Topic: Obama Economic Policy

Are Accrued Capital Gains Income in the Year You Die?

By :: February 2nd, 2015

The Tax Policy Center’s tables showing the distribution of President Obama’s new income tax proposals indicate that some middle-class households would pay more tax than under current law. The Administration says they wouldn’t. The reason is that TPC and the White House disagree over what counts as income. The dispute centers on the President’s proposal […]

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A Repatriation Tax Holiday for US Multinationals? Four Contagious Illusions

By :: December 10th, 2014

U.S.-based multinationals hold $2.1 trillion in foreign cash and insist that the only way they can feasibly bring that money back home is if Congress grants them a tax holiday—an idea that even President Obama now appears to support. But the argument they (and the President) are making for a holiday is based on a […]

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Tax Reform: One Shining Moment or “Blah, Blah, Blah”

By :: November 5th, 2014

Given that prospects for tax reform were virtually nil before the election, the Republican recapture of the Senate has to have made prospects for tax reform better.  But I still have the strong sense that tax reform will be a tough slog in the next Congress. Let’s start on corporate side.  It is often noted […]

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How Progressive is Obama’s Tax Policy?

By :: July 23rd, 2014

Has President Obama’s tax policy reduced income inequality? It depends on what you are comparing it to. White House Council of Economic Advisors chief Jason Furman claims that President Obama’s tax policies have sharply reduced inequality. Today’s Washington Post Wonkblog featured some new tables from the Tax Policy Center that show Obama tax policy is […]

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State of the Union Speech Promotes New Retirement Savings Vehicles

By :: January 30th, 2014

In this year’s State of the Union Address, President Obama announced a new retirement savings account for workers whose employers do not offer any form of pension or savings plan. He also promoted the Automatic IRA, a retirement savings plan that originated at the Retirement Security Project and has been in the Administration’s budget for […]

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Obama’s New Corporate Tax Offer is Another Dead End

By :: July 30th, 2013

In a speech today in Chattanooga TN, President Obama made congressional Republicans an offer they could refuse. And they did.  By doing so, Obama may have quashed the last shred of hope that tax reform can happen before the 2014 congressional elections. In what the White House pitched as a new idea, Obama offered to […]

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High Income Households Would Pay Most—But Not All—of the New Taxes in Obama’s 2014 Budget

By :: April 22nd, 2013

The revenue proposals included in President Obama’s 2014 budget would, as intended, significantly raise taxes on the highest-income American households. However, despite Obama’s long-standing pledge to protect individuals making below $200,000 (and couples making $250,000 or less) from any tax hikes, even many of those families would pay slightly more than under today’s tax law. […]

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The President’s Plan to Cap Retirement Saving Benefits

By :: April 12th, 2013

The president’s FY 2014 Budget would limit tax benefits for workers with high-balance retirement saving accounts. Although critics call the plan a blow to workers’ retirement saving, I consider the plan a smart way to roll back the billions in tax breaks that go to investors who don’t need tax incentives to save for retirement. […]

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

By :: March 15th, 2013

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 […]

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Corporate Tax Reform is on Obama’s Agenda, But Can He Pull it Off?

By :: February 12th, 2013

In what will probably be the usual endless laundry list of State of the Union promises, President Obama is likely to include tax reform, by which he means a rewrite of the corporate revenue code. The White House seems ready to take a run at lowering corporate rates and scaling back targeted business subsidies. So […]

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