Posts Tagged ‘Mitt Romney’

The Small, Happy World of Supersized IRAs

When Mitt Romney released his tax return information during the 2012 presidential campaign, many of us were introduced to the world of supersized IRAs. Romney somehow had a tax-preferred retirement nest egg valued at $101 million. Maybe he got there by making standard annual contributions and investing really well. Or not. Now, a new Government […]

Dave Camp’s Most Valuable Contribution to Tax Reform

House Ways & Means Committee chair Dave Camp’s most important contribution to the tax reform debate may be this: By proposing a specific, transparent, and fully-realized reform plan, he has made it far tougher for others to credibly promise trillions of dollars in tax cuts without either describing how they’d pay for them or acknowledging […]

Not All Curbs on Tax Preferences Are Created Equal

Because politicians seem unwilling to confront specific individual tax preferences, it is likely that any broad-based tax reform will be based on across-the-board curbs on deductions, credits, and exclusions. That’s how lawmakers could generate the revenue they need to reduce tax rates and (perhaps) help reduce the deficit without seeming to tackle popular tax subsidies […]

TaxVox’s 2012 Lump of Coal Awards

TaxVox proudly presents its 2012 Lump of Coal awards, Thelma and Louise edition, for the worst fiscal policy ideas of the year. The winners are: 10. California. The Golden State probably deserves a lifetime achievement Lump of Coal Award for its inability to balance its budgets, its government-by-initiative, and its endless bouts of fiscal wishful […]

Paying Taxes on Capital Gains Early: How Investors are Avoiding Tax Hikes

Normally, at the end of each year, investors sell stock (and other assets) to recognize losses to offset gains recognized earlier in the year. Sometimes they do it the other way around, harvesting gains that can be offset by earlier losses. But this year is different: many investors are recognizing gains, even if they don’t […]

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 Mitt Romney’s Tax Plan?

With the presidential campaign finally reaching a soggy finish, TaxVox is taking a final pre-election look at the tax policies of Barack Obama and Mitt Romney. Last week, we described Obama’s tax policy platform. Here is a rundown of Mitt Romney’s tax agenda. The elevator speech: Romney favors multiple tax cuts for individuals and would reduce […]

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 […]