Tag: ‘tax reform’

Plans, Expectations, and Avoidance

By :: July 14th, 2015

An outline of a safe plan: No sharp edges. Democratic presidential candidate Hillary Clinton shared her tax agenda yesterday, but as Howard Gleckman notes, most of her proposals are familiar, including a Buffett tax on very-high income households and small business tax relief. She did not endorse broad-based tax reform, or even a carbon tax. […]

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Finance Committee Working Groups: Tax Reform is Hard

By :: July 8th, 2015

After six months and two extensions, the Senate Finance Committee’s five tax reform working groups presented their reports today to panel chair Orrin Hatch (R-UT) and top Democrat Ron Wyden (D-OR). For the most part, they reached no consensus on either specific reforms or a broad design for overall reform. There was one exception: The […]

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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 […]

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The Uneasy Case for a Financial Transaction Tax

By :: June 30th, 2015

In recent years, there has been a resurgence of interest in an old idea—a financial transaction tax, or FTT. In a new paper, The Tax Policy Center has taken an in-depth look at the pros and cons of the levy. We’ve found that even a modest tax would raise a lot of money, and that […]

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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 […]

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Does Saying “No Chance” Increase the Chances of Reform?

By :: June 10th, 2015

The House votes to ban taxes on Internet access. Again. But senators still want to link the prohibition to a separate measure that would clarify the ability of states to require online sellers to collect sales taxes. Like that little icon you get when your computer is stuck: The two issues just keep on spinning. […]

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It depends on what your definition of “pledge” is…

By :: June 9th, 2015

WWND: Louisiana lawmakers ask Grover Norquist to weigh in on Governor Bobby Jindal’s tax plan. Eleven members of the state’s House sent a letter to the head of Americans for Tax Reform. They call the SAVE tax credit—Jindal’s proposed  tax credit for a non-existent student fee—a precedent that would let lawmakers “raise taxes on a […]

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Obama-Era Tax Reform: RIP

By :: June 8th, 2015

If you still thought there was any chance Congress would pass tax reform before the next election, you can officially abandon hope. In an online interview published Sunday on Morning Consult, Senate Majority Leader Mitch McConnell (R-KY) hammered the last nail in the coffin. Asked about his priorities for the rest of the year, McConnell replied, “We’re […]

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The Trouble with the FairTax

By :: May 27th, 2015

GOP Presidential candidate Mike Huckabee recently got into a spirited debate with Fox News anchor Chris Wallace about Huckabee’s  proposal to replace all federal taxes with a national retail sales tax, called the FairTax by its supporters.  Wallace pointed out that low-income people spend a much larger share of their income than high-income folks and […]

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Are GOP Presidential Candidates Downplaying Tax Cuts Or Hiding The Ball?

By :: May 19th, 2015

Last week, I blogged on the many GOP presidential candidates who are talking about tax reform rather than tax cuts. This week, tax historian Joe Thorndike published a rebuttal on the Tax Analysts blog and on Forbes.com. Joe, who is very much in the watch-what-they-do-not what-they-say (WWTDNWTS) camp, noted that while few GOP presidential hopefuls […]

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