The invisible elephant: The payroll tax cut

posted by
December 19, 2010
by David Friedman  
Posted in Commentary

"Most discussions of the tax bill that finally passed treat it as a compromise in which Obama, in order to get the bill through the Senate, had to make it more favorable to rich people than his original proposal. In fact, it may well be the opposite. ... guess is that what actually passed made the tax system, on net, more progressive than what was originally proposed, that high income tax payers will end up paying a larger fraction of federal taxes than they would have if the bill had simply extended the Bush tax cuts for lower and middle income taxpayers." (12/19/10)  


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