Gleckman asks: Will it take the fear of a financial market collapse and a cliff-driven recession to change the karma on Capitol Hill? Or, can Congress find an easier route to fiscal sanity by ducking the coming showdown?
Americans could face an average tax hike of almost $3,500 in 2013 if Congress goes over the fiscal cliff, Gleckman writes. The looming fiscal cliff poses a major threat for the US economy.
Gleckman offers five suggestions for reducing the portion of Americans who do not pay federal income tax.
Romney has promised a 20 percent across-the-board tax rate cut, and some say he'll pay for it with higher taxes on low- and middle-income households. Gleckman's not convinced.
Gleckman profiles a single mom who likely owes no income tax thanks largely to the Earned Income Tax Credit and the Child Tax Credit.
There are so many things the former Massachusetts governor could learn from the former California governor’s presidential campaigns. But I have in mind only one lesson not learned by Mitt Romney — how Reagan ran on tax reform in 1984.
Revisions in the definition of the corporate income tax may assume that workers bear some of the corporate tax burden.
Convention speeches are not supposed to be State of the Union laundry lists. They are intended to frame a candidate’s vision. But for that vision to mean anything, it needs to be buttressed by real policy. And that went missing at both conventions, though in very different ways.
Tax subsidies and mandatory savings systems are both policies designed to promote saving and investing, but which is more effective?
In last night’s acceptance speech, Mitt Romney sketched out his personal biography and delivered an effective brief on why we shouldn’t reelect President Obama. But, oddly, when it came to taxes he was nearly silent.
While the Romney camp is sure to argue their candidate's fiscal policy is of his own making, his new running mate Paul Ryan’s more comprehensive and controversial plans will likely be a major campaign issue.
Our tax expert crunches the numbers of the Paul Ryan financial plan. end result? While Romney's pick for vice president is often called a deficit hawk, in fact balancing the budget is not one of his high priorities.
Romney tax plan avoids several key Simpson-Bowles proposals that would raise taxes overall and reduce the deficit. Instead, Romney tax plan relies solely on mostly unspecified spending cuts to trim deficit.
The idea that Olympic medals should be tax-exempt is one of the few things Republicans and Democrats can agree on. And they're both wrong.
Mitt Romney's tax plan may not hike taxes for the middle class, as the Obamam camp claims. Still, the plan is so full of contradictions that Mitt Romney won't be able to do everything he promises.
Tax-exempt organizations won’t be immune from the debate over tax reform, and their special treatment may be jeopardized as Congress looks for ways to broaden the tax base. The growing commercial activity of many charities should make us rethink their status.
Soon, the Senate will vote on the first of two competing efforts to temporarily extend tax cuts passed between 2001 and 2010. Neither the Democratic nor Republican measures will pass in the hyper-partisan Senate, but it is instructive to see how the measures stack up.
Voting this week to let tax cuts expire for the wealthy, Democratic senators are likely to make a curious exception for taxes on dividends.
With a budget that encourages consumption rather than savings, the gap between the American Dream and reality will only widen, some at the Tax Policy Center fear. One solution: Rethink those tax subsidies that too often hinder mobility in the name of enhancing it.
By jumping off the fiscal cliff, Congress can magically turn a tax increase into a tax cut. All it has to do is let existing tax cuts expire.