Weekly Audit: The Shocking Truth About Taxes

 

By Lindsay Beyerstein, Media Consortium blogger

The super rich are different from you and me. For one thing, their tax rates are lower.

According to IRS statistics, the nation’s top 400 taxpayers increased their average income by 392% and slashed their average tax rate by 37% between 1992 and 2007, Dave Gilson reports inMother Jones. Furthermore, when you factor in payroll taxes, the tax rate for Americans earning $370,000 is nearly equal to the rate for those making between $43,000 and $69,000 a year.

Meanwhile, at TAPPED, Jamelle Bouie notes that, in 2007, more than 10,000 Americans reported incomes of $200,000 or higher and paid no income tax at all. These lucky ducks are known to the IRS as HINTs, which stands for High Income, No Taxes.

Pseudo-farms of the rich and tax-dodging

The ultra-rich are using deluxe hobby farms to dodge millions of dollars in taxes, Yasha Levine reports for The Nation:

Take Michael Dell, founder of Dell Computers and the second-richest Texan, who qualified for an agricultural property tax break on his sprawling 1,757-acre residential ranch in suburban Austin and saved over $1 million simply because his family and friends sometimes use the land as a private hunting preserve to shoot deer. Or take billionaire publisher Steve Forbes, who got more than a 90 percent property tax reduction on hundreds of acres of his multimillion-dollar estate in upscale Bedminister, New Jersey, just by putting a couple of cows out to pasture.

Agricultural tax breaks were originally designed to help farmers stay on their land as suburban sprawl grew up around them. As neighborhoods shifted from rural to residential in the 1950s and ’60s, farmers struggled to keep up with rising local taxes.

So, who’s a farmer for tax purposes? Levine reports that the standards are ridiculously low in many states, like New Jersey, where a yard full of weeds can qualify as a farm.

Worst of all, tax breaks for faux farms are depriving public schools of billions of dollars of desperately needed revenue. In Texas–which loses over a billion dollars a year in property taxes from pseudo-ranches of the rich and famous–hundreds of public school students are taking to the streets to protest massive proposed layoffs of teachers and support staffers, Abby Rapoport reports in the Texas Observer.

Tax me, I’m rich

A group of self-proclaimed “trust fund babies” is demanding higher taxes, Pete Redington reports for Working In These Times:

Resource Generation recently teamed up with another nonprofit that organizes affluent activists, Wealth for the Common Good, to form a Progressive Tax Campaign. They will be organizing and advocating a change in the policy, laws and perceptions of our tax system. Specifically, the campaign aims to draw attention to the social services that taxing the wealthy could fund, and advocates higher tax bracket rates for top income earners, as well as higher taxes on investment income.

Major debt

Student loan debt is likely to reach $1 trillion this year, outpacing credit card debt for the second year in a row, Julie Margetta Morgan reports for Campus Progress. Student loans can be a smart investment if they lead to a lifetime of higher earnings. However, Margetta Morgan notes, the average bachelor’s degree holder will shell out $250 a month for a decade to pay back the loan.

Many Americans won’t pay off their debt until their own children are in college. President Obama was still making payments into his late 40s.

As college tuition continues to rise, we can expect students to borrow even more for their education in years to come. Much of this debt is guaranteed by the taxpayer. Margetta Morgan argues that colleges should be doing more to educate students about smart borrowing.

The economics of happiness

Kristy Leissle reviews the new documentary, The Economics of Happiness, for YES! Magazine. The film argues that community is the foundation of happiness and that globalization is the enemy of community. The movie also examines what ordinary citizens can do to nurture their own communities.

This post features links to the best independent, progressive reporting about the economy bymembers of The Media Consortium. It is free to reprint. Visit the Audit for a complete list of articles on economic issues, or follow us on Twitter. And for the best progressive reporting on critical economy, environment, health care and immigration issues, check out The MulchThe Pulse and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

Weekly Mulch: The EPA Can Regulate Carbon, For Now

by Sarah Laskow, Media Consortium blogger

This week, the House voted to shut downthe carbon regulation program at the Environmental Protection Agency, but the Senate rejected four different measuresthat would have stopped or delayed EPA action. The EPA, as mandated by the Supreme Court, has been moving forward with regulations that would require carbon polluters to apply for EPA permits and to use the best available method to start limiting carbon emissions.

