Despite evidence to the contrary, there is a lingering view that Mitt Romney’s tax plan would primarily help middle-income households and not favor the rich. Yet TPC’s analysis of the plan clearly showed that high-income households would win big and others would do less well. Poor families would actually lose, relative to the taxes they’re [...]

The least popular Congress in memory is back.  I, personally, am thrilled. After a year in which lawmakers did almost nothing besides (barely) keeping the government running, this session promises hardly more.  Tax policy will be at the center of much of the partisan squabbling, but it is hard to imagine Congress achieving more than a temporary [...]

As long as politicians keep squabbling about what to do about the Bush era tax cuts, we are doomed. There will be no serious deficit reduction. There will be no tax reform. There will be nothing but the same old partisan arguments. Don’t believe me? Just listen to the chatter coming out of the failed deficit [...]

Is the Congress’ deficit super committee making progress? That depends on your definition of progress, I suppose.   The good news is that Republicans are increasingly uttering the “t” word, suggesting they might be willing to include some tax increases in a deficit reduction plan. The other good news is that Democrats reportedly are getting more [...]

Senate Democratic Leader Harry Reid’s plan to fund a $445 billion stimulus, err, jobs bill with a 5.6 percent surtax on millionaires is not all bad. After all, Tax the Rich does make a nice campaign bumper-sticker. But it is mostly bad. Why? Here are five reasons. The idea, endorsed today by President Obama, would [...]

Conservatives like to say that President Obama has been responsible for massive tax increases.  It is wonderful rhetoric that plays to the big tax image Democrats have been saddled with for decades—sometimes with good reason. But for most households, this claim is the economic equivalent of the birther movement: It is as credible to call [...]

PolitiFact’s Lou Jacobson recently pointed me to a blog post by House Majority Leader Eric Cantor complaining that President Obama’s proposal to limit itemized deductions would hurt soup kitchens—and their poor clients—by inducing rich people to give less to charities. That may be true, but Cantor’s own ideas about cutting taxes would do the same [...]

Given Washington’s endless partisan nastiness—and thanks to some updated estimates by the Congressional Budget Office–it seems like a good time to revisit an old idea: What would happen if Congress and the White House just closed up shop for a couple of years and let fiscal policy run on autopilot? The question is not so [...]

In a couple of weeks, President Obama will ask Congress to extend this year’s payroll tax cut. It will surely become a classic Washington double-reverse rhetorical moment. I can’t wait to hear Obama lift some of House Speaker John Boehner’s (R-OH) best lines about the folly of raising taxes in the midst of an economic [...]

Every morning I read essentially the same story in my newspaper– the national debt has hit the legal limit, and unless the debt ceiling is raised (or razed, as Jared Bernstein and TPC director Donald Marron advocate), the government could start defaulting on its obligations. Obligations that the Congress passed, I like to point out. [...]