Various provisions of the 2001 tax cut change the marriage penalties or subsidies lower- and middle-income households may face. We focus on the higher marriage penalties that heads of household filers marrying single filers often confront -- the loss of valuable children's tax benefits for which...
Congress must be careful in deciding whether or not to subject stock options to Social Security and unemployment tax. There is certainly a case to be made for not doing so, but Congress could find itself in the funny position of offering special employment tax treatment to employees who have...
The federal income tax system has been used in a number of ways to promote favored forms of consumption and investment and to help selected groups of taxpayers. Since the mid-1980s, Congress has increasingly used the federal tax code to support social programs. This trend is likely to continue....
It seems to be that everywhere you turn, strong viewpoints on the opposite side of any given issue are garnering attention at the sake of objective, factual reporting. Truth sometimes is represented by a strong view only on one side of an issue, and in many cases truth can be found by balancing...
In June 2001, Congress and the president approved the Economic Growth and Reconciliation Act of 2001 (EGTRRA), the largest tax cut in two decades. The multiyear cut, scheduled to phase in gradually over the decade, will reduce taxes (and government revenue) by $1.35 trillion by 2010. EGTRRA then...
Urban Institute Senior Fellow, C. Eugene Steuerle, testifies before the U.S. House of Representatives Committee on the Budget, making recommendations on the Trustees Report on Social Security.
The Economic Growth and Tax Relief Reconciliation Act of 2001 phased out the estate tax by 2010, but it is scheduled to be restored, along with the rest of the 2001 tax changes, in 2011. This commentary argues that the federal estate tax is the most progressive tax in the federal system, an...
Some Implications of the Revenue Shortfall
Here are fourteen implications of the revenue shortfall.
Saying 'I Do' after the 2001 Tax Cuts
Various provisions of the 2001 tax cut change the marriage penalties or subsidies lower- and middle-income households may face. We focus on the higher marriage penalties that heads of household filers marrying single filers often confront -- the loss of valuable children's tax benefits for which...
Should Stock Options Be Preferred to 401(k) & Other Plans
Congress must be careful in deciding whether or not to subject stock options to Social Security and unemployment tax. There is certainly a case to be made for not doing so, but Congress could find itself in the funny position of offering special employment tax treatment to employees who have...
Bubble Markets and Pension Fund Assumptions
This article examines when it is appropriate to adjust expected returns upward.
Providing Federal Assistance for Low-Income Families through the Tax System
The federal income tax system has been used in a number of ways to promote favored forms of consumption and investment and to help selected groups of taxpayers. Since the mid-1980s, Congress has increasingly used the federal tax code to support social programs. This trend is likely to continue....
Objective Reporting: Where Can It Be Found?
It seems to be that everywhere you turn, strong viewpoints on the opposite side of any given issue are garnering attention at the sake of objective, factual reporting. Truth sometimes is represented by a strong view only on one side of an issue, and in many cases truth can be found by balancing...
EGTRRA: Which Provisions Spell the Most Relief?
In June 2001, Congress and the president approved the Economic Growth and Reconciliation Act of 2001 (EGTRRA), the largest tax cut in two decades. The multiyear cut, scheduled to phase in gradually over the decade, will reduce taxes (and government revenue) by $1.35 trillion by 2010. EGTRRA then...
Social Security and the Trustees Report
Urban Institute Senior Fellow, C. Eugene Steuerle, testifies before the U.S. House of Representatives Committee on the Budget, making recommendations on the Trustees Report on Social Security.
Don't Bury the Estate Tax
The Economic Growth and Tax Relief Reconciliation Act of 2001 phased out the estate tax by 2010, but it is scheduled to be restored, along with the rest of the 2001 tax changes, in 2011. This commentary argues that the federal estate tax is the most progressive tax in the federal system, an...
The New Old Tax Expenditure Debate, Part 3
In this third part of the series, we look at the conservatives' approach to the tax expenditure budget.