The Office of Management and Budget has promised that if Congress does vote to end the regulation program, “senior advisors would recommend that [the president] veto the bill,” as I report at The American Prospect. But as David Roberts points out at Grist, that does not mean President Obama would follow that course. Roberts writes:

I don’t see a promise there. I see wiggle room where his advisers can “recommend” a veto and he can ignore their recommendations. And of course this leaves aside whether Obama would veto a spending or appropriations bill with an EPA-blocking rider.

Making a better choice

The legislators who are supporting the anti-EPA bill often argue that the power to deal with this issue should rest with them, not the executive branch. But they also argue against the EPA’s regulations on the grounds that they’ll cost American companies money, leading to higher costs for consumers and fewer jobs.

It’s true: Dealing with carbon is expensive. Right now, Americans simply aren’t paying for the damage being done to the atmosphere, and many of us don’t seem to care.

In Orion Magazine, Kathryn Miles writes about this problem in a review of Moral Ground: Ethical Action for a Planet in Peril, a new collection of essays on the problem of climate change:

As editors Kathleen Dean Moore and Michael P. Nelson argue in their introduction, neither scientific data nor externally imposed regulation will change hearts and minds — let alone our behavior. “What is missing,” they contend, “is the moral imperative, the conviction that assuring our own comfort at terrible cost to the future is not worthy of us as moral beings.” And so, rather than focus on atmospheric theory and tipping-point statistics, Moral Ground seeks to inspire action through a recognition of our species’ commitment to ethical behavior.

Choices

In some cases, making ethical environmental choices does mean paying more, at least temporarily, for clean energy, for products that create carbon pollution, for gas and oil. But there are also ways to fight climate change while saving money.

Composting, for example, costs nothing and produces something of value. In New York, the Lower East Side Ecology Center collects food scraps, composts them, and sells the finished product at the Union Square Farmer’s Market. As Kara Cusolito writes at Campus Progress, “Composted food scraps—whether from food prep or leftovers — turn back into the rich, fluffy soil that farmers and gardeners need to grow more food.” Farmers, for instance, can stop buying fertilizer if they start composting. Cusolito quotes one farmer who puts the choice in perspective: “Saying plants can’t grow well if they’re not conventionally fertilized is like saying people can’t be as happy if they’re not on drugs.”

The price of solar energy

Clean energy isn’t free of negative consequences, though, and clean energy advocates increasingly are butting heads with environmentalists who want to minimize the impact of new energy sources.

As dependence on natural gas, which counts as clean when compared with coal, grows in this country, worries about the threat of gas drilling to water sources is rising. At Earth Island Journal, Richard Ward of the UN Foundation, which supports natural gas as a clean energy source, and Jennifer Krill, executive director of Earthworks, lay out the cases for and against natural gas. Krill argues:

If the natural gas industry wants to be “clean,” it should embrace policies that mean no pollution of groundwater, drinking water, or surface waters; stringent controls on air pollution, including greenhouse gas emissions; protection for no-go zones, like drinking watersheds and sacred and wild lands; and respect for landowner rights, including the right to say no to drilling on their property.

But Krill notes the gas industry hasn’t show much interest in pursuing those compromises. And out west, some conservationists are objecting to the influx of solar panels on fragile desert lands. One group, Solar Done Right, for instance, “doesn’t disagree that much more solar energy is needed in order to decrease fossil fuel consumption and reduce heat-trapping greenhouse gas emissions, but they do disagree with developing solar facilities the way utilities build massive coal- or gas-fired power plants,” reports David O. Williams for The Colorado Independent. Instead, the group argues that solar energy can thrive in the “built environment,” on rooftops and on sites that are not environmentally vulnerable.

No matter what we do, there will be some costs to getting off of carbon, both for the economy and for the environment. But if the world does not decrease its carbon emissions, the costs will be much higher.

This post features links to the best independent, progressive reporting about the environment bymembers of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The AuditThe Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: The EPA Can Regulate Carbon, For Now

by Sarah Laskow, Media Consortium blogger

This week, the House voted to shut downthe carbon regulation program at the Environmental Protection Agency, but the Senate rejected four different measuresthat would have stopped or delayed EPA action. The EPA, as mandated by the Supreme Court, has been moving forward with regulations that would require carbon polluters to apply for EPA permits and to use the best available method to start limiting carbon emissions.

