Business Taxes: TaxVox

Lessons for the US From Canada’s Ambitious Carbon Tax Plan

Earlier this week, Canadian Prime Minister Justin Trudeau dropped a bombshell: He’ll require every province to adopt either a carbon tax or develop a carbon...
October 6, 2016Howard Gleckman
Business Taxes: Research report

Goldilocks Meets Private Equity: Taxing Carried Interest Just Right

Controversy rages about how to tax carried interest. One view sees carry as compensation that should be taxed like other labor income. Another sees carry as a reward for financial risk-taking that should be taxed like capital income. A third sees carry as creating a costly tax arbitrage. In this
October 6, 2016Donald Marron
Individual Taxes: Distribution Tables by Dollar Income Class

T16-0209 - Distribution of Tax Units That Pay No Individual Income Tax, By Expanded Cash Income Level, 2016

The distribution of tax units that pay no individual income tax by expanded cash income level under current law in 2016.
October 5, 2016
Individual Taxes: Distribution Tables by Percentile

T16-0210 - Distribution of Tax Units That Pay No Individual Income Tax, By Expanded Cash Income Percentile, 2016

The distribution of tax units that pay no individual income tax by expanded cash income percentile under current law in 2016.
October 5, 2016
State and Local Issues: TaxVox

The dark world of property assessment

In addition to his income tax troubles, Donald Trump has been engaged in a high-profile battle over property taxes. But he’s not the only business...
October 5, 2016Megan Randall
Individual Taxes: TaxVox

Transparency, Tax Returns, and Tax Reform: An Open and Shut Case?

The New York Times expose on Donald Trump’s apparent use of real estate tax losses to avoid paying income taxes for years has the political world abuzz. But the revelation raises another interesting question: Should any of our tax returns be private?
October 4, 2016Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Does Donald Trump pay taxes, ever?

Yesterday, the New York Times reported Donald Trump may have paid no federal income tax for nearly two decades. Leaked excerpts of Trump’s 1995 tax returns showed huge losses that the real estate mogul could have used to offset other income and zero out his income tax liability for many years.
October 3, 2016Steven M. Rosenthal
: Daily Deduction

Net Operating Losses, Tax-Exempt Status, and the Future

Was Donald Trump able to avoid paying federal income tax for nearly two decades?
October 3, 2016Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

What immigration means for our economic and fiscal future

Are immigrants good for the economy and the country’s balance sheet? That is the politically charged and analytically difficult question tackled in a three-year study...
September 29, 2016Kim S. Rueben
: Daily Deduction

Tax Subsidies, Being Wrong, and Reaching a Deal

TPC adds up tax expenditures: Individual tax expenditures reduced federal revenues by $1.168 trillion in 2015.
September 29, 2016Renu Zaretsky
Federal Budget and Economy: TaxVox

A value added tax is not a trade barrier

Donald Trump peddled an economic fallacy in Monday night’s Presidential debate by suggesting that Mexico’s value added tax, or VAT, gives its producers an advantage...
September 28, 2016Eric Toder
: Daily Deduction

“At the debate, in a galaxy not far away”

When it comes to tax plans, Trump is from Mars, Clinton is from Venus.
September 28, 2016Renu Zaretsky
Individual Taxes: TaxVox

Who benefits from tax expenditures?

Individual tax expenditures reduced federal revenues by $1.168 trillion in 2015, according to new estimates by the Tax Policy Center. And the biggest share of...
September 28, 2016Yifan PowersDaniel Berger
: Daily Deduction

There was a debate last night…

There was some talk about taxes, but… The presidential candidates sparred over the relative benefits of supply-side economics, while Donald Trump promised to release his tax returns if Hillary Clinton shared his emails. He also said that his federal income tax dollars "would have" been squandered, and that paying no federal income taxes in several years makes him “smart.”
September 27, 2016Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Last Night's Debate Highlighted Trump's and Clinton’s Competing Visions of Taxes

While neither candidate said much new about taxes in last night’s presidential debate, both clearly described their vastly different visions of tax policy. It was...
September 26, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Five tax policy questions for tonight’s presidential debate

Lester Holt, the moderator for tonight’s presidential debate between Hillary Clinton and Donald Trump, announced the debate’s topics last week: America’s direction, achieving prosperity, and...
September 26, 2016Richard C. Auxier
: Daily Deduction

A Trump Tax Increase?

A new analysis of Trump’s tax plan uncovers a tax hike.
September 26, 2016Renu Zaretsky
Individual Taxes: Research report

Distributional Effects of Individual Income Tax Expenditures: An Update

This paper provides estimates of the total cost of non-business tax expenditures claimed on individual tax returns, taking account of interactions among provisions, and of their distributional effects among income groups. We estimate that non-business tax expenditures reduced tax liability by $1.17
September 26, 2016Eric ToderDaniel BergerYifan Powers
: Daily Deduction

Economic Consequences and Tax Cuts

How much would Clinton and Trump raise the debt?
September 23, 2016Renu Zaretsky
: Daily Deduction

Math, Questions, and Bills

Do Trump’s child care tax cuts add up?
September 22, 2016Renu Zaretsky
State and Local Issues: TaxVox

Can regional financing help central cities?

For all the buzz about urban revival and city economic health, it’s not all about trendy small plate restaurants or abandoned factories-turned-coworking spaces. Central cities...
September 22, 2016Megan Randall
: Daily Deduction

The Art of the Self-Deal

Donald Trump used his charitable foundation to pay his for-profit firms’ legal settlements.
September 21, 2016Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Trump’s Childcare Tax Breaks Would Mostly Benefit Families Who Need Them the Least

With great fanfare, Donald Trump has proposed a new plan to help families pay for child care . However, the proposal, which is a revised...
September 21, 2016Elaine Maag
Campaigns, Proposals, and Reforms: TaxVox

The Long Strange Journey of Donald Trump and Partnership Taxes

In my many years of writing about tax policy, I have never seen anything quite like the ongoing affair of Donald Trump and business taxes...
September 20, 2016Howard Gleckman
: Daily Deduction

Uncertainty, Framing, and Inquiries

Another tax plan, another score. The Tax Foundation estimates that Donald Trump’s tax plan could lower federal revenue...
September 20, 2016Renu Zaretsky