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Good Question
MP: The 2000 Clinton tax rates are shown above. Assuming Krugman is already in the top tax bracket, the difference in income taxes on the $1.4 million prize income between the old rate under Clinton of 39.6% and today's rate under Bush of 35% would be $64,400. That amount could be sent to the Treasury as a gift to the U.S. government, here are the instructions.
You Are Here:Home > Articles > Contributors > Good Question
Good Question
Oct 14, 2008
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The only question now is whether Paul Krugman will pay taxes on the Nobel prize at the low rates enabled by the Bush tax cuts he has done so much to discredit, or if he will volunteer to pay taxes at higher rates he considers more fair.
~Don Luskin
~Don Luskin
MP: The 2000 Clinton tax rates are shown above. Assuming Krugman is already in the top tax bracket, the difference in income taxes on the $1.4 million prize income between the old rate under Clinton of 39.6% and today's rate under Bush of 35% would be $64,400. That amount could be sent to the Treasury as a gift to the U.S. government, here are the instructions.
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