Congress could close the nation’s tax loopholes without waiting for comprehensive tax reform. And, if Congress does its job right, the US Department of the Treasury could stop patching the corporate tax quilt on its own.
President Barack Obama and Speaker Paul Ryan have proposed similar expansions of the earned income tax credit (EITC) for low-income workers that don't have children. But as designed, their proposals could actually penalize many low-income workers who choose to marry or are married.
Most American families would receive new government benefits that would exceed their higher taxes under the domestic policy agenda of Democratic Presidential hopeful Bernie Sanders. But his proposal would still add significantly to the national debt.
You don’t have to like the new government programs she’s proposing, and you don’t have to like how she’d pay for it. But in an election season when other candidates think nothing of adding trillions of dollars to the debt, Clinton’s agenda seems almost frugal.
Value-added taxes (VATs) have been attracting growing attention in the United States. There are many benefits to such a tax, and new research shows that it should not be a burden for small businesses, either.
At least when it comes to taxes, GOP rivals Ted Cruz and Donald Trump have far more ideas than Kasich. In the contest over specifics, the Ohio governor and former House Budget Committee chairman, is a distant third.
Like millions of other Americans, President and Mrs. Obama filed their 2015 tax return shortly before the deadline. Unlike most of us, they also posted their return on the White House website for everyone to see.
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Confiscated rare and protected wildlife products, such as these stuffed Sumatran tiger skins, are burned and destroyed during a ceremony by government forestry and wildlife officials in Banda Aceh, Aceh province, Indonesia on Monday.
Ryan, who became speaker because he is both a strong partisan and a smart man, cleverly conflates two ideas: By raising the notion of 'static distribution,' he describes the growth and distributional effects of tax policy as if they are the same thing. They are not.
While most presidential candidates are proposing big, bold changes to the federal tax code, they seem to be paying little attention to what those revisions would mean for state and local governments. And those implications could be substantial.
In modeling presidential tax plans, several things need to be considered, among them the net economic impact of an explicit trade-off of higher taxes for new spending programs and the relationship between tax changes and the overall economy.