Tag: ‘tax cuts’

To Collect Money You Have to Have Money

By :: February 25th, 2015

High-income households can worry even less about being audited this year. Last year, the IRS audited just 7.5 percent of households earning more than $1 million in 2013. That’s the lowest share since 2009. Its overall individual audit rate was 0.86 percent, the lowest  since 2004. The IRS budget has been cut by $1.2 billion […]

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Will Tax Reforming Be Forgot and Never Brought to Mind?

By :: December 29th, 2014

Congress is adjourned. The Daily Deduction will appear Mondays until it reconvenes. Could Dave Camp’s proposal and the corporate inversion debate prompt tax reform in 2015? TPC’s Bill Gale considers how they might shape developments in 2015. “Camp’s proposal provides the means to think seriously about tax reform. The inversion debate offers a reminder of […]

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Magical Thinking on Tax Reform

By :: December 18th, 2014

Everybody loves the idea of tax reform. And tax reform can be very good policy. But advocates often turn to magical thinking about how good tax reform can be, and a recent column by George Will offers two examples of this problem. First, Will writes that “if America’s long-term economic growth [rate] were 3.5 percent, […]

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Get the Fiscal House in Order

By :: November 20th, 2014

The Cato Institute has organized an online forum to debate pro-growth economic policy reforms. Tax Policy Center scholars Bill Gale, Donald Marron, and Eric Toder have each contributed to the discussion. As policy makers search for ways to raise economic growth and improve the living standards of future generations, a major priority should be to get […]

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Ryan and Lew Both Object to JCT Scoring of Future Tax Reform

By :: October 9th, 2014

Like a couple of baseball managers working the umpires before a big World Series game, Treasury Secretary Jack Lew and Representative Paul Ryan (R-WI), who wants to be the next chair of the House Ways & Means Committee, are looking to change the way Congress scores tax reform even before Congress begins a rewrite. Ryan […]

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Pressure, Power, and a New View on Cuts

By :: September 29th, 2014

Congress is in recess through the mid-term elections. Read the Daily Deduction each Monday until then.  Apple’s new products might not bend, but its tax deals are under some pressure. Later today, the European Union’s European Commission is expected to release its opening decision on Apple’s 1991 and 2007 deals with the Irish government: They […]

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Don’t Count on Much Economic Growth From Individual Tax Reform…Or From Tax Rate Cuts

By :: September 10th, 2014

Can individual income tax reform that cuts rates and eliminates subsidies increase economic growth? How about tax cuts by themselves? The answer is: Maybe, but not by much, according to a new paper by the Tax Policy Center’s Bill Gale and Andrew Samwick, director of The Nelson A. Rockefeller Center for Public Policy and Social […]

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Field of Tax Dreams: Budgets, Taxes, and Takeovers

By :: July 16th, 2014

If you cut it, will it do more? The IRS budget has been cut by $1 billion over the past four years, with a subsequent loss of 10,000 IRS jobs. Late Monday night, the House GOP by voice vote voted to cut $1.14 billion for the next fiscal year, or 13 percent below last year’s budget. […]

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What’s The Matter With Kansas And Its Tax Cuts? It Can’t Do Math

By :: July 15th, 2014

Kansas Governor Sam Brownback and his state legislature have embarked on a wonderful natural experiment. Once again we are testing the question: Can tax cuts pay for themselves? The answer– yet again– is a resounding no. We’ve tried this experiment time and again. And tax cut proponents such as economist Art Laffer continue to insist they […]

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Highways, Pensions, Deficits and Reform: A Long and Winding Road

By :: June 27th, 2014

“Are we there yet?” It’s just a little (or a lot) further for the federal Highway Trust Fund. Congress just left for a week-long recess, leaving the Highway Trust Fund nearly empty. The Senate Finance Committee didn’t support Chairman Ron Wyden’s $9 billion tax-raising patch, in spite of Wyden’s willingness to drop some tax increases. […]

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