In a new analysis, the Tax Policy Center finds that in 2017, Trump’s cap would affect only about 160,000 singles, a tiny fraction of the 89 million single taxpayers, and about 230,000 couples out of 59 million joint filers.
Some seem convinced that the repatriation tax can grease both a big corporate tax cut and build all those new roads. It might do one or the other, but it cannot do both.
Beware the next time you hear politicians throw around a phrase like 'tax reform.' Pay more attention to what they propose than what they call it.
On average, Trump would cut taxes for middle-income households making $48,000 to $83,000 by about $1,000 or 1.8 percent of their after-tax income. But he’d give those making more than $3.7 million (the top 0.1 percent) an average tax cut of more than $1 million, or 14 percent of their after-tax income.
Major tax cuts are coming in 2017. But the size and design of those cuts remain highly uncertain.
The FBI is seemingly in every other headline in this year’s presidential campaign. The IRS has been in none.
Is the US tax code both too small and too progressive? Yes, say Alan Viard and Sita Nataraj Slavov of the American Enterprise Institute.
The fiscal policy debate in the 2016 presidential election has come down to a familiar question: Do deficits matter?
You might have tuned in to the Oct. 13 Tax Policy Center discussion featuring representatives of each campaign. If you had, you would have seen an absolutely stunning contrast in both style and substance that in many ways mirrored their candidates.
Clinton has proposed a significant tax increase on high-income households and businesses. Trump's plan, while less ambitious than the version he released in 2015, would still largely benefit high-income households and result in a substantial boost in the federal debt.
Canadian Prime Minister Justin Trudeau will require every province to adopt a carbon tax or develop a carbon trading system by 2018. The idea could prove an interesting model for the United States.
Donald Trump believes that cutting taxes on business and high-income households will generate growth. Hillary Clinton believes the answer lies in helping middle-income families by taxing rich individuals and companies. Both are probably wrong.
The scoring system will help illuminate how tax changes affect the overall economy and the federal budget.
House Judiciary Committee Chair Bob Goodlatte proposed his latest version of a bill to clarify when and how states can impose sales taxes on online and catalogue sales. It is … odd.
Donald Trump’s proposal to cut the tax rate to 15 percent for pass-through businesses, such as partnerships and S corporations, would overwhelmingly benefit high-income taxpayers.
The measures aren’t especially dramatic, and are unlikely to garner many headlines, but they have the potential to make tax filing vastly easier for owners of small firms.
Back in the day, when Soviet-era Russian apparatchiks fell out of favor, they’d become non-persons and even be removed from old group photos. That’s what’s happened to Donald Trump’s tax plan from last September.
Despite what Congress wants you to believe, a bill making Olympic medals and cash awards tax free would do almost nothing to help truly struggling athletes.
In contrast to the Republican platform, the Democrats' tax platform doesn't include many specifics about the party's goal for taxes and does not call for fundamental tax reform.
Though the world economy has changed drastically in the past hundred years, the basic international tax framework has not. Michael Graetz addresses how to handle issues of international tax in a recent talk at Tax Policy Center.