Posts Tagged ‘taxes’

Who Won the Election Again?

Pardon me for being confused. Two weeks ago, voters turned the Senate and several state houses over to Republicans and increased the GOP majority in the House. Now, in a new Wall Street Journal-NBC News poll, (firewall) Americans have firmly embraced—a Democratic agenda. They want more government spending on roads and Ebola, They want to […]

Get the Fiscal House in Order

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 […]

The Day After the 2014 Election: Six Things To Watch In the New GOP Congress

Republicans had a very good day yesterday. But can they translate their ballot-box success into a positive legislative agenda? It won’t be easy but here are six clues: Mitch McConnell: He is a brilliant legislative tactician. We know he’ll use those skills to try to outmaneuver Democratic Leader Harry Reid but will he also use […]

Reporting, Responding, and Partnerships

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then.  Stranger than fiction: The IRS, “structuring,” and asset seizures. A business’ cash deposits, if under $10,000, do not trigger a government reporting requirement. But that could look like “structuring” to the IRS: Keeping cash deposits low specifically to […]

A Tale of Three Agendas: Obama, Camp, and Ryan

Over the past week, three senior Washington lawmakers released foundational documents that describe both their agendas and their perspectives on government. On one level, they paint vastly different pictures. Yet, a close reading also pinpoints some surprising and important areas of agreement—more perhaps than the players would publicly admit. President Obama’s fiscal year 2015 budget […]

Where Are Tax Rates Headed?

Effective tax rates have been rising since 2009 and will continue to rise for a few more years before they flatten out, according to Tax Policy Center projections. My TaxVox post earlier this week showed how average federal tax rates have changed over the past three decades. But that was based on a 30-year history […]

Budget Deal Doesn’t Raise Taxes But Many Will Still Pay More

The budget deal announced Tuesday wouldn’t raise taxes—members of Congress can vote for it without violating their no-tax pledges. But the plan will collect billions of dollars in new revenue by boosting fees and increasing workers’ contributions to the Federal Employee Retirement System (FERS). To people paying them, those higher fees and payments will feel […]

CBO Finds Growing U.S. Income Inequality

Just as President Obama was decrying our nation’s rising income inequality, the Congressional Budget Office provided him with some new ammunition. CBO’s latest report on household income and taxes—which goes only through 2010—shows that the rich have indeed gotten richer. (Full disclosure: In my former life at CBO, I helped assemble these income and tax […]

Latest House Debt Limit Plan Will Accomplish Nothing

Washington may be about to do what it does best–kick the can down the road. House Republicans have tentatively agreed on a plan to extend the debt limit for about six weeks while keeping the government partially shuttered. Their idea: use the shutdown as a stick to get Democrats to negotiate over “pressing problems,” including more […]

Could the GOP Boost Tax Reform By Adding the Idea to the Debt Limit?

House Republicans reportedly are considering several ways to add a framework for tax reform to legislation needed to increase the federal government’s borrowing authority. Could such a rider increase the chances of reform happening in the near future? Sadly, no. Indeed, it is likely to bury a tax code rewrite even more deeply in Washington’s […]