FROM John Irons
The Flat Tax America's "progressive" income tax takes a larger percentage from high earners than those lower down on the scale. At the moment, there are six tax "brackets," ranging from 10 to 35 percent. Republican presidential candidates Herman Cain and Rick Perry want to replace "progressive" taxation with new versions of the so-called "flat tax," which begins with the idea that all income should be taxed at the same rate. Abraham Lincoln levied the first "flat tax" to finance the Civil War. Since then, the idea's been revived by candidates of both parties, including California Democrat Jerry Brown, when he ran for president in 1992 and Republican Steve Forbes in 1996. What is the "flat tax?" Is it simple? Is it fair? Why do proposals often shift the burden from wealthy taxpayers to those in the Middle Class?
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?
Who's to blame for the opioid crisis? Some of the lawyers who took on Big Tobacco are now going after Big Pharma. It’s all about the deadly epidemic of opioid use. Are the drug companies to blame? What about the users? Later, on today’s Talking Point: making sense of Britain’s upset election.
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?