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Writing in the New York Times, Stephanie Strom brings yet another instance of how corporations and their enabling political benefactors have clearly had their way with the tax code.

Jobs data released this morning show that the economy continued to a seven-month trend of shedding jobs. July's bottom-line job-loss number was mitigated by an increase of 25,000 government jobs; private sector employment dropped by 76,000. Since January, the economy has lost 463,000 jobs. The unemployment rate also moved upward from 5.5 percent to 5.7 percent. In the past year, the unemployment rate has rise 1.0 percent as 1.6 million workers have become unemployed. (click to enlarge)

Joint Economic Committee ranking member Jim Saxton (R-NJ) musters moral fibre to stand up for the downtrodden richest one percent among us to lament the growing burden that increasing shares of income are placing upon this voiceless group. It's true: According recently-released IRS data, while the richest one percent of taxpayers (as measured by adjusted gross income) saw their share of income grow from 20.8 percent to 22.1 percent from 2000 to 2006, they also saw their share income taxes climb from 37.4 to 39.9 in that same time.