Many Americans believe that Medicare is financed like Social Security – mostly through payroll taxes – but that's not the case. Payroll taxes only cover a third of Medicare's cost, with other revenues and borrowing accounting for the rest.
In deciding the fate of expired and expiring tax cuts, lawmakers should consider the larger problems facing our tax system. That system is needlessly complex, economically harmful, and widely perceived as unfair. And it fails at its most basic task: raising enough money to pay our bills.
The two heavyweights of economic statistics are released this week, but the with both the job market stats and numbers on economic growth, competing systems of data collection and presentation can sometimes create confusion.
A new Pew study shows that less and less people are willing to respond to public opinion surveys. This increases the cost of reliable surveys and raises the question of whether the minority of respondents are representative of the population as a whole.
Budgeting for Medicare's hospital insurance program is flawed. Here are two ways to fix it (and one way not to).
A new study of the Affordable Care Act finds peculiar Medicare budgeting practices, including counting spending cuts and revenue increases twice. It's causing a stir among budget experts.
Years ago, American Airlines offered unlimited first class air travel, for one-time price of $350,000, to a select group of frequent travelers. It cost the airline millions of dollars in revenue.
Skip the new high heels. You'll get more lasting enjoyment out of going bungee jumping, driving hours to try a new restaurant, or getting lost on vacation.
The tax code is full of credits, exclusions, and preferential rates. Taken together, such tax preferences will total almost $1.3 trillion this year. But even if Congress repealed all of these tax preferences, it would likely generate much less than $1.3 trillion in new resources.
High heels can exert a heavy toll on the body, and are often uncomfortable and unsafe. Should they be taxed?
In economic policy debates, lawmakers have to be very careful about the language they choose.
Come April 1, America's corporate tax rates will be the highest in the developed world. That's bad policy for the United States.
The problem is that incentive compensation based on financial performance does a lousy job of distinguishing skill from luck.
Our code is too complex, unfair, and economically harmful. Fixing it will take a heightened level of care.
Our corporate tax system maximizes the degree to which corporate managers have to worry about taxes when making business decisions, but limits the revenue that the government actually collects.
America’s tax system is needlessly complicated, economically harmful, and often unfair. Here are my five principles for the ideal tax system.
The 'Buffett rule' – a minimum tax rate on millionaires – wouldn't have much effect on wages and salaries, but it would greatly impact capital gains.
According to a new study, the answer is yes. But there are a few factors that level the field.
Former Stanford professor Sebastian Thrun has already taught a class of 160,000. Now he's aiming to teach 500,000 students.
The top tax rate on long-term capital gains is currently 15 percent. That’s why Mitt Romney is talking so much about his tax returns. Often overlooked is the fact that the days of the 15 percent tax rate are numbered.