Tax Policy Center

payroll tax

Individual Taxes: TaxVox
Americans agonize each spring over their annual federal income tax returns. In terms of how much tax they pay, however, they should worry more about...
September 6, 2016Roberton C. Williams
Campaigns, Proposals, and Reforms: TaxVox
Would you be willing to swap a new, broad-based consumption tax for your employer’s share of the Social Security and Medicare payroll tax? According to...
July 6, 2016Howard Gleckman
Individual Taxes: TaxVox
A new Congressional Budget Office report does a nice job of busting some of the most persistent tax myths of both the political left and...
June 9, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing , how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year
January 18, 2016Howard Gleckman
Federal Budget and Economy: TaxVox
In its semi-annual fiscal update released this week, the Congressional Budget Office projects that federal revenues will remain flat over the next decade, while spending—mostly for health care and Social Security—will rise. The result: Budget deficits, which have been declining in recent years as
August 27, 2015Howard Gleckman
Individual Taxes: TaxVox
While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80 million tax filers making $40,000 or less will collectively
April 2, 2015Howard Gleckman
Individual Taxes: TaxVox
Nothing gets lawmakers and pundits more outraged than government’s proverbial waste, fraud, and abuse. Nearly always, these stories involve spending. But taxes are hardly immune. One case of pure waste involves a simple math mistake that will cost the Treasury $5 billion in lost revenue over the
July 1, 2014Howard Gleckman
Individual Taxes: TaxVox
The tax subsidy for employer-sponsored health insurance is huge. Not only are the premiums exempt from income tax, they are also immune from Social Security payroll tax. The two subsidies combined will add more than $1.6 trillion to the deficit over the next five years alone. But because that
May 8, 2014Howard Gleckman
Federal Budget and Economy: TaxVox
Over the next decade, the individual income tax will be the fastest growing source of federal revenue, according to new estimates by the Congressional Budget Office. In fact, the individual income tax will pretty much be the only revenue source likely to increase significantly over the next decade
February 6, 2014Howard Gleckman
Individual Taxes: TaxVox
While relatively few low-income people pay federal income tax, a large and growing share owe Social Security and Medicare payroll taxes, according to new estimates by the Tax Policy Center. As a result, while about 43 percent of all households will pay no federal income tax this year, only 14
September 12, 2013Howard Gleckman