Topic: Joint Committee on Taxation
Top galleries, list articles, quizzes
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Briefing
Buffett rule: Five questions about Obama's plan answered
President Obama wants a proposed "Buffett rule" to make sure that millionaires pay at least a 30 percent federal tax rate. Here are five facts that shed light on the Buffett rule and the debate surrounding it.
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In Pictures: Who's who on the US deficit super committee
All Content
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Federal Reserve official: If Congress dawdles, economy will fall 3 percent
Congress must sort out a raft of fiscal issues before Jan. 1, or it will cost the US economy dearly, said New York Federal Reserve President William Dudley.
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Tax VOX
Buffett rule revenue would be huge
If you think the Bush tax cuts should be extended—an idea most opponents of the millionaire tax support—revenues from a minimum tax rate on millionaires would increase by a much more significant $162 billion over the decade. And that’s hardly the chump change than the Buffett rule's critics imply.
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Tax VOX
Congressional courage on expiring tax provisions
A House subcommittee is reviewing dozens of expiring tax provisions. The political pressure to extend the subsidies en bloc is immense.
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Tax VOX
Do Republicans contradict themselves in the Small Business Tax Cut Act?
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.
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Briefing
Buffett rule: Five questions about Obama's plan answered
President Obama wants a proposed "Buffett rule" to make sure that millionaires pay at least a 30 percent federal tax rate. Here are five facts that shed light on the Buffett rule and the debate surrounding it.
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What the 'Buffett rule' reveals about Obama tax reform plans
President Obama is pushing Tuesday for the so-called Buffett rule – a proposal to ensure that millionaires pay a higher rate on federal income taxes than the middle class. He and Democrats see it as a guarantee that the rich will pay more, even if Congress again extends the Bush tax cuts.
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Obama: Republican budget 'radical,' a 'Trojan horse'
Obama, in a speech to newspaper executives, is sharply criticizing a $3.5 trillion budget proposal pushed by Rep. Paul Ryan, R-Wis., which passed on a near-party-line vote last week and has been embraced by GOP presidential hopefuls.
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Tax VOX
Payroll tax cut full of budget gimmicks
There are two gimmicks happening here. Both are functions of the 10-year budget window the Congressional Budget Office and the Joint Committee on Taxation use to score legislation.
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Tax VOX
Just how big is the payroll tax cut?
The payroll tax cut extension will save workers a total of $114 billion this year. That means an average cut of $714 per worker, though some will take home more (and some less).
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Tax VOX
Why expiring tax cuts should actually expire
The charade of annual or biennial debate about perpetually “expiring” tax provisions is terrible tax policy and a symbol of our failure to come to terms with budget reality.
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On the Economy
Why Romney can pay a 15 percent tax rate
Romney's 15 percent is the going rate on capital gains and dividends, which is where he gets the bulk of his income (along with many others in the top income brackets).
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Unlocking the mystery of Romney's 15 percent tax rate. Yes, it's legal.
Mitt Romney can pay a tax rate of 15 percent because his income, from investment firm Bain Capital, is structured as capital gains in the form of 'carried interest.' Here's how it works.
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Rick Perry's flat tax plan: Would you have to do your taxes twice?
People could opt for flat tax rate of 20 percent or stick with the current tax system. The Rick Perry plan offers choice, but people might need to do two calculations to tell which is best, some say.
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On the Economy
999 Plan: A 'distributional nightmare'
We’ve got enough income and wealth inequality coming from the pretax distribution—we don’t need to exacerbate it through the tax code.
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Economist Mom
Deja vu on tax policy
"Dynamic scoring," or adjusting revenue estimates based on the expected effects of tax policies on the size of the economy, won't fix the deficit problem
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Why tax code appears to offer deficit 'super committee' rare common ground
Congress's deficit 'super committee' began its look into reform of the tax code. Despite the partisanship consuming Washington, the $1 trillion in personal and corporate tax breaks buried in the code are an appealing target for both sides.
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In Pictures: Who's who on the US deficit super committee
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A tax holiday for big business that both liberals and conservatives can get behind
Multinational corporations harbor and invest nearly $1.5 trillion overseas to avoid the 35 percent US corporate tax rate. Giving them a 'repatriation holiday' – a tax break if they bring that cash home and create jobs – will please both sides of the aisle and the American people.
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Tax VOX
Social Security: Could a new way to measure inflation affect it?
Social Security is probably the most controversial thing that would be affected by a change in the way inflation is measured. Besides Social Security, what would be the other effects of a new measurement of inflation?
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Economist Mom
Cut taxes for the rich so we can raise taxes on the rich?
If the president gives in on extending tax cuts for the rich, he could still hold Republicans to their claim that they're willing to broaden the tax base
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Donald Marron
Don’t fall for a repatriation holiday
Companies who choose to bring foreign earnings back home shouldn't get a tax break on them
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If Rep. Weiner stays in Congress, will he become irrelevant?
Former members of Congress paint a grim picture of what could await Rep. Weiner if he doesn't resign, including shunning and loss of influence. Democrats are already edging away.
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Growthology
Tax exemptions don't make private foundations public
A tax exemption may indicate government approval, but it doesn't mean a private foundation should be subject to undue government restrictions.
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Tax VOX
Resurrect the estate tax or lose $250 billion
There was no estate tax in 2010, and under the tax cut plan, only 0.2 percent of estates would pay any in 2011. Fewer estates paid estate tax this decade than at any time since 1934.
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Special interests aim to pile onto tax-cut deal, to retain tax credits
Wind power firms, makers of energy-efficient windows, duck hunters, and other special interests are pushing Congress to save – or shelve – some 83 expiring tax credits.
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