Tag: ‘Barack Obama’

Could a Carbon Tax Prevent The Catastrophic Consequences of Climate Change That Obama Fears?

By :: September 1st, 2015

In recent days, President Obama has painted the risks of climate change in apocalyptic terms.  Speaking in Anchorage, AK on Monday, Obama warned that without quick action to slow or reverse global warming, “entire nations will find themselves under severe, severe problems: More drought. More floods. Rising sea levels. Greater migration. More refugees. More scarcity. […]

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Clinton Would Tinker With, Not Rewrite, the Tax Code

By :: August 11th, 2015

While many Republican presidential candidates are promoting their versions of broad-based tax reform, Democratic frontrunner Hillary Clinton so far seems disinterested in fundamentally restructuring the code. Instead, she’d retain the framework of the current tax law, while tweaking the code to encourage–or discourage–certain activities. In the past few weeks, in different ways, she’s begun to describe […]

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Hillary Clinton Outlines Her Play-It-Safe Tax Agenda

By :: July 13th, 2015

In what her campaign billed as a major economic policy speech today in New York, Democratic presidential frontrunner Hillary Clinton outlined her agenda for what she described as a Growth and Fairness Economy. And while she included a number of tax proposals, few were new. Indeed, the speech was most striking for being so conventional. […]

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Obama-Era Tax Reform: RIP

By :: June 8th, 2015

If you still thought there was any chance Congress would pass tax reform before the next election, you can officially abandon hope. In an online interview published Sunday on Morning Consult, Senate Majority Leader Mitch McConnell (R-KY) hammered the last nail in the coffin. Asked about his priorities for the rest of the year, McConnell replied, “We’re […]

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A Small But Important Change in Retirement Savings Rules

By :: April 27th, 2015

Earlier this year, the Obama Administration proposed a small and almost unnoticed change in retirement savings rules that could be a big help to middle-income seniors who want to preserve assets to pay for medical and long-term care costs in very old age. The proposal would exempt those who have $100,000 or less in retirement […]

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If Wishes Were Taxes, Reformers Would Smile

By :: March 9th, 2015

Everything could come up roses for Rubio and Lee. At least one version of dynamic scoring—accounting for macroeconomic effects of a proposal—has produced some rather glowing estimates of senators Marco Rubio’s and Mike Lee’s tax plan. The Tax Foundation says the Rubio-Lee plan would increase tax revenues by about $94 billion-a-year versus a cost of […]

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The President’s Capital Gains Proposals: An Opening for Business Tax Reform?

By :: February 6th, 2015

In his budget proposal, President Obama would raise capital gains taxes as a way to finance middle class tax relief. Along with many Republicans, he also supports tax rate cuts for business and efforts to prevent multinational corporations from avoiding U. S. taxation. This raises an intriguing possibility. Why not pay for at least some […]

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Do Obama’s Corporate Tax Proposals Add Up?

By :: February 4th, 2015

The tax proposals in President Obama’s 2016 budget combine two interesting ideas for international reform with his often-stated–but still vague– goal of a broad-based corporate tax overhaul. First, the framework: Obama has once again proposed cutting the corporate tax rate to 28 percent from the current 35 percent, with a special 25 percent rate for […]

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Digging Deeper into the President’s “Middle Class Economics” Plan

By :: February 2nd, 2015

An analysis lays a foundation for debate. The TPC has a new paper on the distributional effects of the President’s tax proposals. His tax cuts primarily benefit low-income single workers and families with children. Households with very high incomes and substantial capital assets would pay more. A reaction offers some explanation. TPC’s estimates show that, […]

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Obama's Failure to Kill 529 Plans May Say Less About Tax Reform Than You Think

By :: January 30th, 2015

After President Obama proposed, and rapidly abandoned, a plan to curb the tax advantages of Sec. 529 college savings accounts, several wise observers, including my friend David Wessel at Brookings, saw an object lesson for broad-based tax reform. To wit: If lawmakers can’t ditch a single $1 billion tax break, how could they possibly agree to […]

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