Trillions of dollars of unrealized capital gains permanently escape taxation, disproportionately benefitting the richest Americans. Congress could close this loophole.
The US federal tax system is highly progressive, primarily because individual income tax rates rise sharply with income and refundable tax credits lead to negative...
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...
Investment manager James Ross last week told New York Times columnist James Stewart that his combined federal, state, and local tax rate was 102 percent...