Tag: ‘Tax Policy Center’

What Are the Consequences of a Financial Transactions Tax?

By :: January 21st, 2016

All three Democratic presidential hopefuls, Hillary Clinton, Martin O’Malley, and Bernie Sanders, have proposed financial transactions taxes (FTTs). But could such a levy raise much money and reduce financial sector risk, as their supporters hope? Perhaps, according to a report by my Tax Policy Center colleagues. But if not carefully designed, the tax could do […]

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Bernie Sanders Is Proposing Really Big Tax Increases

By :: January 19th, 2016

It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing, how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year aimed mostly at high income […]

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Five Questions to Ask When You Look at a Presidential Candidate’s Tax Plan

By :: December 29th, 2015

I recently suggested that voters look seriously at the tax proposals being touted by presidential candidates, even though those plans have little chance of ever becoming law as proposed. But what should those voters look for as they sort through these complex ideas? Here are five questions you should ask yourself about any candidate’s tax […]

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Trump Would Slash Taxes for the Top 0.1 Percent By An Average of $1.3 Million, Add Nearly $10 Trillion to the Debt

By :: December 22nd, 2015

Donald Trump’s tax plan would add $9.5 trillion to the national debt from 2016 to 2026 and another $15 trillion in the following decade (before added interest), according to a new analysis by the Tax Policy Center. Nearly all households would get a tax cut under the plan, averaging about $5,100 in 2017. However, the […]

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The TaxVox Lump of Coal Awards for the Ten Worst Tax Ideas of 2015

By :: December 21st, 2015

It is time for TaxVox’s annual Lump of Coal awards for the worst tax ideas (or most depressing tax stories) of 2015. As always, choosing the Top 10 was not easy, but here they are: 10. The Michigan House. Lawmakers tried to pay for new transportation projects by eliminating the state’s earned income tax credit. […]

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Why You Should Pay Attention to the Presidential Candidates’ Tax Proposals

By :: December 15th, 2015

The presidential election is nearly a year away, but many candidates have already rolled out detailed tax reform plans. On the GOP side, we’ve seen proposals from Jeb Bush (the subject of a rigorous Tax Policy Center analysis ), Marco Rubio, Ted Cruz, and Donald Trump, among others. Among Democrats, Hillary Clinton and Bernie Sanders […]

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Bush’s Tax Plan Would Add $6.8 Trillion to the National Debt, Benefit High-Income Households

By :: December 8th, 2015

Jeb Bush’s tax plan would boost deficits by $6.8 trillion between 2016 and 2026 and overwhelmingly benefit the highest income taxpayers, according to a new analysis by the Tax Policy Center. With added interest costs, the plan would boost the national debt by more than $8 trillion by 2026. After two decades, TPC figures it would […]

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The GOP Debate: Squabbles Over Refundable Credits, Deductions, and Conservatisim

By :: November 11th, 2015

Last night’s GOP presidential debates (here’s a transcript of the main event) highlighted some important tax policy contrasts among the candidates. One thought refundable credits are conservative economic policy while another did not.  Nearly all would preserve deductions for mortgage interest and charitable gifts but one would ditch them. One worried about what his rivals’ […]

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Tax Reform Is Possible, But It Won’t be Easy

By :: November 4th, 2015

At a Tax Policy Center conference on tax reform yesterday, Jason Furman, the chair of the President’s Council of Economic Advisors, said that a major rewrite of the tax code would make little progress until Congress breaks the current impasse over the  treatment of pass-throughs– firms such as partnerships and S corporations whose owners pay […]

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Little Difference Between the Cadillac Tax and a Cap on the Tax Exclusion for Employer Health Plans

By :: October 22nd, 2015

In the face of widespread criticism of the Affordable Care Act’s excise tax on high-cost employer sponsored health insurance plans (the Cadillac Tax), some lawmakers have backed an alternative: a cap on the current tax exclusion for employer contributions to health insurance. To learn how the two ideas would differ, my colleagues at the Tax […]

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