Tax expenditures on average raise after-tax incomes more for upper-income than for lower-income taxpayers. As a share of income, special rates for capital gains and dividends and itemized deductions provide the largest benefits for taxpayers in the top 1 percent of the income distribution,
Share of income, payroll, corporate, estate and federal taxes paid under current law, disaggregated by filing status and demographic groups, by cash income percentile, 2012.
Share of income, payroll, corporate, estate and federal taxes paid under current policy, disaggregated by filing status and demographic groups, by cash income percentile, 2012.
Share of income, payroll, corporate, estate and federal taxes paid under current law, disaggregated by filing status and demographic groups, by cash income percentile, 2013.
Share of income, payroll, corporate, estate and federal taxes paid under current policy, disaggregated by filing status and demographic groups, by cash income percentile, 2013.
On Tuesday, I testified before the Senate Finance Committee at a hearing titled “ Extenders and Tax Reform: Seeking Long-Term Solutions .” I was already...
Share of income, payroll, corporate, estate and federal taxes paid under current law, disaggregated by filing status and demographic groups, by cash income percentile, 2011.
On Tuesday, the Senate Finance Committee held a hearing on “Extenders and Tax Reform: Seeking Long-Term Solutions.” It’s about time! The charade of annual or...
A well-designed Value-Added Tax could simplify the tax code for most households and finance significant reductions in corporate and individual income tax rates without adding...
This paper takes a broad look at tax expenditures in the context of revenue raising tax reform. It first reviews how tax expenditures have changed over the past 25 years and provides estimates of the distribution of tax savings resulting from tax expenditures today. The paper then examines three
To help pay for expanded health insurance coverage, the health reform legislation enacted in 2010 included a new 3.8 percent tax on the net investment income of high-income taxpayers. When it goes into effect in 2013, it will increase the top tax rate on capital gains, dividends, and other
Despite evidence to the contrary, there is a lingering view that Mitt Romney’s tax plan would primarily help middle-income households and not favor the rich...
In "100 Million Unnecessary Returns," Columbia University law professor Michael J. Graetz proposed a sweeping reform of the federal tax system that is intended to simplify the tax system, improve economic incentives, and maintain fairness. The Graetz proposal would remove most current taxpayers
In a contribution to the Christian Science Monitor, Donald Marron discusses the estimates of America's debt which vary by tens of trillions of dollars, depending on how you count. The bottom line: It's deep but not yet fatal.
Tax rates on capital gains have fluctuated over the past century, sometimes matching the rates for ordinary income but more often substantially below them. The current top gains tax rate is 15 percent, less than half the 35 percent top rate on ordinary income and lower than at any time since the
