Tag: ‘Obama’

To Build a Better Tax Code, You Could Follow the Money

By :: January 20th, 2015

Death and taxes: Inevitable, but not always paired. President Obama wants to change that. In a wide-ranging tax plan he’ll highlight at tonight’s State of the Union address, he’d close “arguably the biggest loophole in the tax code for high-wealth households,” says TPC’s Len Burman. Len explains the significance of the plan’s treatment of capital […]

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Can Obama slow corporate inversions? Yes he can.

By :: August 15th, 2014

Politicians can debate whether corporate tax inversions are “unpatriotic” or simply a legitimate technique to reduce taxes–and commentators can argue over whether anything should be done to stop them. Experts also disagree about whether President Obama and his Treasury Secretary have the legal authority to write new rules to discourage inversions. In my view, on this last […]

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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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CBO Finds Growing U.S. Income Inequality

By :: December 9th, 2013

Just as President Obama was decrying our nation’s rising income inequality, the Congressional Budget Office provided him with some new ammunition. CBO’s latest report on household income and taxes—which goes only through 2010—shows that the rich have indeed gotten richer. (Full disclosure: In my former life at CBO, I helped assemble these income and tax […]

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What Changes in the Mortgage Deduction Would Mean for Home Prices

By :: June 5th, 2013

Tax preferences for housing are under fire, with mounting evidence that these preferences are inefficient, unequal, and too expensive to warrant a place in the tax code. Critics of proposed changes in the tax treatment of home ownership argue that these reforms would slash home prices at the very time they are showing signs of […]

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What’s the Mix of Spending and Revenue in the President’s Deficit Reduction Proposal?

By :: April 12th, 2013

President Obama’s budget identifies a group of policies as a $1.8 trillion deficit reduction proposal. I found the budget presentation of this proposal somewhat confusing; in particular, it is difficult to see how much deficit reduction the president wants to do through spending cuts versus revenue increases. After some digging into the weeds, I pulled […]

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Taxing Millionaires: Obama’s Buffett Rule

By :: April 11th, 2013

From the start of his 2008 campaign, President Obama has called for raising taxes on the rich. He got much but not all that he wanted in the American Taxpayer Relief Act (ATRA) earlier this year. Now his FY2014 budget takes another couple of bites at that apple. The first repeats his proposal to cap […]

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TPC Tax Calculator Shows What Avoiding Fiscal Cliff Means for Taxpayers

By :: January 3rd, 2013

Following Congress’s last minute passage of legislation averting a plunge off the fiscal cliff, TPC has released a new Tax Calculator that lets users examine the effects of the American Taxpayer Relief Act of 2012 (ATRA). As with earlier versions, the new calculator compares income and payroll tax liabilities under alternative scenarios: ATRA, the tax […]

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TPC’s New Tax Calculator Examines Fiscal Cliff Options

By :: November 28th, 2012

As a lame-duck Congress once again faces an impending deadline for dealing with expiring tax cuts, TPC has released a new Tax Calculator to compare potential outcomes. We obviously don’t know what the outcome of negotiations between Congress and the White House will be but have modeled four possibilities: 2012 tax law (with an AMT […]

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