David Cay Johnston and Robert Kaiser on what’s up with taxes and the Washington elite.

Taxes, spending, and the huge federal deficit. We’ll dig deep into the McCain and Obama plans, and what they could mean for the country’s bottom line.

Here’s a little something to chew on while you get your income tax files together this season. Median income in the USA is $48,000. Average annual income of the top four hundred taxpayers? Two hundred and fourteen million dollars. Yep. Two hundred and fourteen million.
Their share of the nation’s income has doubled since 1995. And [...]

Death and taxes are the two sure things, they say. In the last week, the storm’s been brewing on the tax front. Former Fed chair Alan Greenspan re-emerged to say he never meant to sanction all of George W. Bush’s big tax cuts and the GOP-led spending that rolled right on.
Treasury Secretary Hank Paulson told [...]