For decades, policymakers have enthusiastically supported special tax breaks for small businesses, including start-ups. But there is a wide gap between the professed support for small businesses and what the tax code does for (and to) start-ups in the real world.
Jeb Bush gave a speech this week that exposed some interesting internal conflicts in the former Florida governor’s campaign platform. On one hand, Bush called for government to help working class families. On the other, he demanded that government stay out of the way and let markets grow the economy.
President Obama laid out his vision for the tax code. He's using a 'middle-class economics' agenda aimed at raising taxes on capital gains on high-income groups and redistribute the money from rich to working-class households. While, Republicans want to cut tax rates mostly. Will there be a middle ground?
Do deficits matter? It is an age-old question that’s going to get renewed attention in a Congress where Republicans have made no secret of their desire to cut government spending. Two tax experts take up the deficit debate.
The past 12 months were a banner year for bad ideas and their perpetrators. We've picked out the worst top 10 ideas and hope history won't repeat itself for 2015.
Many people with disabilities face financial challenges. To address this issue, Congress is on the verge of approving the Achieving a Better Life Experience (ABLE) Act that would create tax-free savings accounts to assist disabled people. However, it comes with its eligibility restrictions and cannot be a complete solution.
A year later, the Affordable Care Act's tax on medical devices is back under scrutiny. If Republicans can line up a significant number of Democrats to vote in favor of repealing the tax next year, they get an easy win and make the case that there is bipartisan opposition to the ACA.
A popular Washington narrative is that President Obama will kill prospects for tax reform in 2015 if he grants legal status to undocumented immigrants. But even if Obama does nothing on this issue, the political headwinds against a tax code rewrite were already too strong.
Congress needs to finance highway and transit projects but can’t agree on how. The traditional revenue source is the gas tax. Gas prices are at their lowest levels in years and dropping. Consumers would barely notice if they had to pay a bit more now at the pump. But a gas tax hike won't happen.
Republicans had a very good day in midterm elections yesterday. But can they translate their ballot-box success into a positive legislative agenda? Six things to watch.
The IRS is taking a hard look at 'supersize' IRAs, or Mitt Romney-esque retirement accounts valued in the multimillions. According to regulators, the holders of these IRAs probably didn’t end up with huge accounts merely by making maximum contributions each year and investing wisely.
Washington is going through another one of its periodic calls for business tax reform. But new research shows just how hard it is to separate business taxation from the individual tax code. And it should serve as a warning to those who think Congress can enact corporate tax reform that ignores it.
The Treasury's new rules won't stop the wave of corporate tax inversions – Treasury Secretary Jack Lew acknowledged as much when the agency proposed the curbs yesterday. Will they slow the practice? Perhaps, but even that is not certain.
The Treasury Department is moving to close loopholes that allow US companies, like Burger King, to move corporate headquarters overseas for a lower tax bill. But the debate continues over whether Treasury even has the power to limit the practice.
The argument to repeal the corporate income tax has gained a lot of steam. But what would replace it?
The latest projections from the Congressional Budget Office expect the federal deficit to shrink, but the more interesting story is what is expected to happen to federal spending under current law.
All the fracas over tax inversions like the recent Burger King-Tim Horton's merger has generated some interesting ideas for broader changes in the way we tax multinational firms. One would base a firm’s US taxable profits on the US share of its total worldwide sales.
Treasury Secretary Jack Lew is considering regulatory curbs on corporate tax inversions as a growing number of US companies, like Pfizer and potentially Burger King, take them on as a way to lower their tax bills.
Reducing tax rates is a guiding principal of most tax reform plans. But how much does Treasury lose when Congress reduces individual tax rates, and which taxpayers benefit the most from the cuts?
For all the hand-wringing about the budget deficit, Congress passed two important bills last week, but with no idea how to pay for either of them. The deficit is an issue lawmakers care deeply about, except when they don’t.