Berman, Jillian. "Obama Budget Plan Results in 'Back Door' Tax Increase for Middle-Class Households: Analysis." The Huffington Post, 22 Apr. 2013. Web. 3 Mar. 2014. <http://www.huffingtonpost.com/2013/04/22/obama-budget-tax-increase_n_3133755.html>.
This article explains president Obama’s plans for taxes in the near future. The author, Jillian Berman, quotes Joseph Rosenberg many times and uses his ideas to build her article. The article talks about the expected increase of taxes in the coming years. She also explains a little about what tax brackets are and connects them to her article. This article is sounds a little biased because it sounds like the author talks about this bill in a negative way. But, the article has many facts about the Obama’s plans that I could incorporate into my research. The author gives some numbers on what people can expect for tax increases. This article parallels my research and will give my project some solid background and extra information.
News Article 2
Sloan, Steven. "Taxes: President Obama's Budget Would Hit Middle Class." POLITICO, 23 Apr. 2013. Web. 03 Mar. 2014. <http://www.politico.com/story/2013/04/obama-budget-middle-class-facing-tax-hikes-90469.html>.
The article “Taxes: President Obama’s budget would hit middle class” by Steven Sloan talks about the new tax bill Obama is pushing for 2015. It says that Obama has always targeted the rich for higher taxes, but now is beginning to target the middle class. The new bill takes away past deductions and changes the way taxes are calculated. The article gives some statistics about the income earned compared to taxes paid by an individual. This article is credible because it has many quoted material from other articles and it sounds as if it has little bias. At first, the author talks a little about Obama’s tax hikes on the rich, but then talks about the tax hikes on the middle class too. He explores both sides of the tax argument making his viewpoint seem less and less bias. This information will backup my other research very well. It will add to my project and give it some more strength because of the statistics and quotes the author utilizes.
Scholarly Article 1
Ellwood, David T., and Jeffrey B. Liebman. "The Middle-Class Parent Penalty: Child Benefits in the U.S. Tax Code." Nber.org. N.p., Jan. 2001. Web. 3 Mar. 2014. <http://www.nber.org/chapters/c10853.pdf>.
“The Middle-Class Parent Penalty: Child Benefits In the U.S. Tax Code” by David T. Ellwood and Jeffrey B. Liebman explains the benefits of the Earned Income Tax Credit. The paper talks about the rich and poor benefiting more from the Earned Income Tax Credit than the middle class. The rich and poor also get more tax deductions for having children while the middle class get very little tax deductions. This paper is very credible because both of the authors are graduates of Harvard University. The paper does not sound bias and the authors quote articles and statistics. The statistics would benefit my project because people always react to numbers and percentages. The paper also explains some types of tax deductions that I could add into my research.
Scholarly Article 2
Bargain, Olivier. "Tax Policy and Income Inequality in the US." Econstar.eu. Econstar, 16 Dec. 2013. Web. 3 Mar. 2014. <https://www.econstor.eu/dspace/bitstream/10419/90145/1/77640329X.pdf>.
This paper asses the effects of taxes on the inequality of the middle class, rich, and poor. It goes into more detail about certain tax laws that create inequality between the classes. The paper does not only talk about unfair tax laws, but the distribution of wealth in the U.S. The rich are getting richer while the middle class and poor are losing out because of higher taxes and inflation, but the same income. This paper is reliable for the most part because it, once again, quotes other material and has statistics. It also has many authors so there is little bias in the paper. This paper would contribute to a lot to my research because it brings in the problem with the distribution of wealth along with tax inequality.
Scholarly Article 3
Zolt, Eric M. "Inequality in America: Challenges for Tax and Spending Policies." By Eric M. Zolt. Social Science Research Network, 27 Jan. 2014. Web. 03 Mar. 2014. <http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2386285>.
This paper talks about the increasing inequality of tax rates in the U.S. over the past 30 years. The problem has been getting even worse because of higher relative tax rates, relative tax rates relate the income earned to the amount paid in taxes. This paper also brings in an aspect not talked about in any of my other research, the problems with government spending, where our tax dollars actually go. Against what many people may believe, the government spends more on tax money on the elderly than on the poorest Americans. This is a shocking fact and makes this paper more interesting, putting facts like this into my project will make people more interested. The paper is reliable because the author is a graduate of the University of California, Los Angeles and has a degree in law. It is also a very recent paper on the issue. The information presented will add the problem with government spending to my project. The shocking statistics and facts this paper has will intrigue readers of my capstone.
Link to PowerPoint
https://drive.google.com/file/d/0B3YlgF1nQgSvSGQ4UElFTnZiem8/edit?usp=sharing
Interesting and Shocking Quotations
“President Obama’s budget proposal, released earlier this month, includes a provision that would steadily boost taxes for middle-class households over the next 10 years”(Berman).
“Americans will have to pay more in taxes before their money is worth more”(Berman).
“The president keeps breaking his campaign pledge to not tax the middle class — first with his health care law and now with these tax hikes in his budget”(Sloan).
“the Buffett rule imposing a minimum 30 percent tax rate on income exceeding $1 million”(Sloan).
“Marginal tax rates (including payroll taxes) for two-parent families can reach 50 percent or more among families with incomes near $30,000”(Ellwood).
“Government spending on social programs has increased substantially”(Zolt).
“larger percentage of social spending has been directed to the elderly (without regard to need) and to the upper-half of the income distribution through tax subsidies for healthcare, education, housing, and retirement savings”(Zolt).
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