One study predicts health care reform would add billions to the deficit, while another predicts just the opposite. Which is right?
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.
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.
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.
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.
'Federal spending' figures are not reliable markers. In reality, the federal government spends about 30 percent more than it admits.
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.
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.
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.
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.