From 1965 to 2022, the share of outstanding U.S. stock held in taxable brokerage and mutual fund accounts declined from 79 percent to 27 percent, as reflected in data from the financial accounts of the U.S. government collected by the Federal Reserve. The share of publicly traded stock held in...
From 2010 through 2019, funding for the Internal Revenue Service (IRS) dropped by 24 percent, after adjustment for inflation. As a consequence, the percentage of taxpayers who were audited fell by nearly half. In this paper, we use confidential IRS data to compare the returns on investments (ROI...
This article reviews the 18-year tenure of the just-retired National Taxpayer Advocate, Nina Olson, and her successes and challenges in building the post into a key role in tax administration through casework, systemic advocacy, and detailed reports to Congress.
Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the Joint Economic Committee during a hearing entitled “Unleashing America’s Economic Potential.” In his testimony, Mazur presented a review of the principles of desirable tax policy, clear and less clear findings...
Governments are starting to use taxes to discourage consumption of sugary drinks. Those taxes typically scale with drink volume. But sugar content varies widely. This report analyses the potential benefits and costs of scaling these taxes to sugar content. Taxes based on sugar content reduce...
Private equity funds manage vast amounts of money: $2.5 trillion in 2010, much more than the $100 billion in 1994. They earn immense profits, largely from selling the stock of acquired and improved companies. This article focuses on the character of the funds' profits. It recommends that the IRS...
Who's Left to Tax? Grappling with a Dwindling Shareholder Tax Base
From 1965 to 2022, the share of outstanding U.S. stock held in taxable brokerage and mutual fund accounts declined from 79 percent to 27 percent, as reflected in data from the financial accounts of the U.S. government collected by the Federal Reserve. The share of publicly traded stock held in...
Effects of Recent Reductions in the Internal Revenue Service’s Appropriations on Returns on Investment
From 2010 through 2019, funding for the Internal Revenue Service (IRS) dropped by 24 percent, after adjustment for inflation. As a consequence, the percentage of taxpayers who were audited fell by nearly half. In this paper, we use confidential IRS data to compare the returns on investments (ROI...
The Inside Agitator
This article reviews the 18-year tenure of the just-retired National Taxpayer Advocate, Nina Olson, and her successes and challenges in building the post into a key role in tax administration through casework, systemic advocacy, and detailed reports to Congress.
The critical appreciation...
Reflections on the Tax Cuts and Jobs Act
Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the Joint Economic Committee during a hearing entitled “Unleashing America’s Economic Potential.” In his testimony, Mazur presented a review of the principles of desirable tax policy, clear and less clear findings...
The Pros and Cons of Taxing Sweetened Beverages Based on Sugar Content
Governments are starting to use taxes to discourage consumption of sugary drinks. Those taxes typically scale with drink volume. But sugar content varies widely. This report analyses the potential benefits and costs of scaling these taxes to sugar content. Taxes based on sugar content reduce...
Taxing Private Equity Funds as Corporate 'Developers'
Private equity funds manage vast amounts of money: $2.5 trillion in 2010, much more than the $100 billion in 1994. They earn immense profits, largely from selling the stock of acquired and improved companies. This article focuses on the character of the funds' profits. It recommends that the IRS...