The "fiscal cliff" deal's phaseout of itemized deductions is really a sneaky way to raise marginal income tax rates and creates an economic incentive to give to charities, Burman writes.
The District of Columbia Tax Reform Commission sat down recently to tackle one of the biggest issues of our time. Such reform is hard, in large part because the characteristics of a good tax system are inconsistent.
In practice, the populist solution is not as simple or as effective as it sounds.
He’s likely to propose a credit of $500 per person to help stimulate the economy.
But this plan is likely to be aimed at people and areas hit hard by the slump.