Topic: Joint Committee on Taxation
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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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Tax VOX How to improve the tax subsidy for home ownership
In spite of its widespread use and large fiscal cost, the mortgage interest deduction does little to promote home ownership, Toder writes. It provides no subsidy to the nearly two-thirds of taxpayers who do not itemize and only a modest subsidy to those in the 15 percent bracket.
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Tax VOX Corporate tax reform is more complicated than politicians think
Corporate tax reform is not a bad idea, Gleckman writes, but it may be harder than either President Obama or key Republicans want to admit.
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Tax VOX How the 'fiscal cliff' deal affects the alternative minimum tax
The newly enacted American Taxpayer Relief Act of 2012 will permanently protect millions of taxpayers from having to pay the alternative minimum tax without Congress having to approve a temporary patch every year or so, Williams writes.
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Tax VOX Will the fiscal cliff hurt charities the most?
With income tax deduction caps among the ideas considered in the fiscal cliff debate, the challenge becomes to raise revenue without discouraging giving, Gleckman writes.
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Tax VOX What the Joint Tax Committee really said about tax reform
Gleckman takes a closer look at a new analysis of tax reform by the Joint Committee on Taxation. His perspective may offer some relief to tax reformers.
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Romney paid excess taxes in 2011. Patriotic or dumb?
Mitt Romney paid $1.9 million in federal taxes on $13.7 million in income. But he could have paid less federal taxes had he claimed a full deduction on $4 million in charitable giving.
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Romney pays at least 13 percent in taxes. Is that low or high?
GOP candidate Romney says he's paid at least 13 percent in taxes every year for a decade. In 2011, he made about $21 million. Middle income families, making from $50,000 to $75,000 a year, average 12.8 percent.
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The Reformed Broker We've become accustomed to its face: Tax cuts and 'My Fair Lady'
With the Bush tax cuts set to expire in January, it seems there are far more problems than solutions when it comes to what we should be doing to try to control, and ultimately reverse, the effects of the recession.
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Tax VOX Dueling tax bills: What each Senate proposal means for you
Soon, the Senate will vote on the first of two competing efforts to temporarily extend tax cuts passed between 2001 and 2010. Neither the Democratic nor Republican measures will pass in the hyper-partisan Senate, but it is instructive to see how the measures stack up.
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More worries for the wealthy? Inheritance tax to jump unless Congress acts
The federal inheritance tax rate will jump to 55 percent in 2013 unless Congress acts. Republicans and Democrats disagree on the best plan. But a stalemate will result in higher inheritance taxes than either party wants.
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That’s Joe Biden on the line, pushing for middle-class tax cuts
In a final push ahead of a Senate vote on extending middle-class tax cuts, the White House sends Vice President Joe Biden out to make Democrats’ case.
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Robert Reich Read my lips: Obama not trying to spark 'class warfare'
The media and regressive Republicans seem to want Americans to believe that President Obama is proposing a tax increase on wealthy Americans. But Robert Reich disagrees, saying in fact under the plan everyone is treated exactly the same.
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Obama tax-cut plan: easing risk of 'fiscal cliff'?
Not extending the Bush-era tax cuts for the rich could cut the federal deficit by $81 billion in 2013, but it could also damage the economy by reining in spending by the highest-earning Americans.
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Decoder Wire Obama's call for middle-class tax cut extension: three key points (+video)
Cutting to the chase: It won't pass. Although voters support higher taxes on the rich – even some Democrats are wary that what counts as 'rich' in some states doesn't go as far in others.
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Tax VOX Obamacare's 'tax' is mostly bark, not bite
The Affordable Care Act’s tax was the essential final piece of the Supreme Court’s decision to uphold the law’s constitutionality. But in reality, the tax itself is modest, at least to start. It will affect relatively few people be hard to enforce.
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Is the Obama health-care law a huge tax increase?
Responding to the Supreme Court's historic ruling on the Affordable Care Act, Republicans are refocusing criticism on the tax fallout from health-care reform. Is it a tax hike? Yes. But on whom?
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Fight brewing in Congress over budget, taxes
Last year, Congress put off hard decisions on the country's finances, but they are coming due in an election-year showdown.
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Tax VOX A better way? The case for a new kind of tax reform
There is nothing inevitable about the glum estimate set forth in the Congressional Budget Office's latest fiscal policy snapshot. What if Congress retained the level of taxation set by current law, while collecting the money in a much smarter way?
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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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