Tax Policy Center

Capital Gains Taxes

Individual Taxes: TaxVox
Unlike the rest of us, many high-income, influential people and organizations have close to a free hand when it comes to their taxes. Already underfunded and understaffed, the IRS seems incapable of stopping many aggressive or even abusive interpretations of the tax laws, often by hedge funds or
July 22, 2014Howard Gleckman
Individual Taxes: TaxVox
Senator Ron Wyden (D-OR), about to become the new chairman of the Senate Finance Committee, said Friday that he aims to eventually rewrite what he described as a “dysfunctional, rotting mess of a carcass that we call the tax code.” But in an acknowledgement of the challenges of tax reform, Wyden
February 10, 2014Howard Gleckman
Individual Taxes: TaxVox
Two new studies show just how hard a time Congress will have trying to slash tax rates without adding trillions of dollars to the budget deficit and producing a massive tax windfall for the highest-income American households. Last week, the congressional Joint Committee on Taxation estimated that a
August 8, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
Max Baucus and Dave Camp, leaders of the Senate and House tax-writing committees, are on the road promoting tax simplification. One goal: cleaning out the mess of deductions, exclusions, credits, and other tax breaks that complicate the code. Done well, such house cleaning could make for a simpler
July 8, 2013Donald Marron
Federal Budget and Economy: TaxVox
In the end, it looks like Congress isn’t even going to kick the fiscal can down the road. Assuming the House passes the deal agreed to by the Senate on New Year’s Eve, lawmakers will barely get that battered tin container it off the front stoop. The agreement preserves nearly all of the 2001-2010
January 1, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
When we talk about the federal budget, we usually rely on the government’s official definition of “spending” which is to say the amount of money that’s run through federal agencies. But, in reality, the federal government spends a lot more than that. Using a broader definition of spending, which
March 26, 2012Howard Gleckman
Individual Taxes: TaxVox
The on-again, off-again battle over how to tax the compensation of private equity managers may be on again, thanks to the confluence of two seemingly unrelated events. The first is the controversy over the role of Bain Capital, the investment partnership whose founders included Republican
January 12, 2012Howard Gleckman
Federal Budget and Economy: TaxVox
On Monday, the Administration released its deficit reduction blueprint . One part of the Administration’s proposal, which has received enormous attention, is that the Joint Select Committee on Deficit Reduction should observe the “Buffett Rule” if it attempts tax reform. The furor over this
September 22, 2011Samuel BrownWilliam G. GaleAdam Looney