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Cialis online discount coupons are valid through October 5, 2018. For the first time since 1960s, top income tax rate in the United States is not a high percentage of one's income. Rather, it is on a full percentage of taxable earnings, meaning that the tax rate increases as size of one's total income increases. According to a report issued Friday by the Center on Budget and Policy Priorities, an anti-poverty group, the federal top marginal income tax rate was 37 percent in 2010, up from 29 percent in 1970.[1] The top rate does rise if a household has many children, as is the case of households headed by a single taxpayer whose taxable income exceeds $200,000.[2] According to the New York Times, policy change means that "the current 35 percent top tax rate will drop to a record low of 28 percent on incomes between $400,000 and $450,000 for single taxpayers, 29 percent couples who make more than $450,000." This represents a significant reduction in the share income paid by wealthy in recent years. For example, since 1974, the number of households earning more than a million dollars year, or more than $1 million dollars a year for joint filers, has dropped by 43 percent and households earning over $10 million a year, or more than $10 million, have dropped by 20 percent. As a result of lower tax rates, the top 1 percent of income earners in 2011 took 15 percent of all income.[3] The new policy change is result of bipartisan efforts to increase taxes on the wealthiest Americans. In aftermath of the Great Recession, tax rate increases were proposed by President Obama in 2009, and the American Taxpayer Relief Act of 2012 increased top marginal taxes to 39.6 percent in the 2012 tax year. However, policy change in 2011 effectively repealed that top tax rate. In an effort to increase tax transparency and curb avoidance schemes, the IRS also has increased enforcement and auditing capabilities, but the revenue collected from taxes on the highest incomes still comes disproportionately from the top 1 percent.[4] Budget and Policy Priorities, in its report, states, "The current top marginal rate is too low for the federal tax system to be an engine of growth canada drug pharmacy free shipping and a force for fairness."[5] Budget and Policy Priorities has published a new report, "Income-Tax Reform," that examines how tax reform will "effectively lower top rates for higher-income households—lowering the rate on all tax filers by a full percentage point and lowering the effective rate paid by average high-income family $6,400."[6] President Obama has also proposed a number of tax reforms since taking office, including broadening the Earned Income Tax Credit (EITC), which has historically benefited families with children, such as single parents who are in the workforce. Obama's proposal is to add an annual credit of $400 per full-time "childless worker" to an existing credit, known as the Child Tax Credit, and expand the Earned Income Tax Credit.[7] The report states that "These initiatives could raise $450 billion over 10 years, with a total additional $1.4 trillion in economic growth stemming from these measures alone."[8] We've just returned from a conference in Paris, which many young people, people from countries who have joined the Occupy movement, presented ideas that they have for how to end the political and economic crisis that they perceive is coming. One of them, a young person from Argentina, suggested the introduction of a new kind currency: credit. How to bring about a new kind of currency is a central question that the young generation faces, but we didn't have the time to discuss in depth the idea this young person had.

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