Tag: ‘Obama’

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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Why Romney and Obama Pay the Taxes They Pay

By :: April 26th, 2012

By now, many readers of TaxVox know how much Barack Obama and Mitt Romney pay in taxes. But true tax wonks are more interested in why the candidates paid what they paid. A new infographic from the Tax Policy Center tells that story. The interactive display of the president’s and Romney’s (preliminary) 2011 tax returns […]

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Will Obama’s 2013 Budget Raise or Lower Taxes? Yes.

By :: March 21st, 2012

Republicans like to say President Obama is a chronic, unrepentant tax-raiser. Obama himself used to say he was a tax-cutter but now touts himself as a fiscally responsible steward of the budget who would raise taxes—but only on the rich. Who is right? The Tax Policy Center has just completed its analysis of tax proposals […]

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Playing Favorites in the Corporate Tax Code

By :: February 24th, 2012

The President’s new Framework for Business Tax Reform is two documents in one. The first diagnoses the many flaws in America’s business tax system, and the second offers a framework for fixing them. Much of the resulting commentary has focused on the policy recommendations. But I’d like to give a shout out to the diagnosis. […]

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President’s 2013 Budget Would Enable Almost All Americans to Save for Retirement

By :: February 16th, 2012

The new 2013 budget unveiled by President Obama on Monday again contains the Automatic IRA, which was developed by Brookings’ Retirement Security Project in conjunction with The Heritage Foundation. This year’s  version includes an important change that will also encourage more employers to offer a 401(k) account to their workers. However, important changes to the […]

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Raising Revenue in a Progressive Manner Without Raising Tax Rates

By :: February 14th, 2012

Amidst the myriad proposals in President Obama’s budget are two “big ideas” that would raise revenue in a progressive manner without raising taxes. These important ideas should be emphasized in the discussion of tax and fiscal reform that the country should be having and will have to have sooner or later.  (The President also proposes […]

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102% Tax Rate? Really?

By :: February 8th, 2012

Investment manager James Ross last week told New York Times columnist James Stewart that his combined federal, state, and local tax rate was 102 percent.  No doubt, Ross did pay a lot of tax to the feds and the two New Yorks, city and state. But did he really pay more than all of his […]

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How Congress Can Cap Tax Breaks

By :: August 11th, 2011

Sooner or later, Congress will realize it needs new revenues to help balance the budget, and trimming tax subsidies is the way to get them.  But will it tackle individual preferences, such as the mortgage interest deduction, one at a time? Or, will it try to limit the political bloodshed and go after these tax […]

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Do We Need an Election to Fix the Deficit?

By :: May 17th, 2011

I spent this morning at one of those Washington institutions: the budget roundtable. Today’s (at the Aspen Institute) gave me a chance to pose a question in exchange for my muffin:  Should Washington await the results of the 2012 election before reaching a cosmic budget agreement? It will, of course. The odds that President Obama […]

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Who Pays No Income Tax? It is the Wrong Question

By :: May 5th, 2011

Would you rather get a tax cut of $1,000 or $1.4 million?  I thought so.   Would you change your answer if taking the smaller tax cut allowed you to avoid paying income tax entirely? That is exactly the focus of the endless squabble over the half of American households who pay no federal income […]

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