12 Myths About Taxing the Rich | Robert Reich

Robert Reich debunks 12 misconceptions about tax policy in America.

Tom Steyer: Why Tax Cuts for the Rich Are So Stupid

Rich Americans know they don't need a tax cut.

Soaking the Rich: Are the Wealthy Fleeing New York City?

Mar. 04, 2014 - 3:37 - Fox News contributor Michael Goodwin weighs in

Australian Tax Office Nets $430m from the Rich

THE SYDNEY MORNING HERALD: Scores of the country's wealthiest people have been caught up in a huge government blitz that has recouped more than $430 million in unpaid taxes and fines last year.

High-profile figures recently caught up in the crackdown include racing identity Sean Buckley, art dealer John Ioannou and entrepreneurs Bob Jane and Geoffrey Edelsten, who together have received bills totalling more than $21 million.

But the Australian Taxation Office investigation has been criticised by some of its wealthy targets, who claim they are being singled out by hardline and activist tactics that are "grossly unfair". Others have blasted the ATO as the financial equivalent of the Gestapo.

The ATO's deputy commissioner, Michael Cranston, said that while most wealthy Australians did the "right thing", the agency's compliance program ensured the country's rich were in fact paying "their fair share".

"If the broader population sees that we make sure that the rich - who can really afford to pay taxes - pay, then it's fairer for them and they are more willing to pay their taxes too," he said. » | Chris Vedelago | Sunday, January 26, 2014

Obama Demands Tax Rises for Rich over Fiscal Cliff

BBC: Newly re-elected President Barack Obama has said the wealthy must pay more taxes under any political settlement to avert a looming budget crisis.

He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.

But in a duelling news conference, Republican House Speaker John Boehner said tax rises would not be acceptable.

Budget analysts warn the US will tip into recession unless a deal is struck.

Mr Obama has repeatedly called for the affluent to pay more, but such a plan is anathema to Republicans.

The fiscal cliff would see the expiry of George W Bush-era tax cuts at the end of 2012, combined with automatic, across-the-board reductions to military and domestic spending. (+ videos) » | Friday, November 09, 2012

Obama Wants to Tax America's Wealthy to Pay for $447 Billion Jobs Plan
THE DAILY TELEGRAPH: Barack Obama is proposing to eliminate some $467 billion in tax cuts for America's wealthy in order to pay for his new job-creation plan.

The White House is framing the debate as a choice between keeping tax cuts for the rich, or jobs for out-of-work Americans.

"In order to invest in jobs and growth, we're going to have to pay for it,'' White House Budget Director Jack Lew told reporters as the US president prepared to submit his $447 billion jobs program to Congress on Monday.

He said the extra $20 billion in cuts were intended to ''build in a cushion'' to make sure the plan is paid for without adding to budget deficits, as Mr Obama has promised. » | Monday, September 12, 2011

France's Richest Say: Tax Us More
BBC: Some of France's wealthiest people have called on the government to tackle its deficit by raising taxes - on the rich.

Sixteen executives, including Europe's richest woman, the L'Oreal [sic] heiress Liliane Bettencourt, offered in an open letter to pay a "special contribution" in a spirit of "solidarity".

Later the government is due to announce tighter fiscal measures as it seeks to reassure markets and curb the deficit.

They are expected to include a special tax on the super-rich.

Before the announcement, expected on Wednesday evening, a letter appeared on the website of the French magazine Le Nouvel Observateur.

It was signed by some of France's most high-profile chief executives, including Christophe de Margerie of oil firm Total, Frederic Oudea of bank Societe Generale, and Air France's Jean-Cyril Spinetta.

They said: "We, the presidents and leaders of industry, businessmen and women, bankers and wealthy citizens would like the richest people to have to pay a 'special contribution'."
They said they had benefited from the French system and that: "When the public finances deficit and the prospects of a worsening state debt threaten the future of France and Europe and when the government is asking everybody for solidarity, it seems necessary for us to contribute." » | Wednesday, August 24, 2011

’Denis Tax-Them-Till-the Pips-Squeak Healey’ Does a U-Turn
THE TELEGRAPH: Gordon Brown is only proposing to raise taxes for the better-paid to appeal to Labour's core voters, a former Labour Chancellor warns today.

In an interview with the Daily Telegraph, Denis Healey says that the new higher rate of tax is likely to have little financial benefit as the wealthy will simply avoid the extra levy.

Mr Healey, 92, was Labour Chancellor during the economic crisis of the 1970s when the top-rate of tax was 83 per cent. Mr Brown has proposed introducing a new 45 percent top-rate of income tax in 2011 to help fund the cost of the cut in Vat.

However, when asked last week whether he believed the tax increase was designed to appeal to Labour's core voters, Mr Healey said: "I think probably so. Because what I learned as Chancellor were that the rich can nearly always find ways of avoiding tax that are legal, and in any case the amount raised is very small. And it does encourage people to leave the country." Gordon Brown Is Using Tax on Wealthy for Purely Political Reasons, Says Denis Healey >>> | Saturday, January 24, 2009

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