Individual Taxes: Speech

Should Wealth be Taxed?

Issues and Options
On September 24, 2019, Janet Holtzblatt presented at TPC's event, "Taxing Wealth." This slide deck provides an overview of the concept of a wealth tax and presents three design options to create one. View a live recording of Holtzblatt's presentation here .
September 24, 2019Janet Holtzblatt
Individual Taxes: Distribution Tables by Income Percentile

T19-0048 - 10 Percent Surtax on Adjusted Gross Income (AGI) in Excess of $2 Million Married ($1 Million Single); Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020

Table shows the effect on the distribution of federal tax burdens in calendar year 2020 of a 10 percent surtax on adjusted gross income in...
September 23, 2019
Individual Taxes: Distribution Tables by Income Level

T19-0049 - 10 Percent Surtax on Adjusted Gross Income (AGI) in Excess of $2 Million Married ($1 Million Single); Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2029

Table shows the effect on the distribution of federal tax burdens in calendar year 2029 of a 10 percent surtax on adjusted gross income in...
September 23, 2019
Individual Taxes: Distribution Tables by Income Percentile

T19-0050 - 10 Percent Surtax on Adjusted Gross Income (AGI) in Excess of $2 Million Married ($1 Million Single); Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2029

Table shows the effect on the distribution of federal tax burdens in calendar year 2029 of a 10 percent surtax on adjusted gross income in...
September 23, 2019
Individual Taxes: Distribution Tables by Income Level

T19-0047 - 10 Percent Surtax on Adjusted Gross Income (AGI) in Excess of $2 Million Married ($1 Million Single); Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2020

Table shows the effect on the distribution of federal tax burdens in calendar year 2020 of a 10 percent surtax on adjusted gross income in...
September 23, 2019
Individual Taxes: Revenue Tables

T19-0037 - Surtax on Adjusted Gross Income (AGI) Options; Baseline: Current Law; Impact on Tax Revenue ($ billions), 2019-29

Table shows the effect on federal tax revenue of options to impose a surtax on adjusted gross income (AGI).
September 23, 2019
: Daily Deduction

No Rest (and No Deals) for the Weary

Continuous Continuing Resolutions…
September 23, 2019Renu Zaretsky
The federal Earned Income Tax Credit (EITC) primarily benefits low- and moderate-income taxpayers with children. Taxpayers with no qualifying child comprised 26% of EITC returns, but received 3% of the total credit amount.
September 23, 2019
: Daily Deduction

Budget Breathing Room, A Pharma Tax, And Another Trump Tax Return Lawsuit

Budget progress? House passes a stop-gap spending bill and Senate Appropriations approves three money bills.
September 20, 2019Renu Zaretsky
: Daily Deduction

Budget Breathing Room, A Pharma Tax, And Another Trump Tax Return Lawsuit

Budget progress? House passes a stop-gap spending bill and Senate Appropriations approves three money bills.
September 20, 2019Renu Zaretsky
Individual Taxes: TaxVox

Will California’s New Labor Law Change The Way Gig Workers Are Taxed?

A sprawling and controversial new labor law signed by California Governor Gavin Newsom this week could have major tax consequences for gig workers in the...
September 20, 2019Howard Gleckman
: Daily Deduction

Another Rate Cut, And Business Asks Congress For Tariff Help

The Fed lowers a rate while CEOs expect lower growth.
September 19, 2019Renu Zaretsky
Individual Taxes: Journal Article

The Inside Agitator

This article reviews the 18-year tenure of the just-retired National Taxpayer Advocate, Nina Olson, and her successes and challenges in building the post into a key role in tax administration through casework, systemic advocacy, and detailed reports to Congress. The critical appreciation traces the
September 19, 2019Robert A. Weinberger
: Daily Deduction

Costs, An IRS Spending Bump, and Reforms

Shutting down the government comes at a price.
September 18, 2019Renu Zaretsky
: Daily Deduction

Tax Fights and Choices

New York State prosecutors seek 8 years of President Trump’s personal and corporate tax returns.
September 17, 2019Renu Zaretsky
: Daily Deduction

On a Vote and a Promise (or On a Wing and a Prayer)

On the Hill: A budget vote in the House.
September 16, 2019Renu Zaretsky
The federal tax law exempts credit unions from paying corporate income taxes. According to the Treasury, this exemption will cost $24 billion in forgone tax revenue between 2019 and 2028.
September 16, 2019
: TaxVox

The TCJA’s Cap On Mortgage Interest Deductions Tells Us That Taxes Matter, Up To A Point

When Congress passed the Tax Cuts and Jobs Act in December of 2017, it made a number of changes to the individual income tax (almost...
September 13, 2019Robert McClellandSafia Sayed
: Daily Deduction

New Social Security Benefits, and Taxes… And Another Plan to Tax the Wealthy

Elizabeth Warren would raise Social Security benefits and—and taxes.
September 13, 2019Renu Zaretsky
: Daily Deduction

Executive Action and Ways & Means Consideration

Executive action to reduce capital gains taxes?
September 12, 2019Renu Zaretsky
: Daily Deduction

Hitting a Wall and Reimagining Revenue

Senate Appropriation negotiations are off to a rocky start.
September 11, 2019
Individual Taxes: TaxVox

How Should We Tax The Rich

A cheat sheet on some of the leading ideas.
September 10, 2019Howard Gleckman
Federal Budget and Economy: Conference

Law and Macroeconomics: Using Regulations to Combat Recessions

The event will be webcast live on this page . Register to watch the webcast here . Ten years after the 2008 economic recession, the...
September 10, 2019
: Daily Deduction

Cutting Some Taxes and Blocking Some Tax Increases

Tax Cuts 2.0 in 2020? “Everything is awesome,” so why not?
September 10, 2019Renu Zaretsky
Individual Taxes: Research report

Investor Responsiveness to Capital Gains Taxes During the Great Recession

This paper uses a large panel of transaction-level capital asset sales data to investigate whether tax responsiveness varies with economic conditions. We estimate the tax elasticity associated with a large notch in the capital gains tax schedule, when the tax treatment changes from higher, ordinary
September 10, 2019Timothy DowdRobert McClellandJacob A. Mortenson