Campaigns, Proposals, and Reforms: TaxVox

Sarah Palin and Taxes

When it comes to taxes, Sarah Palin turns out to be an intriguing mix of Barack Obama and John McCain. Like Obama, she favors a tax rebate for consumers funded by a windfall profits tax on energy companies. But, like McCain, she also backs a gas tax holiday.
September 2, 2008Howard Gleckman
Federal Budget and Economy: TaxVox

The Audacity of Campaign Promises

Barack Obama gave four speeches last night. The first was the same optimistic cry for change that has carried him so far in this Presidential season. The second was a tough, frontal attack on the economic and foreign policies of both George Bush and John McCain. The third was a (Bill) Clintonesque bit of social policy triangulation—we can all work together to find solutions to such hot button issues as abortion, guns, gay marriage, and immigration. The fourth was a recitation of his economic agenda—a long list of promises that is familiar to readers of TaxVox by now.
August 29, 2008Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Obama's Stimulus Plan: $115 Billion and Counting

Barack Obama has raised the ante on economic stimulus. Just two weeks ago, when I left for vacation, the Illinois Senator was talking about a $50 billion plan. I barely unpack (and yes, I had a nice time, thanks for asking) and learn he is now considering a $115 billion boost. That, at least, is what an Obama aide told the Wall Street Journal yesterday.
August 27, 2008Howard Gleckman
Individual Taxes: TaxVox

Who Really Pays the Corporate Income Tax?

After the Government Accountability Office reported last month that two-thirds of corporations in the U.S. pay no corporate income tax, critics vented their disdain. "It's shameful that so many corporations make big profits and pay nothing to support our country," railed Sen. Byron Dorgan (D-N.D.) in a press release.
August 26, 2008Roberton C. Williams
Campaigns, Proposals, and Reforms: Representative Families

T08-0210 - Change in Tax Liability Under the Presidential Candidate Tax Plans: Advisors' Versions for Representative Nonelderly Single and Head of Household Families Assuming Current-Law Nonitemizers Do Not Have Mortgages, 2009

2009 Change in individual income and corporate tax liability for representative unmarried nonelderly families under each of the two presidential candidate's proposals.
August 24, 2008
Campaigns, Proposals, and Reforms: Representative Families

T08-0211 - Change in Tax Liability Under the Presidential Candidate Tax Plans: Advisors' Versions for Representative Married Families Filing Joint Returns, Assuming Current-Law Nonitemizers Do Not Have Mortgages, 2009

2009 Change in individual income and corporate tax liability for representative married nonelderly families under each of the two presidential candidate's proposals.
August 24, 2008
Campaigns, Proposals, and Reforms: Representative Families

T08-0212 - Change in Tax Liability Under the Presidential Candidate Tax Plans: Advisors' Version for Representative Elderly Families, Assuming Current-Law Nonitemizers Do Not Have Mortgages, 2009

2009 Change in individual income and corporate tax liability for representative elderly families under each of the two presidential candidate's proposals.
August 24, 2008
Campaigns, Proposals, and Reforms: Low-Income Families and Children

T08-0209 - Options to Expand the Child and Dependent Care Tax Credit, Impact on Tax Revenue (billions of $), 2009-18

This table shows the incremental impact on tax revenue of various options to expand the child and dependent care tax credit.
August 21, 2008
Individual Taxes: TaxVox

Je Ne Regrette Rien

Five years ago, gubernatorial candidate Arnold Schwarzenegger made this lament about Californians' tax burden: "From the time they get up in the morning and flush the toilet, they're taxed. When they go and get a coffee, they're taxed. They get into their car, they're taxed. They go to the gas station, they're taxed. They go for lunch, they're taxed. This goes on all day long. Tax, tax, tax, tax, tax. Even when they go to bed, you can go to bed in fear that you are going to be taxed while you're sleeping, that there is a sleeping tax."
August 21, 2008Tracy Gordon
Individual Taxes: TaxVox

Boring Report Prompts Sensational Claims on Corporate Tax Avoidance

The Government Accountability Office last week released a report with the scintillating title: "Comparison of the Reported Tax Liabilities of Foreign- and U.S.-Controlled Corporations, 1998-2005." Summarizing, GAO stated that in 2005 Foreign Controlled Domestic Corporations (FCDCs) reported a lower ratio of tax liabilities to gross receipts and total assets than did U.S.-Controlled Domestic Corporations (USCCs). At play could be abusive transfer pricing transactions. But, GAO also pointed out, FCDCs and USCCs differ by age, size, and industry composition and the agency "did not attempt to determine the extent to which these factors and others, such as transfer pricing abuse, explain differences in tax liabilities."
August 20, 2008Eric Toder
Campaigns, Proposals, and Reforms: TaxVox

