Clinton and Sanders Face Off Over Who Should Pay for New Social Programs
Hillary Clinton and Bernie Sanders both want to create ambitious new government programs to help middle-income families with medical and education costs and family leave. Both say they’d pay for those...
View ArticleIf Banning Negligent Low-Income Households From Taking Tax Credits Is Such a...
Congress has banned more low-income families who file erroneous tax returns from receiving refundable credits. If lawmakers think this is such a terrific idea, why stop at low-income households? For...
View ArticleClinton's Caregiver Credit Adds To Her List of Tax Breaks, Sharpens Her...
The contrast couldn’t be more stark, and it seems to be getting stronger. The likely Democratic presidential nominee, Hillary Clinton, would aggressively use the tax code to achieve social and economic...
View ArticleLittle Difference Between the Cadillac Tax and a Cap on the Tax Exclusion for...
In the face of widespread criticism of the Affordable Care Act’s excise tax on high-cost employer sponsored health insurance plans (the Cadillac Tax), some lawmakers have backed an alternative: a cap...
View ArticleNew Estimates Of How Many Households Pay No Federal Income Tax
The Tax Policy Center has updated its estimate of the percentage of households that will not pay federal income tax this year. We now figure it is 45.3 percent, nearly 5 percentage points higher than...
View ArticleWhy Individual Tax Revenues Will Grow Even If Congress Doesn’t Raise Taxes
The other day, I wrote about new Congressional Budget Office estimates that individual income tax revenues are likely to grow significantly over the next decade. A new paper by my Tax Policy Center...
View ArticleScott Walker’s Replacement for the ACA Would Leave Many Uninsured
GOP presidential hopeful Scott Walker’s plan to replace the Affordable Care Act is built on a controversial framework of tax subsidies that Walker estimates would cost about $1 trillion over 10 years....
View ArticleClinton Would Tinker With, Not Rewrite, the Tax Code
While many Republican presidential candidates are promoting their versions of broad-based tax reform, Democratic frontrunner Hillary Clinton so far seems disinterested in fundamentally restructuring...
View ArticleStates That Cut Taxes Do So At Their Peril
Ever since the 1970s, when Jude Wanniski and Arthur Laffer came up with the ideas that are now referred to as supply-side economics, conservative politicians have been unable to resist the siren song...
View ArticleHow Did the Gas Tax Lose Its Mojo, Even Among Conservatives?
With just a few days left before federal funding for highway programs expires, the Senate is debating all sorts of amendments to an extension-- from export subsidies to the Affordable Care Act. But...
View ArticleWho Benefits Most From Repealing the ACA Cadillac Tax?
Republicans and some Democrats in Congress are pressing to repeal the Affordable Care Act’s Cadillac tax—a 40 percent excise tax on high-cost employer-sponsored health insurance plans. Backers of...
View ArticleShould The IRS Become a Consumer Agency Instead of a Tax Cop?
In her latest report to Congress, IRS Taxpayer Advocate Nina Olson made the provocative suggestion that her agency completely rethink its mission: “It should transform itself as a tax agency from one...
View ArticleWho Benefits the Most from an Across-the-Board Cut in Individual Tax Rates?
Just about every tax reform plan calls for cutting individual tax rates. But it turns out that a one percentage point across-the-board rate cut would benefit only about six out of 10 households. The...
View ArticleCombined Tax Rates and Creating a 21st Century Social Welfare Budget
In testimony yesterday before a joint hearing of two House subcommittees, I urged Congress to modernize the nation’s social welfare programs to focus on early childhood, quality teachers, more...
View ArticleHow to Pay Zero Taxes on Income of Millions of Dollars
Remember when people complained that hedge fund managers and private equity firm owners paid a lower tax rate than many workers? Or when Warren Buffett said he shouldn’t pay a lower rate than his...
View ArticleRand Paul’s Tax Cut Isn't Quite What It Seems
Unlike those GOP presidential hopefuls who say their tax reforms would raise the same amount of money as the current tax code, even when their actual proposals would not, Senator Rand Paul isn’t being...
View ArticleHow Many Americans Get Government Assistance? All of Us
The other day, the Census Bureau put out a new report that concluded about one-in-five Americans received government benefits in 2012. But the study, called Dynamics of Economic Well-Being:...
View ArticleA Redesigned Earned Income Tax Credit Could Encourage Work by Childless Adults
The earned income tax credit (EITC) lifts millions of working families out of poverty, but provides little support to workers without children and some low-wage workers married to other low-wage...
View ArticleMarco Rubio Wasn't the Only One Who Cashed Out an IRA Last Year
It is easy to mock Senator Marco Rubio, who cashed out $68,241 in IRA retirement funds last September. The GOP presidential hopeful, who made about $230,000 last year, told Fox News he needed the dough...
View ArticleAre GOP Presidential Candidates Downplaying Tax Cuts Or Hiding The Ball?
Last week, I blogged on the many GOP presidential candidates who are talking about tax reform rather than tax cuts. This week, tax historian Joe Thorndike published a rebuttal on the Tax Analysts blog...
View Article