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To: SeekAndFind

Part of the widening is due to a basis change in 1986. After the Tax Reform Act of ‘86, the figures include many S-corps filing individual returns. Also since then muni income has had to be reported - even if not taxable.

People like John Kerry (who holds hundreds of millions in munis) can really distort the figures.

Comparing pre and post ‘86 tax return data is bogus.


13 posted on 03/29/2013 6:18:44 AM PDT by Vide
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To: Vide
Comparing pre and post ‘86 tax return data is bogus.

So is suggesting that all kinds of income are included in that taxable income that the IRS works with. 

Another thing that's bogus is not saying if it's total income for the growing population or if it's per capita income.  The big part of the lie is seen when we look at total incomes from from the BEA --here's the after tax real income per person both taxable and not:

The goofy article says total real incomes were flat since the mid '90's.  It's not true --they're up 30%-- and my guess is if he doesn't know he's posting a lie then he should know it.  Regardless, reality is that after tax income per person adjusted for inflation was growing steadily until the policy changes after the '06 & '08 elections.

18 posted on 03/29/2013 7:01:23 AM PDT by expat_panama
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