January 12, 2013

TAX RATES AND POLITICAL IGNORANCE: “Why is it that large majorities simultaneously support increasing income taxes on people earning over $250,000 per year, but also believe that they should be taxed at a lower rate than existed even before the recent fiscal cliff deal raised it for individuals earning over $400,000, and families earning over $450,000? As The Hill points out, the most likely explanation is political ignorance. Most people probably don’t know what tax rates are currently in force, especially for people in income classes other than their own.”