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.
Just in time for Valentine’s Day, the Tax Policy Center has updated its marriage bonus and penalty calculator to reflect the provisions of the American Taxpayer Relief Act of 2012. Williams discusses three tax provisions that will increase marriage penalties a lot in 2013 for many high-income couples.
Gale offers three reactions to the Congressional Budget Office's latest Budget and Economic Outlook. While we do not face an imminent budget crisis, Gale writes, the data in the Outlook imply that we are not out of the woods.
The federal estate tax is finally permanent, Williams writes, although fewer than one in 700 estates will owe estate tax in 2013.
Work and family tax credits are needlessly complex for immigrant families whose children's legal status and residency determine their eligibility those credits, Maag writes.
With Washington apparently stuck in gear on taxes, it may be tempting to see the states as leading a way to reform, Gordon writes, but the idea of states as laboratories for federal tax reform is fundamentally flawed.
Business profits should be taxed as ordinary income, Rosenthal writes, and private equity funds are the same as other businesses, in that they deploy capital, labor, and other inputs to make their profits.