The Office of Management and Budget has promised that if Congress does vote to end the regulation program, “senior advisors would recommend that [the president] veto the bill,” as I report at The American Prospect. But as David Roberts points out at Grist, that does not mean President Obama would follow that course. Roberts writes:

I don’t see a promise there. I see wiggle room where his advisers can “recommend” a veto and he can ignore their recommendations. And of course this leaves aside whether Obama would veto a spending or appropriations bill with an EPA-blocking rider.

Making a better choice

The legislators who are supporting the anti-EPA bill often argue that the power to deal with this issue should rest with them, not the executive branch. But they also argue against the EPA’s regulations on the grounds that they’ll cost American companies money, leading to higher costs for consumers and fewer jobs.

It’s true: Dealing with carbon is expensive. Right now, Americans simply aren’t paying for the damage being done to the atmosphere, and many of us don’t seem to care.

In Orion Magazine, Kathryn Miles writes about this problem in a review of Moral Ground: Ethical Action for a Planet in Peril, a new collection of essays on the problem of climate change:

As editors Kathleen Dean Moore and Michael P. Nelson argue in their introduction, neither scientific data nor externally imposed regulation will change hearts and minds — let alone our behavior. “What is missing,” they contend, “is the moral imperative, the conviction that assuring our own comfort at terrible cost to the future is not worthy of us as moral beings.” And so, rather than focus on atmospheric theory and tipping-point statistics, Moral Ground seeks to inspire action through a recognition of our species’ commitment to ethical behavior.

Choices

In some cases, making ethical environmental choices does mean paying more, at least temporarily, for clean energy, for products that create carbon pollution, for gas and oil. But there are also ways to fight climate change while saving money.

Composting, for example, costs nothing and produces something of value. In New York, the Lower East Side Ecology Center collects food scraps, composts them, and sells the finished product at the Union Square Farmer’s Market. As Kara Cusolito writes at Campus Progress, “Composted food scraps—whether from food prep or leftovers — turn back into the rich, fluffy soil that farmers and gardeners need to grow more food.” Farmers, for instance, can stop buying fertilizer if they start composting. Cusolito quotes one farmer who puts the choice in perspective: “Saying plants can’t grow well if they’re not conventionally fertilized is like saying people can’t be as happy if they’re not on drugs.”

The price of solar energy

Clean energy isn’t free of negative consequences, though, and clean energy advocates increasingly are butting heads with environmentalists who want to minimize the impact of new energy sources.

As dependence on natural gas, which counts as clean when compared with coal, grows in this country, worries about the threat of gas drilling to water sources is rising. At Earth Island Journal, Richard Ward of the UN Foundation, which supports natural gas as a clean energy source, and Jennifer Krill, executive director of Earthworks, lay out the cases for and against natural gas. Krill argues:

If the natural gas industry wants to be “clean,” it should embrace policies that mean no pollution of groundwater, drinking water, or surface waters; stringent controls on air pollution, including greenhouse gas emissions; protection for no-go zones, like drinking watersheds and sacred and wild lands; and respect for landowner rights, including the right to say no to drilling on their property.

But Krill notes the gas industry hasn’t show much interest in pursuing those compromises. And out west, some conservationists are objecting to the influx of solar panels on fragile desert lands. One group, Solar Done Right, for instance, “doesn’t disagree that much more solar energy is needed in order to decrease fossil fuel consumption and reduce heat-trapping greenhouse gas emissions, but they do disagree with developing solar facilities the way utilities build massive coal- or gas-fired power plants,” reports David O. Williams for The Colorado Independent. Instead, the group argues that solar energy can thrive in the “built environment,” on rooftops and on sites that are not environmentally vulnerable.

No matter what we do, there will be some costs to getting off of carbon, both for the economy and for the environment. But if the world does not decrease its carbon emissions, the costs will be much higher.

This post features links to the best independent, progressive reporting about the environment bymembers of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The AuditThe Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: The EPA Can Regulate Carbon, For Now

by Sarah Laskow, Media Consortium blogger

This week, the House voted to shut downthe carbon regulation program at the Environmental Protection Agency, but the Senate rejected four different measuresthat would have stopped or delayed EPA action. The EPA, as mandated by the Supreme Court, has been moving forward with regulations that would require carbon polluters to apply for EPA permits and to use the best available method to start limiting carbon emissions.

