In his State of the Union speech, President Obama’s called for a new law that would require high-income people to pay at least 30 percent of their income in taxes. In response, Senator Sheldon Whitehouse (D-RI) and Representative Tammy Baldwin (D-WI) have introduced the Paying a Fair Share Act of 2012, a proposal designed to [...]

With congressional deficit reduction efforts largely collapsed, the question remains: What are we going to do about the nation’s long-term budget mess? Since any realistic deficit reduction plan will require significant new revenues, is a Value-Added Tax a sensible way for government to raise those extra dollars? In an effort to find out, the Pew [...]

Taxpayers who took the 2008 tax credit for new homebuyers were unhappy when Congress made the credit much more generous in 2009. People who bought homes in 2008 have to repay the $7,500 credit over 15 years. Those who bought in 2009 or 2010 don’t have to pay their credits back. It turns out that [...]