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Bill Clinton
A tax system tilted toward the rich
A tax system tilted toward the rich

Congress managed to pass a tax bill in December — a great relief to tax professionals like myself. But what our legislators didn't do was address the fundamentally unfair way the United States taxes people who work for a living compared with people who live off of the earnings of their investments. Our current system hits working Americans with punishing rates compared with what the investing classes are charged. A generation's worth of legislative twists have left our tax code so warped that during the coming filing season, one married couple bringing in $150,000 in total income from two jobs could find itself paying almost three times as much in federal income taxes as...

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