The Office of Management and Budget has promised that if Congress does vote to end the regulation program, “senior advisors would recommend that [the president] veto the bill,” as I report at The American Prospect. But as David Roberts points out at Grist, that does not mean President Obama would follow that course. Roberts writes:

I don’t see a promise there. I see wiggle room where his advisers can “recommend” a veto and he can ignore their recommendations. And of course this leaves aside whether Obama would veto a spending or appropriations bill with an EPA-blocking rider.

Making a better choice

The legislators who are supporting the anti-EPA bill often argue that the power to deal with this issue should rest with them, not the executive branch. But they also argue against the EPA’s regulations on the grounds that they’ll cost American companies money, leading to higher costs for consumers and fewer jobs.

It’s true: Dealing with carbon is expensive. Right now, Americans simply aren’t paying for the damage being done to the atmosphere, and many of us don’t seem to care.

In Orion Magazine, Kathryn Miles writes about this problem in a review of Moral Ground: Ethical Action for a Planet in Peril, a new collection of essays on the problem of climate change:

As editors Kathleen Dean Moore and Michael P. Nelson argue in their introduction, neither scientific data nor externally imposed regulation will change hearts and minds — let alone our behavior. “What is missing,” they contend, “is the moral imperative, the conviction that assuring our own comfort at terrible cost to the future is not worthy of us as moral beings.” And so, rather than focus on atmospheric theory and tipping-point statistics, Moral Ground seeks to inspire action through a recognition of our species’ commitment to ethical behavior.

Choices

In some cases, making ethical environmental choices does mean paying more, at least temporarily, for clean energy, for products that create carbon pollution, for gas and oil. But there are also ways to fight climate change while saving money.

Composting, for example, costs nothing and produces something of value. In New York, the Lower East Side Ecology Center collects food scraps, composts them, and sells the finished product at the Union Square Farmer’s Market. As Kara Cusolito writes at Campus Progress, “Composted food scraps—whether from food prep or leftovers — turn back into the rich, fluffy soil that farmers and gardeners need to grow more food.” Farmers, for instance, can stop buying fertilizer if they start composting. Cusolito quotes one farmer who puts the choice in perspective: “Saying plants can’t grow well if they’re not conventionally fertilized is like saying people can’t be as happy if they’re not on drugs.”

The price of solar energy

Clean energy isn’t free of negative consequences, though, and clean energy advocates increasingly are butting heads with environmentalists who want to minimize the impact of new energy sources.

As dependence on natural gas, which counts as clean when compared with coal, grows in this country, worries about the threat of gas drilling to water sources is rising. At Earth Island Journal, Richard Ward of the UN Foundation, which supports natural gas as a clean energy source, and Jennifer Krill, executive director of Earthworks, lay out the cases for and against natural gas. Krill argues:

If the natural gas industry wants to be “clean,” it should embrace policies that mean no pollution of groundwater, drinking water, or surface waters; stringent controls on air pollution, including greenhouse gas emissions; protection for no-go zones, like drinking watersheds and sacred and wild lands; and respect for landowner rights, including the right to say no to drilling on their property.

But Krill notes the gas industry hasn’t show much interest in pursuing those compromises. And out west, some conservationists are objecting to the influx of solar panels on fragile desert lands. One group, Solar Done Right, for instance, “doesn’t disagree that much more solar energy is needed in order to decrease fossil fuel consumption and reduce heat-trapping greenhouse gas emissions, but they do disagree with developing solar facilities the way utilities build massive coal- or gas-fired power plants,” reports David O. Williams for The Colorado Independent. Instead, the group argues that solar energy can thrive in the “built environment,” on rooftops and on sites that are not environmentally vulnerable.

No matter what we do, there will be some costs to getting off of carbon, both for the economy and for the environment. But if the world does not decrease its carbon emissions, the costs will be much higher.

This post features links to the best independent, progressive reporting about the environment bymembers of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The AuditThe Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

Weekly Mulch: The EPA Can Regulate Carbon, For Now

by Sarah Laskow, Media Consortium blogger

This week, the House voted to shut downthe carbon regulation program at the Environmental Protection Agency, but the Senate rejected four different measuresthat would have stopped or delayed EPA action. The EPA, as mandated by the Supreme Court, has been moving forward with regulations that would require carbon polluters to apply for EPA permits and to use the best available method to start limiting carbon emissions.

