Who bears the burden of federal excise taxes? Q.Who bears the burden of federal excise taxes? A.Workers, owners of capital, and households that consume a disproportionate amount of taxed items all bear the burden of federal excise taxes. Read more about Who bears the burden of federal excise taxes?
What would the tax rate be under a broad-based income tax? Q.What would the tax rate be under a broad-based income tax? A.That depends on what exclusions, credits, and deductions are left in and whether revenue neutrality is a must. Read more about What would the tax rate be under a broad-based income tax?
What are tax extenders? Q.What are tax extenders? A.Several dozen tax provisions, almost all tax cuts, are authorized for only a limited number of years. When these temporary provisions are scheduled to expire, they become collectively known as the “tax extenders” because lawmakers likely will consider extending most or all of them. Recently these extensions have often been retroactive, taking place well after the provisions officially expired. The temporary-but-not-temporary character of these provisions complicates tax policy and budgeting. Read more about What are tax extenders?