-Submitted by David Drumm (Nal), Guest Blogger
The Wall Street Journal is doing its part. In an article meant to show the futility of taxing the wealthy to close the deficit, the WSJ instead lies with numbers. The WSJ article purports to show that the bulk of taxable income lies with the middle class and without entitlement cuts along the lines of the Paul Ryan model, soaking the middle class is the only option available. They show a graph supposedly depicting that the bulk taxable income lies with the middle class. The graph in question is displayed full size below the fold.
The graph made the usual rounds among the protect-the-wealthy blogs. Surprisingly, it was the pro-business Tax Foundation, in its Tax Policy Blog, that debunked the WSJ graph. Unsurprisingly, the debunking post that embarrassed the WSJ was pulled by the Tax Foundation. But the memory hole isn’t what it used to be, the debunking post can be found here.
Continue reading “Protecting the Wealthy – By Deception” →