When the Shishito Hits the Fan

“Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me. You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning EBay auctions, and frying shishito peppers to just the right crispiness. Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?” As tax reform moves to center stage, Ben Steverman provides a good overview of why American Workers Pay Twice as Much in Taxes as Wealthy Investors.

+ “Economists hailed the news as evidence the recovery is finally taking hold after years of frustration for the middle class, which watched the stock market soar while the average American’s income barely budged.” WaPo on the Middle-class income boost of 2016. (Lots of interesting numbers here.)

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