Topic: Tax Policy Center

Tax VOX Will Max Baucus retirement help tax reform? Don't count on it.

Some believe the retirement of Senate Finance Committee Chairman Max Baucus will increase the likelihood of tax reform, but Gleckman argues his retirement may not result in a tax code rewrite.

Tax VOX Taxes: Who would pay more under Obama budget?

President Obama's 2014 budget would taxes on the highest-income American households, Gleckman writes, but middle-income households would also pay slightly more in taxes than under today’s law.

Decoder Wire Obama's tax rate is 18.4 percent. Is that too low for a millionaire?

The release of President Obama's tax returns last week showed that his tax rate has gone down. Of course, his income went down and he gave a lot to charity, but critics are still chirping. 

Energy Voices Obama budget boosts 'green energy,' but no olive branch to GOP

President Obama's budget calls for increased investing in clean-energy technology and the ending of tax preferences for the oil and gas industry. The 2014 budget proposal is in line with the president's 'all-of-the-above' energy policy, but does little to reach across the aisle.

Tax VOX How much will payroll tax hikes cost you?

Higher payroll taxes will take $115 billion out of workers’ pockets this year and cut consumer spending, according to the Tax Policy Center. 

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.

Tax VOX Low home prices: Time to reform the mortgage tax subsidy?

With both interest rates and prices so low, this could be the ideal time to redesign the tax subsidy for home ownership, Gleckman writes. That goes against many who say that the housing market remains so shaky that ending the deduction would send home prices back into a tailspin.

Paul Ryan's tax numbers: Just 'magic asterisks'? (+video)

Paul Ryan's proposed budget envisions lower and simpler tax brackets even as it projects tax revenues as a higher percentage of GDP. Some suggest he'll need magic as well as math to get there.

Tax VOX How should the government measure inflation?

Republicans and many economists argue for shifting to a more accurate inflation measure, Gleckman writes, but a new report suggests that move would raise taxes by nearly as much as it would slow Social Security spending over the next decade.

Tax VOX Financial aid: finding better ways to help college students

There are many ideas for improving federal assistance for low-income college students, Rueben writes, including better targeting of higher education tax credits.

Tax VOX Welfare, subsidies, and tax credits: words that shape the deficit debate

In much public discourse, direct government aid for the poor is easily dismissed by the pejorative “welfare,” Gleckman writes, but spending-like subsidies administered through the revenue code provoke far less outrage.

Tax VOX How to simplify the tax code in 2013

Making the tax code less complicated and more efficient may not achieve the rate-cutting, base-broadening reform many want, Gleckman writes, but it can have important consequences for real people.

Tax VOX Bowles-Simpson II: a new plan to avoid the sequester

The Bowles-Simpson framework seems a plausible alternative to the current game of sequester-and-gridlock, Gleckman writes.

Tax VOX Valentine's Day 2013: love and taxes after the 'fiscal cliff'

Just in time for Valentine’s Day, the Tax Policy Center has updated its marriage bonus and penalty calculator to reflect the provisions of the American Taxpayer Relief Act of 2012. Williams discusses three tax provisions that will increase marriage penalties a lot in 2013 for many high-income couples.

Tax VOX Can the income tax fund the government we want?

The income tax’s ever-narrowing base simply cannot support the nation’s spending demands, Gleckman writes.

Tax VOX The drawbacks of using states as tax-reform laboratories

With Washington apparently stuck in gear on taxes, it may be tempting to see the states as leading a way to reform, Gordon writes, but the idea of states as laboratories for federal tax reform is fundamentally flawed. 

Will your state taxes go up? How legislatures are leaning.

As red states get redder and blue states bluer, state taxes could head in opposite directions. Some states are trying to eliminate income taxes, others are raising them.

Tax VOX What you should know about the Earned Income Tax Credit

The IRS marks Earned Income Tax Awareness Day Friday. Given the value of the Earned Income Tax Credit, it is important to remind low-income families that it is a big reason why they should file a tax return, Maag writes.

Tax VOX What the 'fiscal cliff' deal really means for taxes and spending

The "fiscal cliff" deal tells two important stories – Gleckman writes – one about budget policy and the other about budget politics. 

'Fiscal cliff' deal: What will it mean for you?

Some aspects of the fiscal cliff deal are well-known – such as rising tax rates on the rich. But, actually, everyone will be paying more taxes. Here's a look at the deal's details.

Fiscal deal will cost you: 8 tax changes

Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.

Tax VOX Why we need a better corporate income tax

The current US corporate income tax in effect imposes a fee on companies that are publicly traded. The tax is neither efficient nor progressive.

Tax VOX Fiscal cliff could impact low-income families the most

The fiscal cliff debate thus far leaves the most vulnerable families quite close to the edge, Maag writes.

Tax VOX What changing the consumer price index would mean for taxpayers

Tax VOX Fiscal cliff talks stall. Middle class tax bill won't help.

Fiscal cliff talks are at an impasse, and there has been talk that House Republicans will pass the Middle Class Tax Cut Act approved by the Senate last summer. It's a problematic and ineffective idea.