The result? In the past 25 years, one American family in seven has sought refuge in federal bankruptcy court. Exhaustive research by Elizabeth Warren… - David Cay Johnston

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The result? In the past 25 years, one American family in seven has sought refuge in federal bankruptcy court. Exhaustive research by Elizabeth Warren... and her associates... has proven that the vast majority of people seek refuge... after any two of three events combine: divorce, job loss, or major medical problems.

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About David Cay Johnston

(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).

Also Known As

Birth Name: David Cay Boyle Johnston
Alternative Names: DC Report

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Additional quotes by David Cay Johnston

[T]he Internal Revenue Service in 2003 released its first public analysis of tax returns filed by the 400 highest income Americans... from 1992 to 2000. ...the federal income tax burden on Americans overall rose by 18 percent, it fell by 16 percent for the top 400, whose incomes soared.

Rewriting the economic rules... in the past few decades has been done under the banner of "" and its promise that less government means more economic growth. The term itself is a misnomer. No society is free from regulation. Everything has rules...

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Inflation, combined with the end of real growth in wages beginning in 1973, created... "bracket creep" that moved people into higher tax brackets even if... real incomes were unchanged.

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