The charitable property tax exemption can have significant revenue implications for municipalities with large nonprofit sectors and heavy reliance on the property tax. Interest in policies to offset these revenue implications has grown because of the growth of the nonprofit sector in recent...
Realized income is a widely accepted measure of well-being. This paper examines the relationship between realized income and wealth and economic income, using a national sample of income tax returns matched with estate tax returns to compare the realized property income of individuals with the...
In a contribution to the Christian Science Monitor, Donald Marron agrees that there are good reasons for a simpler tax system, as found in the flat-tax plans of GOP hopefuls Perry, Gingrich, and Cain. But they need to be made more progressive to amount to real tax reform that can pass muster...
Two ways of reducing the deficit are imposing a broad VAT with a rebate to offset the burden on low-income households and increasing marginal income tax rates. The prototype VAT would impose a larger burden on low- and middle-income households than raising income tax rates and increase...
This brief attempts to access the trends in charitable giving and how the current economic turmoil has affected the nonprofit sector - the main topic of an August 2011 roundtable hosted by the Tax Policy and Charities project at the Urban Institute. Twenty-five experts on tax policy and the...
Eugene Steuerle testifies before the Senate Finance Committee on "Tax Reform Options: Incentives for Charitable Giving," presenting options on how to increase tax revenues with minimal impact or perhaps even an increase in charitable giving. Among other recommendations, he suggests a floor under...
In a contribution to the New York Times' Room for Debate, Roberton Williams suggests Congress scale back on tax subsidies in a way that protects America's hard-hit middle class.
The tax entry threshold is the income level at which a person begins paying federal income taxes. Unlike payroll taxes, income taxes do not start at the first dollar of earnings. Rather, the federal income tax system exempts an amount of income from taxation based on the type of tax unit (...
Currently, taxpayers can deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their primary residence or a second designated residence. In addition, taxpayers can deduct interest on up to $100,000 in home equity loans or other loans secured by their properties...
The Property Tax Exemption for Nonprofits and Revenue Implications for Cities
The charitable property tax exemption can have significant revenue implications for municipalities with large nonprofit sectors and heavy reliance on the property tax. Interest in policies to offset these revenue implications has grown because of the growth of the nonprofit sector in recent...
Wealth, Realized Income, and the Measure of Well-Being
Realized income is a widely accepted measure of well-being. This paper examines the relationship between realized income and wealth and economic income, using a national sample of income tax returns matched with estate tax returns to compare the realized property income of individuals with the...
Real Tax Reform: Flat-Tax Simplicity with a Progressive Twist
In a contribution to the Christian Science Monitor, Donald Marron agrees that there are good reasons for a simpler tax system, as found in the flat-tax plans of GOP hopefuls Perry, Gingrich, and Cain. But they need to be made more progressive to amount to real tax reform that can pass muster...
Using a VAT for Deficit Reduction
Two ways of reducing the deficit are imposing a broad VAT with a rebate to offset the burden on low-income households and increasing marginal income tax rates. The prototype VAT would impose a larger burden on low- and middle-income households than raising income tax rates and increase...
What's Been Happening to Charitable Giving Recently? A Look at the Data.
This brief attempts to access the trends in charitable giving and how the current economic turmoil has affected the nonprofit sector - the main topic of an August 2011 roundtable hosted by the Tax Policy and Charities project at the Urban Institute. Twenty-five experts on tax policy and the...
The Tax Treatment of Charities & Major Budget Reform
Eugene Steuerle testifies before the Senate Finance Committee on "Tax Reform Options: Incentives for Charitable Giving," presenting options on how to increase tax revenues with minimal impact or perhaps even an increase in charitable giving. Among other recommendations, he suggests a floor under...
Simple Tweak, Profound Effects
In a contribution to the New York Times' Room for Debate, Roberton Williams suggests Congress scale back on tax subsidies in a way that protects America's hard-hit middle class.
Tax Reform Options: Marginal Rates on High-Income Taxpayers, Capital Gains, and Dividends
Leonard Burman's testimony before the Senate Committee on Finance on tax reform options affecting high-income taxpayers.
Poverty and Income Tax Entry Threshold
The tax entry threshold is the income level at which a person begins paying federal income taxes. Unlike payroll taxes, income taxes do not start at the first dollar of earnings. Rather, the federal income tax system exempts an amount of income from taxation based on the type of tax unit (...
Options to Reform the Deduction for Home Mortgage Interest
Currently, taxpayers can deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their primary residence or a second designated residence. In addition, taxpayers can deduct interest on up to $100,000 in home equity loans or other loans secured by their properties...