Archive for the ‘Campaign 2012’ Category

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 […]

Five Challenges for Obama’s Tough Second-Term

Barack Obama has pulled off the easy part. He got re-elected. Now, he faces a second term full of painful choices. You could see it in his campaign, which focused more on Mitt Romney’s flaws than on what the president would do in the next four years. Much of this, I suspect, was the result […]

Which presidents spend the most? You might be surprised.

Part of the election debate is about who can be trusted to tame the debt.  Both candidates promise to be fiscally responsible and both provide maddeningly little detail on exactly how they would accomplish that.  They argue, with some reason, that election season is not the time to get into the hard choices that the […]

A Disappointing Presidential Campaign Comes to an End

With the U.S. facing huge domestic policy challenges, one might have hoped for a serious debate on fiscal issues between Barack Obama and Mitt Romney. One would have been deeply disappointed. Rather than framing what seem to be profoundly different views of government, the candidates chose to double-down on what Bill Clinton memorably called the […]

What Is Barack Obama’s Tax Plan?

After all the promises and finger-pointing, the presidential campaign is nearly over. But since the race has shed more heat than light on how each of the candidates would govern, I thought it would be useful to describe exactly what Barack Obama and Mitt Romney have pledged to do on tax policy if elected on […]

The Ten Biggest Differences between the Romney and Obama Tax Plans

When it comes to taxes, Mitt Romney and Barack Obama are almost perfect mirror images of one another. Here are ten ways their tax plans are different. Romney’s tax agenda is ambitious and opaque. Obama’s is modest but relatively transparent. Obama has shown little interest in broad-based tax reform. Romney wants to fundamentally rewrite the […]

Understanding TPC’s Analysis of Limiting Deductions

The Tax Policy Center’s new tables showing the revenue and distributional effects of capping itemized deductions have received a great deal of attention since we released them on Tuesday. Our results show that capping deductions can raise a large amount of revenue in a quite progressive manner. Capping deductions could thus be an important component […]

The Real Lesson About Capping Itemized Deductions

The Tax Policy Center is back in the political cauldron, this time in the wake of its new research that looks at the revenue and distributional effects of caps on itemized deductions. TPC’s aim was to analyze an interesting idea that could find its way into future tax reform plans. Its conclusion was a mix of good […]

Five Things You Should Know about Mitt Romney’s “$5 Trillion Tax Cut”

You’ve probably heard claims that Mitt Romney wants to cut taxes by $5 trillion. Here are five things you should know about that figure: 1. $5 trillion is the gross amount of tax cuts he has proposed, not the net impact of all his intended tax reforms. Governor Romney has been very specific about the […]

Can Romney Cut Taxes for the Rich Without Reducing Their Share of Taxes? Yes, but….

President Obama says Governor Romney will cut taxes for high-income households by $250,000. Romney counters that under his plan, the rich will pay the same share of taxes they do today. Who’s right? It all depends on what plan you are looking at and what you are measuring. The first problem is the two candidates […]