Business Tax VOX

  • The 10 worst tax ideas for 2014

    The past 12 months were a banner year for bad ideas and their perpetrators. We've picked out the worst top 10 ideas and hope history won't repeat itself for 2015. 

  • Will immigrants get a tax windfall from refundable credits?

    Lawmakers scuttled an effort to permanently extend a number of tax breaks—largely because many feared it would open the door to widespread use of refundable tax credits by undocumented immigrants covered by President Obama’s recent executive order. Is their concern justified?

  • Can Congress get more last minute deals done before the holidays?

    Congress yesterday announced a $1.01 trillion deal but still will need a short-term extension to prevent a government shut-down. Meanwhile, congressional negotiators scramble to wrap up several policy disputes, approve or pass other bills, budget cuts, and more before the holidays. 

  • How Obama would cut childcare costs

    President Obama has proposed important changes for child care costs that could allow families of young children to save thousands. But some families, especially those with just one older child, could wind up paying more. 

  • Retirement security a priority for the Obama administration in 2015

    President Obama proposed that his administration would make retirement security a priority that would increase the ability of part-time workers to join their employer’s plan and improve tax incentives for businesses. 

  • Fixing the President's 'angel of death' capital gains tax

    President Obama's tax on capital gains at death makes enormous sense. But the problem is with the record-keeping involved. Having to keep track of every asset purchase ever made would be extremely difficult. Fortunately, there is an easy fix. 

  • The tax reform gap between Obama and the GOP is widening

    President Obama laid out his vision for the tax code. He's using a 'middle-class economics' agenda aimed at raising taxes on capital gains on high-income groups and redistribute the money from rich to working-class households. While, Republicans want to cut tax rates mostly. Will there be a middle ground? 

  • Obama wants to tax the rich. It's a plan abroad, too.

     President Obama called on Congress last night to address wealth inequality through the tax code. But taxing the rich isn't just an American thing; Russia, Great Britain, and Brazil have  rules or proposals in motion to put the tax code to work agains income inequality. 

  • President Obama targets the 'angel of death' capital gains tax loophole (+video)

    The president plans to announce new proposals that would substantially increase taxes for the wealthiest Americans. But the possible elimination of the 'angel of death' tax loophole is a more significant change, taxing the wealthy on inherited capital gains.

  • Is the budget deficit even a problem?

    Do deficits matter? It is an age-old question that’s going to get renewed attention in a Congress where Republicans have made no secret of their desire to cut government spending. Two tax experts take up the deficit debate. 

January 27, 2015

Photos of the day 01/27

Lemurs eat at Qingdao Forest Wildlife World in Qingdao, Shandong province, China, Tuesday.

More Tax VOX
  • Can Congress get more last minute deals done before the holidays?

    Congress yesterday announced a $1.01 trillion deal but still will need a short-term extension to prevent a government shut-down. Meanwhile, congressional negotiators scramble to wrap up several policy disputes, approve or pass other bills, budget cuts, and more before the holidays. 

  • Can the House compromise on a $1.1 trillion spending bill?

    The House is scheduled to vote tomorrow on a $1.1 trillion spending bill expected to be released today. Meanwhile, the IRS oversight report is out and the Congress is about to pass the compromise spending bill. 

  • Are tax-free ABLE accounts the right financial solution for the disabled?

    Many people with disabilities face financial challenges. To address this issue, Congress is on the verge of approving the Achieving a Better Life Experience (ABLE) Act that would create tax-free savings accounts to assist disabled people. However, it comes with its eligibility restrictions and cannot be a complete solution. 

  • Why child tax and earned income tax credits should be made permanent

    Two provisions that are enormously important to low- and moderate-income households-the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) are set to expire after 2017. They are relatively inexpensive ways to promote work and family, and Congress should make them permanent. 

  • House to vote on tax break extension. Will it affect you?

    The House may vote this week on a one-year retroactive tax break extension. As many as one in six taxpayers could be affected without an extension of the 60 or more tax breaks. 

  • What falling oil prices will mean for state budgets

    Oil prices are dropping…fast. This may be good news for drivers but not so good for a handful of states that use energy tax revenue to help fund their budgets. 

  • Bigger, cleaner, and more efficient: a carbon corporate tax swap

    US could reduce its contribution to global climate change by taxing emissions of carbon dioxide and other greenhouse gasses and use the resulting revenue to reduce corporate income taxes. This carbon-corporate tax swap would make our economy bigger, cleaner, and more efficient. 

  • How did medical device makers become poster children for Obamacare critics?

    A year later, the Affordable Care Act's tax on medical devices is back under scrutiny. If Republicans can line up a significant number of Democrats to vote in favor of repealing the tax next year, they get an easy win and make the case that there is bipartisan opposition to the ACA. 

  • Will Obama's immigration action kill tax reform? No.

    A popular Washington narrative is that President Obama will kill prospects for tax reform in 2015 if he grants legal status to undocumented immigrants. But even if Obama does nothing on this issue, the political headwinds against a tax code rewrite were already too strong. 

  • Now is the perfect time to raise gas taxes

    Congress needs to finance highway and transit projects but can’t agree on how. The traditional revenue source is the gas tax. Gas prices are at their lowest levels in years and dropping. Consumers would barely notice if they had to pay a bit more now at the pump. But a gas tax hike won't happen. 

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