Tax Policy Center

Warren Buffett

Campaigns, Proposals, and Reforms: TaxVox
The individual income tax has never taxed the very wealthy much. Donald Trump may have claimed huge losses starting in the early-1990s, but, like other...
October 12, 2016C. Eugene Steuerle
: TaxVox
There’s more than one way to skin a cat (and reduce taxes). Warren Buffett, chairman of Berkshire Hathaway, has made a swap for Procter & Gamble’s interest in Duracell. The “cash-rich split-off” means that Berkshire Hathaway bought Duracell in exchange for its appreciated P&G stock, worth $
November 14, 2014Renu Zaretsky
: TaxVox
Have it your way… unless you’re Burger King. Five Senate Democrats—Illinois’ Dick Durbin, Michigan’s Carl Levin, Rhode Island’s Jack Reed, Vermont’s Bernie Sanders and Ohio’s Sherrod Brown—asked Burger King to not move its legal headquarters to lower-tax Canada. They accused it of trying to avoid
September 12, 2014Renu Zaretsky
Individual Taxes: TaxVox
This afternoon, I moderated an interesting Tax Policy Center panel on taxing the rich. With the Senate about to debate a Buffett tax on millionaires, the timing couldn’t be better. Unfortunately for the White House, about the only thing the panelists agreed upon was that the Buffett tax is a
April 12, 2012Howard Gleckman
Individual Taxes: TaxVox
The Paying a Fair Share Act of 2012 (PFSA) – Congress’ first crack at legislating the Buffett rule – would apply a broad-based 30 percent minimum tax for those earning more than $1 million a year. We have a pretty good idea of how this would affect people’s taxes : it would substantially raise them
February 14, 2012Dan Baneman
Individual Taxes: TaxVox
In his State of the Union speech, President Obama’s called for a new law that would require high-income people to pay at least 30 percent of their income in taxes. In response, Senator Sheldon Whitehouse (D-RI) and Representative Tammy Baldwin (D-WI) have introduced the Paying a Fair Share Act of
February 9, 2012Roberton C. Williams
Individual Taxes: TaxVox
President Obama didn’t quite get around to saying so when he rolled out his latest deficit reduction plan on Monday, but his Buffett Rule —that no one making more than $1 million should pay a lower tax rate than those in the middle-class—is mostly about investment income. On average, high income
September 22, 2011Howard 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
Individual Taxes: TaxVox
After I wrote last week about Warren Buffett’s New York Times op-ed on the low tax rates paid by wealthy investors, Tax Policy Center visiting scholar Brian Galle pointed out that my graph showing the maximum tax rates Americans could pay was misleading. Actual tax rates, he noted, are much lower
August 31, 2011Roberton C. Williams
Individual Taxes: TaxVox
When Warren Buffett called for higher taxes on the wealthy in a New York Times op-ed last week, the billionaire investor argued that he and wealthy people like him face lower federal rates than the rest of us. Low rates on long-term capital gains and qualified dividends and limited exposure to
August 23, 2011Roberton C. Williams