Baseline Confusion

When the Tax Policy Center reported last month that Senators Obama's and McCain's tax proposals would both reduce federal revenues by trillions of dollars over the coming decade, both campaigns complained that TPC was using the wrong baseline to measure revenue changes. Instead of measuring revenue against current law, they asserted, analysts should assess the plans against "current policy." In fact, the choice of baselines is in some sense irrelevant as a gauge of our fiscal problems.
August 19, 2008Roberton C. Williams
: Research report

Refundable Credits Have Cut Taxes for Low-Income Households

In 1979, federal taxes claimed 8 percent of the income of households in the lowest quintile of the income distribution.1 Over the following three decades, the average effective tax rate (ETR) taxes as a percentage of income fell by nearly half to 4.3 percent in 2005. Most of the decline resulted
August 19, 2008Roberton C. Williams
Individual Taxes: TaxVox

Trapped by the AMT

Len Burman of the Tax Policy Center and other tax experts frequently bemoan the horrendous complexity of the AMT and its potential to trap unwary taxpayers. But until now, we have not had data on how many taxpayer errors the AMT causes.
August 15, 2008Eric Toder
Individual Taxes: TaxVox

Obama's Empty Social Security Fix

The thing about a donut hole is that it is empty. There is nothing. And that, it seems, is what is left of Barack Obama's plan to fix Social Security. The Obama people now tell us that his proposal, which is built on a tax hike for those earning more than $250,000, won't take effect until at least 2018. You heard right: 2018.
August 14, 2008Howard Gleckman
Federal Budget and Economy: Current Law

T08-0208 - Distribution of Tax Units with Zero or Negative Individual Income Tax Liability by Cash Income Level, 2009

This table shows the distribution, by cash income level, or tax units that have zero or negative individual income tax liability in 2009 under current law.
August 13, 2008
Federal Budget and Economy: 2001 Tax Act: Make Provisions in EGTRRA Permanent

T08-0201 - Make 2001-06 Tax Cuts Permanent and Extend AMT Patch, Distribution of Federal Tax Change by Cash Income Percentile, 2012

The 2012 distribution of federal tax change, by cash income percentile, of making the 2001-2006 tax cuts permanent and extending the AMT patch.
August 13, 2008
Federal Budget and Economy: 2001 Tax Act: Make Provisions in EGTRRA Permanent

T08-0200 - Make 2001-06 Tax Cuts Permanent and Extend AMT Patch, Distribution of Federal Tax Change by Cash Income Level, 2012

The 2012 distribution of federal tax change, by cash income level, of making the 2001-2006 tax cuts permanent and extending the AMT patch.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0202 - Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax), Distribution of Federal Tax Change by Cash Income Level, 2009

The 2009 distribution of federal tax change, by cash income level, of Senator Barack Obama's tax proposals as described by his economic advisers.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0203 - Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax), Distribution of Federal Tax Change by Cash Income Percentile, 2009

The 2009 distribution of federal tax change, by cash income percentile, of Senator Barack Obama's tax proposals as described by his economic advisers.
August 13, 2008

T08-0204 - Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax), Distribution of Federal Tax Change by Cash Income Level, 2012

The 2012 distribution of federal tax change, by cash income level, of Senator Barack Obama's tax proposals as described by his economic advisers.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0205 - Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax), Distribution of Federal Tax Change by Cash Income Percentile, 2012

The 2012 distribution of federal tax change, by cash income percentile, of Senator Barack Obama's tax proposals as described by his economic advisers.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0206 - Senator Obama's Tax Proposals of August 14, 2008: Advisers' Version (No Payroll Surtax), Tax Cuts Extended Baseline, Distribution of Federal Tax Change by Cash Income Level, 2012

The 2012 distribution of federal tax change, by cash income level, of Senator Barack Obama's tax proposals as described by his economic advisers. The federal tax change is compared to a tax cuts extendend baseline.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0207 - Senator Obama's Tax Proposals of August 14, 2008: Advisers' Version (No Payroll Surtax), Tax Cuts Extended Baseline, Distribution of Federal Tax Change by Cash Income Percentile, 2012

The 2012 distribution of federal tax change, by cash income percentile, of Senator Barack Obama's tax proposals as described by his economic advisers. The federal tax change is compared to a tax cuts extended baseline.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0194 - Senator Obama's Tax Proposals of August 14, 2008: Stump Speech Version (With Payroll Surtax), Distribution of Federal Tax Change by Cash Income Level, 2009

The 2009 distribution of federal tax change, by cash income level, of the federal tax change of Senator Barack Obama's tax proposals as described in stump speeches.
August 13, 2008
Campaigns, Proposals, and Reforms: Alternative Minimum Tax

T08-0195 - Senator Obama's Tax Proposals of August 14, 2008: Stump Speech Version (With Payroll Surtax), Distribution of Federal Tax Change by Cash Income Percentile, 2009

The 2009 distribution of federal tax change, by cash income percentile, of Senator Barack Obama's tax proposals as described in stump speeches.
August 13, 2008