Topic: Tax Policy Center
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Briefing
Fiscal deal will cost you: 8 tax changes
Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.
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'Fiscal cliff' 101: 5 basic questions answered
President Obama and congressional leaders are working to stop the US from going over the “fiscal cliff,” a combination of higher taxes and lower spending set to take effect Jan. 1. Here are five steps to understanding what's going on.
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Briefing
Who are the '47 percent'?
Half don't earn enough to pay federal income taxes; many pay other ways.
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Who are the 47 percent? 5 jobs held by people who pay no income tax.
Mitt Romney says 47 percent of Americans don't pay federal income taxes – and he was right. Half of that 47 percent are workers who hold jobs that don't pay enough for them to owe income taxes to Uncle Sam. What kinds of jobs are these?
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The Paul Ryan budget: 5 go-to sources for understanding it
Looking for in-depth analysis of the Paul Ryan budget plan? D.C. Decoder has compiled a list of excellent sources to help you sort out truth from fiction.
All Content
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Tax VOX Will 'Obamacare' add to the deficit?
One study predicts health care reform would add billions to the deficit, while another predicts just the opposite. Which is right?
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Tax VOX How big are tax preferences? Try $1.3 trillion.
The tax code is chock full of credits, deductions, deferrals, exclusions, exemptions, and preferential rates that, taken together, total almost $1.3 trillion per year. But that money isn't necessarily available simply through tax reform.
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Tax VOX Myth buster: There is no health care tax on most home sales
It is the unfounded rumor that never dies: You will have to pay a 3.8 percent federal health care tax on the sale of your house. For all but a handful of taxpayers, this is not true.
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Tax VOX How will the Supreme Court's health-care ruling affect taxes?
Obama's leath-care reforms include both tax increases and tax cuts. Even if the controversial individual mandate is struck down, most of those tax changes would survive—unless, of course, the High Court kills the entire act.
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Tax VOX Low-income households would shoulder Ryan's tax burden
The budget Paul Ryan released last week is, essentially, an effort to have low- and middle-class households bear the entire burden of closing the fiscal gap and bear the costs of financing an additional tax cut for high income households.
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Tax VOX The federal government spends a lot more money than you think
'Federal spending' figures are not reliable markers. In reality, the federal government spends about 30 percent more than it admits.
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Tax VOX Shocker: Paul Ryan's budget means more big tax cuts for the rich.
The tax cuts in Paul Ryan’s 2013 budget plan would result in huge benefits for high-income people and very modest—or no— benefits for low income working households. No surprise here.
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Tax VOX Will Obama's budget raise or lower taxes? Both.
Republicans call Obama an unrepentant tax raiser. The president calls himself a responsible tax cutter who only raises taxes on the rich. Both sides have a point.
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Tax VOX Ryan's mystery meat budget
House Budget Committee Chairman Paul Ryan (R-WI) released a fiscal plan that promises trillions of dollars in tax cuts and a nearly balanced budget within a decade, but never says how he'd get there.
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Tax VOX We already have a 'Buffett rule' in the tax code
The alternative minimum tax (AMT) makes sure that high-income citizens may at least a minimum of income tax. It adds enormous complexity to the tax code and increasingly burdens middle-class families, but it would be costly and difficult to replace.
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Tax VOX Not all taxes on the rich are created equal
Some political leaders and commentators are showing a growing interest in raising taxes on the rich. But the ideas on the table would have very different results.
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Tax VOX Two good books on tax reform
If you want a good read on individual or corporate tax refprm, pick up one of these new titles.
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Tax VOX How will Romney account for billions of lost revenue?
Romney rolled out a new tax proposal after many Republicans blasted his initial plan as too cautious. His plans to cut income tax rates by 20 percent and eliminate the Alternative Minimum Tax sound appealing, but he offers no specifics on how he'll offset the billions in lost revenue.
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Tax VOX Romney's new tax cuts are a deficit nightmare
Romney wants to reduce individual tax rates by 20 percent across the board. Sounds good, but it would increase the deficit to the tune of $3 trillion.
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The New Economy How to raise taxes on millionaires without really trying
Forget the 'millionaire surtax.' The better way to tax millionaires is to broaden the tax base – and let all those Bush tax cuts expire.
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Economist Mom How to tax millionaires, the right way
When it comes to taxing the wealthiest Americans, some methods are better than others in leveling the playing field.
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Tax VOX The Buffet rule won't work in practice
According to the Buffett Rule the wealthy should pay at least as much tax as middle-income households. That sounds straightforward but it’s not.
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Tax VOX 102 percent tax rate? Really?
Is a 102 percent tax rate really possible? On taxable income, yes. On all income, no.
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Tax VOX What tax reform would mean at the state level
Congress could go a long way towards fixing the federal system without destroying state revenue codes—but only if reform is done carefully.
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Robert Reich The downward mobility of the American middle class.
January’s increase in hiring is good news, but most of the new jobs being created are in the lower-wage sectors of the economy. The middle class, meanwhile, is becoming poorer and poorer.
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Tax VOX What is a 'value-added tax' and what can it mean for the economy?
A well-designed Value-Added Tax, a national consumption levy that would tax household purchases of all goods and services, could simplify the tax code for most households and finance significant reductions in corporate and individual income tax rates without adding to the budget deficit.
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Tax VOX What GOP returns teach us about taxing the rich
The Romney and Gingrich returns tell us a lot about the way those with incomes of $1 million or more are taxed, and how they structure their lives to minimize taxes. But mostly, they tell us that all those who make $1 million-a-year are not alike. Most of them are surprisingly like the rest of us, only more so.
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Mitt Romney taxes show 'very high' charitable giving tied to Mormon church
Mitt Romney's tax returns reveal that he gives significant amounts of money to charity, partially because of his ties to the Mormon church, whose members are expected to tithe 10 percent.
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Romney tax return shows he paid $3 million. His tax plan wouldn't bump that.
The wealthy GOP presidential candidate paid about 14 percent of his income in taxes in 2010, the Romney tax return shows. That's a lower rate than most middle-class Americans pay. Under Romney's tax reform plan, his tax bite would not change.
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Mitt Romney to release his taxes: beyond the obvious ($$), six things we can learn
Mitt Romney is releasing his 2010 tax returns and estimated 2011 taxes on Tuesday, providing information on his income, deductions, and how the wealthiest Americans navigate the system.
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