The Office of Management and Budget has promised that if Congress does vote to end the regulation program, “senior advisors would recommend that [the president] veto the bill,” as I report at The American Prospect. But as David Roberts points out at Grist, that does not mean President Obama would follow that course. Roberts writes:

I don’t see a promise there. I see wiggle room where his advisers can “recommend” a veto and he can ignore their recommendations. And of course this leaves aside whether Obama would veto a spending or appropriations bill with an EPA-blocking rider.

Making a better choice

The legislators who are supporting the anti-EPA bill often argue that the power to deal with this issue should rest with them, not the executive branch. But they also argue against the EPA’s regulations on the grounds that they’ll cost American companies money, leading to higher costs for consumers and fewer jobs.

It’s true: Dealing with carbon is expensive. Right now, Americans simply aren’t paying for the damage being done to the atmosphere, and many of us don’t seem to care.

In Orion Magazine, Kathryn Miles writes about this problem in a review of Moral Ground: Ethical Action for a Planet in Peril, a new collection of essays on the problem of climate change:

As editors Kathleen Dean Moore and Michael P. Nelson argue in their introduction, neither scientific data nor externally imposed regulation will change hearts and minds — let alone our behavior. “What is missing,” they contend, “is the moral imperative, the conviction that assuring our own comfort at terrible cost to the future is not worthy of us as moral beings.” And so, rather than focus on atmospheric theory and tipping-point statistics, Moral Ground seeks to inspire action through a recognition of our species’ commitment to ethical behavior.

Choices

In some cases, making ethical environmental choices does mean paying more, at least temporarily, for clean energy, for products that create carbon pollution, for gas and oil. But there are also ways to fight climate change while saving money.

Composting, for example, costs nothing and produces something of value. In New York, the Lower East Side Ecology Center collects food scraps, composts them, and sells the finished product at the Union Square Farmer’s Market. As Kara Cusolito writes at Campus Progress, “Composted food scraps—whether from food prep or leftovers — turn back into the rich, fluffy soil that farmers and gardeners need to grow more food.” Farmers, for instance, can stop buying fertilizer if they start composting. Cusolito quotes one farmer who puts the choice in perspective: “Saying plants can’t grow well if they’re not conventionally fertilized is like saying people can’t be as happy if they’re not on drugs.”

The price of solar energy

Clean energy isn’t free of negative consequences, though, and clean energy advocates increasingly are butting heads with environmentalists who want to minimize the impact of new energy sources.

As dependence on natural gas, which counts as clean when compared with coal, grows in this country, worries about the threat of gas drilling to water sources is rising. At Earth Island Journal, Richard Ward of the UN Foundation, which supports natural gas as a clean energy source, and Jennifer Krill, executive director of Earthworks, lay out the cases for and against natural gas. Krill argues:

If the natural gas industry wants to be “clean,” it should embrace policies that mean no pollution of groundwater, drinking water, or surface waters; stringent controls on air pollution, including greenhouse gas emissions; protection for no-go zones, like drinking watersheds and sacred and wild lands; and respect for landowner rights, including the right to say no to drilling on their property.

But Krill notes the gas industry hasn’t show much interest in pursuing those compromises. And out west, some conservationists are objecting to the influx of solar panels on fragile desert lands. One group, Solar Done Right, for instance, “doesn’t disagree that much more solar energy is needed in order to decrease fossil fuel consumption and reduce heat-trapping greenhouse gas emissions, but they do disagree with developing solar facilities the way utilities build massive coal- or gas-fired power plants,” reports David O. Williams for The Colorado Independent. Instead, the group argues that solar energy can thrive in the “built environment,” on rooftops and on sites that are not environmentally vulnerable.

No matter what we do, there will be some costs to getting off of carbon, both for the economy and for the environment. But if the world does not decrease its carbon emissions, the costs will be much higher.

This post features links to the best independent, progressive reporting about the environment bymembers of The Media Consortium. It is free to reprint. Visit the Mulch for a complete list of articles on environmental issues, or follow us on Twitter. And for the best progressive reporting on critical economy, health care and immigration issues, check out The AuditThe Pulse, and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

 

 

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