WSJ Editorial: The Non-Taxpaying Class

E.J. Dionne, Tim Noah and Josh Marshall are making fun of the Wall Street Journal editorial last week which basically says:

[A]s fewer and fewer people are responsible for paying more and more of all taxes, the constituency for tax cutting, much less for tax reform, is eroding. Workers who pay little or no taxes can hardly be expected to care about tax relief for everybody else. They are also that much more detached from recognizing the costs of government.

And WSJ’s example: people earning $12,000 a year! The quotes from the above sites make the editorial look like it was published by The Onion. I couldn’t find the editorial online as I don’t subscribe to the Wall Street Journal, so I can’t say if these characterisations are correct.

UPDATE: Matthew Yglesias has some ideas from the Dead Kennedys to accomplish what WSJ wants.

UPDATE II: The editorial can be found here. (Via CalPundit who has a good post on this topic.)

Bush Tax Cut

Very interesting table from the Tax Policy Center about how the Bush tax cut of last year would affect the rich and the poor after it is all phased in. Overall, the change in after-tax income will be 1.8%. The richest 1% get 4.5% however. The worst-off: those in the bottom 20% as well as the top 10% minus the top 1%. That’s curious indeed. (Courtesy of Max Sawicky)