wall Street giants and Washington into a historically intimate embrace.
Yes, Wall Streeters love to complain about Dodd-Frank, but they also know it virtually ensures that no upstart finance company in the Midwest is going to challenge Goldman’s position in global finance. "More intense regulatory and technology requirements have raised the barriers to entry higher than at any other time in modern history," said Goldman CEO Lloyd Blankfein last year. "This is an expensive business to be in, if you don’t have the market share in scale."
***But according to the Center for Responsive Politics, which maintains a searchable database of contributions reported to the Federal Election Commission, the securities and investment industry is Mrs. Clinton’s single greatest source of support. Financiers have given her campaign and other pro-Clinton political operations more than $17 million, compared with a little less than $78,000 for Mr. Sanders.
Posted 2/05/2016 12:06:00 PM