Let's Talk About Taxes
By Alicia McBride on 10/22/2012 @ 09:30 AM
Have you noticed how often taxes have come up in the presidential debates? It’s not surprising, and even before Inauguration Day, our elected leaders will be making major decisions about government revenues. And FCNL’s latest Washington Newsletter is here to help you join the conversation.
Articles in this newsletter not only look at the options Congress is weighing on the so-called “Bush tax cuts,” which expire on December 31, but put this debate in the larger context. How much do we pay in taxes? Does everyone pay according to their ability? What role do tax rates play in stimulating a healthy economy?
The image that has stuck with me as I’ve edited this newsletter, however, is this chart showing the groups that have benefited most from the Bush tax cuts. I’ve heard many people talk about how these tax cuts have contributed to income inequality, but this chart puts it in perspective.
I hope that you will join FCNL in lobbying Congress not to renew these tax cuts to help provide our nation with the revenues it needs—or at the very least only to renew the tax cuts on family incomes up to $250,000. And I hope that this newsletter helps you participate in the debate that’s brewing over tax policy as this session of Congress winds to a close.