Gleckman offers a description of what President Barack Obama has pledged to do on tax policy if he is reelected president in November.
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.
Half don't earn enough to pay federal income taxes; many pay other ways.
Gleckman profiles a single mom who likely owes no income tax thanks largely to the Earned Income Tax Credit and the Child Tax Credit.
In a video of a May fundraiser, Mitt Romney says his message can't connect with the 47 percent of Americans who don't pay income tax. Mostly, these people are poor or elderly.
The middle class isn't spending because the values of their homes have plummeted, they've lost much of their savings, and their wages are dropping. Reich argues that Obama has a way to correct this, or at least not make it worse.
Entitlement reform? Forget it. In an era of rampant economic insecurity, Ryan’s destruction of Medicaid, food stamps, social security, and other safety nets would cause American families even greater hardship.
The Earned Income Tax Credit (EITC) is getting an overhaul. The plan can be a huge boost to low-income single parent families, but carries a severe penalty if that parent gets married. A new plan in place of the EITC would address the problem while expanding the benefits.