What You Need to Know About Taxes
"The Progressive Income Tax" is one of those economic terms that gets bandied about, but few actually know what it means or how it works. This tale of three similar brothers with three different incomes (but one shared expense) helps explain the tax system under which we live. Adapted from an article by noted investor and economist, Kip Hagopian, and narrated by actress Carolyn Hennesy of "General Hospital" and "True Blood" fame, this animated story will change the way you think about how you pay your taxes.
Should Taxes Be Higher? It's the million dollar question! Up? Down? No change? Where in the world should taxes go? In election years, the question of tax rates fills the airwaves. In non-election years, the question of tax rates, again, fills the airwaves. So what's the answer? George Mason University Professor of Economics Tim Groseclose explains his research on the topic. Basically, there's a certain point at which higher tax rates actually reduce the amount of revenue the government collects. What's that point? When are tax rates too high? Learn a valuable lesson in economics, and public policy.
Do the rich pay their fair share of taxes? It's not a simple question. First of all, what do you mean by rich? And how much is fair? What are the rich, whoever they are, paying now? Is there any tax rate that would be unfair? UCLA Professor of Economics, Lee Ohanian, has some fascinating and unexpected answers.
What would happen if there was just one tax rate for most Americans? Would that be fair? Could it even work? Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, explains.
Is the U.S. tax system fair? Are the rich paying too little or too much? What about the middle and lower class? New York Times bestselling author Amity Shlaes answers these questions, and offers a tax solution that most Americans could get on board with.
“Fairness” has become a Progressive obsession. The childhood lament, “it’s not fair!” is now a common refrain among many adults. No political discussion seems complete without someone insisting that the wealthy pay "their fair share.” But what does anybody mean by “fair”? In this video, social commentator Daniel Hannan attempts to answer this critically important question.
Can the government ever be too big? How much spending is enough spending? And if there can be too much spending, where is that point? William Voegeli, Senior Editor of the Claremont Review of Books, explores these complex questions and offers some clear answers.
The rich are getting richer, and the poor are... also getting richer. What's driving this wealth creation process? In this video, Daniel Hannan explains why it is capitalism — and capitalism alone — that has led to the unprecedented enrichment that is the central fact of Western life.
Everyone complains about America's debt, and rightly so, but how do we get out of it? As Cato's Michael Tanner explains, spending on entitlement programs -- Social Security, Medicare and Medicaid -- has exploded in recent decades. We must slow their growth or they will soon swallow the entire federal budget. In five minutes, learn how America can preserve these programs and get out of debt.
What if everything you've heard about income inequality is wrong? What if it's actually a good thing for there to be people who are rich and people who aren't? John Tamny, editor of RealClearMarkets, clarifies one of the big misunderstandings of our time.
Who cares about public pension liability? Well, you should – after all, it’s the reason entire cities and even states are facing bankruptcy. Joshua Rauh, professor of finance at Stanford and Senior Fellow at the Hoover Institution, paints a startling picture of just how broken the public pension system really is, and what will happen if we continue to ignore it.
If you're counting on Social Security to finance your retirement, you're in for a big surprise. Money expert Chris Hogan explains why.