What if hitting the statutory debt limit does not happen until sometime in the first quarter of 2013? That is increasingly likely, say the folks who watch this sort of thing. And it would completely change the politics of the coming train wreck.
Tax reform will be difficult, but with a four-step road map, it can be done.
Ever since the U.S. financial crash of 2008 and the beginnings of the pending Euro-zone financial collapse, governments have been debating whether securities transactions should be subject to a new tax. Such a levy would discourage bad behavior in the financial markets, but it could have dire unintended consequences.
Will Obama's public support of marriage equality spill over to financial matters?
It's easy to look at European elections in France, Greece, Spain, Portugal, Italy, and Denmark and see a massive rejection of fiscal austerity. Is that accurate, and what does it mean for proponents of austerity in the US?
Two economists, a tax historian, and a philosopher debated what a 'fair' tax code means at an Urban Institute panel this week.
A House subcommittee is reviewing dozens of expiring tax provisions. The political pressure to extend the subsidies en bloc is immense.
The mechanics of the House GOP's Small Business Tax Cut Act seem to fly in the face of what many in the party have been saying lately.
Letting the Bush/Obama tax cuts (including the payroll tax cut) fall off the cliff would increase taxes on an average American household by $3,000 in 2013 alone, likely wrecking a still-fragile economy.
Our current insanely complex tax rules are made possible by technology. Yes, computer software makes filing easier, but that may be the problem.
Tax policy experts disagree on many things, including what the definition of 'rich' is. But they agree that imposing a minimum tax of any kind is an admission of policy failure.
One study predicts health care reform would add billions to the deficit, while another predicts just the opposite. Which is right?
Two Ohio Members of Congress have introduced a bill to allow states to issue tax-exempt bonds to demolish buildings, which is a bad solution to a serious problem of urban development.
It is the unfounded rumor that never dies: You will have to pay a 3.8 percent federal health care tax on the sale of your house. For all but a handful of taxpayers, this is not true.
Obama's leath-care reforms include both tax increases and tax cuts. Even if the controversial individual mandate is struck down, most of those tax changes would survive—unless, of course, the High Court kills the entire act.
'Federal spending' figures are not reliable markers. In reality, the federal government spends about 30 percent more than it admits.
The tax cuts in Paul Ryan’s 2013 budget plan would result in huge benefits for high-income people and very modest—or no— benefits for low income working households. No surprise here.
Paul Ryan may not have intended it, but his 2013 budget is the strongest argument I’ve seen for why any serious fiscal plan must include new revenues.
House Budget Committee Chairman Paul Ryan (R-WI) released a fiscal plan that promises trillions of dollars in tax cuts and a nearly balanced budget within a decade, but never says how he'd get there.
In theory, it makes sense to establish special accounts where designated revenues are set aside for a specific purpose. But in practice, Washington is grossly abusing the idea.