I began to realize that the business leaders of all those financial institutions totally failed to understand how this nation was changing, failed to predict the election, failed to understand the social forces that were changing since the past four years.
“Close to half of U.S. households currently do not owe federal income tax.” How accurate is this statement? This statement is cited as evidence, typically by Republicans, that lower income families do not pay their fair share of income taxes. This viewpoint is flawed because it specifies income tax. There are other forms of taxation. Let us list them one by one and see who pays and at what rate. Income Tax The recession of 2008 and beyond has vastly…
