Archive for the ‘2013 American Tax Relief Act’ Category

If You Have High Income, Your Taxes Are Going Up

As the April 15 deadline for filing 2013 income taxes nears, most of us are finding that Uncle Sam will take about the same share of our income as last year. But the story is very different for people at the top of the income ladder. Their taxes are going up, in many cases by […]

“Common Sense” Aside, What Do We Really Know About Capital Income Taxes and Growth?

If you’re discussing tax policy with someone who asserts that his or her point is “just common sense,” this could indicate one of two things: Either no deep thought is required—as the person would have you believe. Or no deep thought has been applied. The “common sense” notion that capital income taxes hinder growth seems […]

Taxes and Paul Ryan’s Budget

House Budget Committee Chair Paul Ryan (R-WI) has proposed a controversial  plan to balance the budget in 10 years, entirely by cutting planned spending by $4.6 trillion. While Ryan includes lots of specific spending cuts, his tax agenda is far less clear.    In some respects, the former GOP vice presidential candidate mimics the tactics […]

Can the Income Tax Fund the Government We Want?

Can the income tax fund the government we seem to want? Probably not. Will lawmakers create a revenue system that will? Not anytime soon. That was the consensus of four tax policy experts at an Urban Institute panel I moderated this afternoon. The panelists–historian Joe Thorndike, Urban Institute economist and tax reform veteran Gene Steuerle, […]

Payroll Tax Cuts May Boost the Economy More than You Think

Just as Congress allowed the 2011-12 payroll tax cut to expire, new research by the Federal Reserve Bank of New York suggests that such tax breaks may significantly boost consumer spending. As a result, raising workers’ take-home pay this way might play a bigger role than many thought in reversing economic slumps. The study by […]

What the Fiscal Cliff Deal Means for the States

The fiscal cliff deal is done and the question on everyone’s mind: What about the states?  Okay, so only a handful of us are actually asking this question. But there are some important provisions that will matter to states still woozy from the Great Recession. The good news for states is that American Tax Relief […]

The Fiscal Cliff Deal in One Picture

 The 2013 American Tax Relief Act (aka ATRA or the fiscal cliff deal) is a big complicated law. But here is one chart that pretty much tells the story. The tale, based on Tax Policy Center analysis of the new law, comes in three chapters: First, this whole debate was always about much more than […]