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.
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.
Donald Trump's tax reform plan would drain government coffers of revenues. Coupled with his promise to avoid cuts to Social Security and Medicare – two big parts of the budget – it would boost public debt to all-time record levels.
The Clintons are rich, pay a lot of taxes, and are more generous than average for people in their bracket.
In just three years as governor, Republican vice presidential nominee Mike Pence successfully pushed proposals to cut income taxes, corporate taxes, personal property taxes, and completely eliminate the state’s inheritance tax.
The Tax Policy Center projects that effective federal tax rates this year will range from 3.5 percent for households in the lowest-income quintile (or fifth) to 33 percent for those in the top 1 percent.
Donald Trumphas proposed allowing all families to deduct average childcare costs on their income tax returns. The details are muddy, but subsidies aren’t generally the best way to help low-income households pay for childcare.
In their support of Trump, the Republican Party is backing a substantially different tax plan than they were four years ago with Mitt Romney.
When it comes to taxes, how much can they be swayed by perception?
The 2016 Republican Party platform demands that Congress impeach and convict Internal Revenue Service Commissioner John Koskinen. Impeaching the commissioner may be good political theater, but it's bad for the country.
According to the Tax Policy Center, Clinton's tax proposals could cut $1.2 trillion off the national debt within one decade while Trump's proposals could add $11.2 trillion to the debt.
Democratic presidential nominee Hillary Clinton's tax proposals would raise $1 trillion over the coming decade—and nearly all of it would come from high-income households.
While he was governor of Virginia, Tim Kaine proposed tax hikes to pay for new government programs and tax cuts for low- and middle-income residents. It’s a combination that closely parallels Clinton's tax proposals for the nation.
Britain's vote to leave the European Union may indicate a growing distrust of experts in advanced countries. In order for trust in research and expert opinion to be restored, transparency in funding and peer review should be standard practices.
In an effort to encourage investors and businesses to think long-term, Hillary Clinton has proposed changing how we tax capital gains.
Donald Trump's proposed tax plan could add $11 trillion to federal debt over the next ten years with a revenue reduction that would be the largest in history.
Though policymakers are often consumed with discussing the top tax rate, only one percent of couples are in the 39.6 percent tax bracket. The majority of American incomes are taxed at 15 percent or less.
Nearly half of Americans pay no federal individual income taxes, according to the Tax Policy Center.
It is worth considering the Congressional Budget Office’s fiscal forecast, out today, as you think about the campaign promises of Hillary Clinton and Donald Trump. In that context, Clinton’s agenda is merely irresponsible. Trump’s is fiscal madness.
Organizations such as churches are often faced with the choice between tax-exempt status and use of their political voice.