In spite of its widespread use and large fiscal cost, the mortgage interest deduction does little to promote home ownership, Toder writes. It provides no subsidy to the nearly two-thirds of taxpayers who do not itemize and only a modest subsidy to those in the 15 percent bracket.
Online sales tax has growing bipartisan support among the nation’s governors, Francis writes, many of whom are strapped for tax revenues.
Congress could simplify child-care tax benefits by harmonizing the maximum allowable expenses for both benefits, or eliminating one of the benefits altogether, Maag writes.
President Obama's 2014 budget would limit tax benefits for workers with high-balance retirement saving accounts. The plan is a smart way to roll back the billions in tax breaks that go to investors who don’t need tax incentives to save for retirement, Harris writes.
President Obama's 2014 budget proposal calls for a so-called 'Buffett Rule' that would ensure that high-income households pay at least a minimum percentage of their income in taxes. It turns out that setting a floor on the taxes rich people pay is not so easy, Williams writes.
If Congress wants to encourage risk-taking, it may be better off focusing on new businesses, not small businesses, Gale writes.
Higher payroll taxes will take $115 billion out of workers’ pockets this year and cut consumer spending, according to the Tax Policy Center.
Backers of a territorial tax system argue that the current worldwide system puts US firms at a competitive disadvantage since they must pay the high US tax rate on repatriated profits earned by their affiliates in low-tax countries, while multinationals based in territorial countries pay only the local tax rate on these profits, Toder writes.
Stockton, Calif., will be the largest US municipality to enter bankruptcy. The question, Gordon writes, is: Who will be left holding the bag?
Corporate tax reform in the US seems to be inevitable, Harris writes, but questions remain over how to pay for it. Finland may have the answer.
The Supreme Court will rule on two gay marriage cases this week, including the Defense of Marriage Act (DOMA). Although DOMA is not primarily a tax law, taxes are the basis for the case going to the Supreme Court, Williams writes.
A bold plan in California would eventually make automatic enrollment widespread and could revolutionize the state’s retirement savings landscape, Harris writes.
That Capital gains taxes hamper economic growth is a widely held belief. The truth might not be so straightforward.
A carbon tax isn’t perfect, Gale writes, but relative to the alternatives, a tax on carbon has an enormous amount to offer to both the economy and the environment.
There are many ideas for improving federal assistance for low-income college students, Rueben writes, including better targeting of higher education tax credits.
To move beyond the sequester, Republicans and Democrats must figure out what they can give up to get what they really want, Steuerle writes.
Republicans and Democrats have signed on to legislation that would allow states to collect taxes on what consumers buy over the Internet. The measure would finally resolve a decades-old dispute over whether states can collect sales taxes on mail-order and online purchases, Francis writes.
New Medicare payroll tax could cost high income couples as much as $1,350 in extra tax. But some couples will get a tax break.
Spending cuts will begin to automatically take effect in two weeks, Harris writes, and allowing the sequester's automatic spending cuts to happen would be terrible policy.
Food stamps, welfare, Medicaid and other tax and transfer systems can sometimes penalize people for earning that extra dollar of income, Steuerle writes.