Tag: ‘Tax Policy Center’

Could a Carbon Tax Prevent The Catastrophic Consequences of Climate Change That Obama Fears?

By :: September 1st, 2015

In recent days, President Obama has painted the risks of climate change in apocalyptic terms.  Speaking in Anchorage, AK on Monday, Obama warned that without quick action to slow or reverse global warming, “entire nations will find themselves under severe, severe problems: More drought. More floods. Rising sea levels. Greater migration. More refugees. More scarcity. […]

Read More

How Did the Gas Tax Lose Its Mojo, Even Among Conservatives?

By :: July 27th, 2015

With just a few days left before federal funding for highway programs expires, the Senate is debating all sorts of amendments to an extension– from export subsidies to the Affordable Care Act. But there is one subject it will not debate—the gas tax. Except for a handful of lawmakers, nobody in Congress or the White House […]

Read More

Who Benefits Most From Repealing the ACA Cadillac Tax?

By :: July 23rd, 2015

Republicans and some Democrats in Congress are pressing to repeal the Affordable Care Act’s Cadillac tax—a 40 percent excise tax on high-cost employer-sponsored health insurance plans. Backers of repeal argue that curbs on these generous plans would disproportionately hurt low- and middle-income workers. But a new Tax Policy Center analysis shows that story is overstated. In […]

Read More

Who Benefits the Most from an Across-the-Board Cut in Individual Tax Rates?

By :: July 2nd, 2015

Just about every tax reform plan calls for cutting individual tax rates. But it turns out that a one percentage point across-the-board rate cut would benefit only about six out of 10 households. The biggest beneficiaries:  those with the highest incomes. According to a new Tax Policy Center analysis, such a rate cut would add […]

Read More

Rand Paul’s Tax Cut Isn't Quite What It Seems

By :: June 18th, 2015

Unlike those GOP presidential hopefuls who say their tax reforms would raise the same amount of money as the current tax code, even when their actual proposals would not, Senator Rand Paul isn’t being shy. He’s promising a great big fat tax cut (described in this Wall Street Journal  column). And more than that, he’s […]

Read More

How Many Americans Get Government Assistance? All of Us

By :: June 4th, 2015

The other day, the Census Bureau put out a new report that concluded about one-in-five Americans received government benefits in 2012. But the study, called Dynamics of Economic Well-Being: Participation in Government Programs, 2009–2012: Who Gets Assistance, takes a far too narrow view about who gets the help. A more accurate estimate of the share of Americans […]

Read More

What’s Up With the No Climate Tax Pledge?

By :: June 2nd, 2015

Do you know about the No Climate Tax pledge? I didn’t until I read a column over the weekend by the Washington Post’s always-interesting Catherine Rampell. The vow is sponsored by Americans for Prosperity, a conservative political advocacy group closely associated with the Koch brothers. And it was something of a big deal a couple […]

Read More

The Perpetual, Immortal, Eternal, Never-Ending Tax Extenders

By :: May 28th, 2015

The magic number for today is 16. That is, remarkably, the number of times Congress has extended the allegedly temporary research and experimentation tax credit since it was first enacted in 1981.  The question for philosophy class (this is far beyond economics) is this: Can something that has been extended 16 times over 33 years […]

Read More

Marco Rubio Wasn't the Only One Who Cashed Out an IRA Last Year

By :: May 26th, 2015

It is easy to mock Senator Marco Rubio, who cashed out $68,241 in IRA retirement funds last September. The GOP presidential hopeful, who made about $230,000 last year, told Fox News he needed the dough to prepare for his campaign, buy a new $3,000 refrigerator, and fix his busted a/c. As it happens, he is far […]

Read More

The Scary New World of Tax Fraud

By :: May 14th, 2015

Back in the day—say 2011–tax fraud was pretty straightforward. Taxpayers deliberately understated income or overstated deductions to cheat the system for their own benefit. Not anymore. Now, a growing share of such fraud is about crooks using the identities of innocent taxpayers to steal money. If you have a home phone or an email account, these […]

Read More