state of the union

How Obama’s Tax Plan Will Redistribute Income from the Very Rich To The Poor

President Obama’s latest tax package, which he’ll unveil in detail next week along with his new budget, would lower taxes for low-income households and significantly raise taxes for the highest income 1 percent—those making $663,000 or more, according to new Tax Policy Center estimates . Middle-

January 28, 2015Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Adjusting the President’s Capital Gains Proposal

President Obama’s new proposal to tax capital gains at death is a welcome change that would close a huge loophole, but it suffers from a serious flaw: For some assets, it would be a record-keeping nightmare. Fortunately, there is an easy fix. The proposal is part of a broader tax plan that Obama

January 21, 2015William G. Gale

Federal Budget and Economy: TaxVox

President Obama’s Middle-Class Tax Message in the State of the Union

President Obama’s tax proposals for the middle class were a key element of his State of the Union address. But they represent only relatively modest efforts to create subsidies through the tax code rather than through other departments of government. Looked at broadly, many only tinker around the

January 21, 2015C. Eugene Steuerle

: TaxVox

Taxing the Rich: It’s a Plan Abroad, Too

The State of the Union: Tax reform depends on where you are sitting. In his State of the Union Address last night, President Obama called on Congress to address wealth inequality through the tax code, largely by increasing the capital gains tax and imposing a bank tax to fund tax relief for middle-

January 21, 2015Renu Zaretsky

Federal Budget and Economy: TaxVox

The Tax Reform Gap Between Obama and the GOP is Widening

In his state of the union address, President Obama laid out his vision for the tax code. Earlier in the day , in a speech to the Chamber of Commerce, Senate Finance Committee chair Orrin Hatch (R-UT) described his. They are not only on different planets. They inhabit different galaxies. Obama wants

January 20, 2015Howard Gleckman

: TaxVox

To Build a Better Tax Code, You Could Follow the Money

Death and taxes: Inevitable, but not always paired. President Obama wants to change that. In a wide-ranging tax plan he’ll highlight at tonight’s State of the Union address, he’d close “arguably the biggest loophole in the tax code for high-wealth households,” says TPC’s Len Burman. Len explains

January 20, 2015Renu Zaretsky

Individual Taxes: TaxVox

President Obama Targets the "Angel of Death" Capital Gains Tax Loophole

The President plans to announce in Tuesday’s State of the Union Address new proposals that would raise taxes on capital gains for the wealthiest Americans. The proposal would raise the top tax rate on long-term gains and qualifying dividends to 28-percent (including the Affordable Care Act’s 3.8

January 18, 2015Leonard E. Burman

Individual Taxes: TaxVox

State of the Union Speech Promotes New Retirement Savings Vehicles

In this year’s State of the Union Address, President Obama announced a new retirement savings account for workers whose employers do not offer any form...

January 29, 2014William G. Gale Benjamin H. Harris David C. John

Federal Budget and Economy: TaxVox

Obama’s State of the Union and the Great Deficit Smackdown

House Republicans say they want to balance the budget in a decade with only spending cuts and no tax hikes. In his state of the...

February 12, 2013Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Corporate Tax Reform is on Obama’s Agenda, But Can He Pull it Off?

In what will probably be the usual endless laundry list of State of the Union promises, President Obama is likely to include tax reform, by...

February 12, 2013Howard Gleckman