: TaxVox

Tax Vox’s Fearless Predictions for 2011

The battle lines, as they say, have been drawn. In his radio address last Saturday, President Obama said his goal for 2011 is to "do everything I can to make sure our economy is growing, creating jobs and strengthening our middle class.” Republicans want to grow the economy as well, but in the
January 4, 2011
Individual Taxes: TaxVox

To Our Readers: TaxVox Has Moved to a New Platform

TaxVox regulars might notice we’re celebrating the New Year by moving to a new blog platform (it’s not exactly bubbly and caviar, but we are...
December 30, 2010Howard Gleckman
Individual Taxes: Research report

Who Benefits From the Dependent Exemption?

The dependent exemption reduces taxable income by a fixed amount ($3,650 in 2010) for each qualifying child in the family. Benefits depend on a family's marginal tax rate. Low-income families receive a tax reduction of up to $365 per exemption compared to high income families that receive a tax
December 30, 2010Elaine Maag
Individual Taxes: TaxVox

Tax Reform Won’t Happen in 2011 (or 2012)

Much as I hate to write these words, tax reform isn’t going to happen in the coming year, or even in the year after that...
December 28, 2010Howard Gleckman
Individual Taxes: TaxVox

The Tax Vox 2010 Lump of Coal Award, Job-Killing Edition

It's time for Tax Vox's fourth annual Lump of Coal Award, given to 2010's worst moments in fiscal policy. Bad law, outrageous rhetoric, and months...
December 23, 2010Howard Gleckman
Individual Taxes: TaxVox

Obama-GOP Compromise Tax Plan on TPC's Tax Calculator

In a flurry of lame-duck activity, Congress quickly passed the Obama-GOP compromise tax plan and the president signed it into law. TPC has incorporated the...
December 22, 2010Roberton C. Williams
Campaigns, Proposals, and Reforms: TaxVox

How the Tax Deal Helps Manhattan Real Estate Developers In the Name of 9/11

Why is Congress continuing to subsidize lower Manhattan real estate developers nearly a decade after the 9/11 terrorist attacks on the World Trade Center? While...
December 21, 2010Howard Gleckman
Federal Budget and Economy: TaxVox

Johnny Depp and the New Tax Law

When the President signs the big tax deal later today, will he be cutting income taxes for most families or sparing them a tax hike?...
December 17, 2010Donald Marron
Individual Taxes: Brief

It's Not About Economic Equality

In the New York Times' Room for Debate, Roberton Williams discusses the estate tax and why, despite its shortcomings, it still has an important role in federal tax policy.
December 17, 2010Roberton C. Williams
Campaigns, Proposals, and Reforms: TaxVox

The Obama-GOP Tax Deal May Be Bipartisan, But It Isn't Stimulus and It Isn't Smart

A modest thought experiment: Here is a check for $858 billion. Your job is to boost short-term economic growth. What would you do with the...
December 16, 2010Howard Gleckman
: Research report

TPC Affiliate Honored for Lifetime Achievement by the National Tax Association

Brookings Senior Fellow Henry J. Aaron has been named the recipient of the National Tax Associations 2010 Daniel M. Holland Medal, awarded for his lifetime achievements influencing the study and practice of public finance. Aaron figured prominently in advancing substantive discourse within
December 16, 2010The Brookings Institution
Individual Taxes: TaxVox

Resurrecting the Estate Tax as a Shadow of Its Former Self

For nearly a year, we’ve had no federal estate tax. The estates of those who died in 2010—including at least five billionaires—have passed to their...
December 14, 2010Roberton C. Williams
Federal Budget and Economy: 2011

T10-0278 - Making Work Pay Credit and Payroll Tax Cut; Baseline: Current Policy; Comparison of Benefits by Cash Income Level, 2011

Comparison of average benefits in 2011 from the Making Work Pay credit and the 2-percentage-point OASDI tax rate cut for employees, compared with current policy, by cash income level.
December 13, 2010
Federal Budget and Economy: 2011

T10-0279 - Making Work Pay Credit and Payroll Tax Cut; Baseline: Current Policy; Comparison of Benefits by Cash Income Percentile, 2011

Comparison of average benefits in 2011 from the Making Work Pay credit and the 2-percentage-point OASDI tax rate cut for employees, compared with current policy, by cash income percentile.
December 13, 2010
Federal Budget and Economy: Current Law

T10-0271 - Income Breaks for the 2009 Tax Model (0509 Series), 2004-2019

Table shows the income percentile breaks for the updated 2009 model by cash income, adjusted cash income, economic income, and adjusted gross income.
December 12, 2010
Federal Budget and Economy

T10-0275 - 2010 Tax Act as Considered by the Senate; Baseline: Current Policy; Distribution by Cash Income Percentile, 2011

Distribution of federal tax change in 2011, by cash income percentile, from the reported tax agreement between the Obama administration and Congressional Republicans, compared with current policy.
December 12, 2010

T10-0272 - 2010 Tax Act as Considered by the Senate; Baseline: Current Law; Distribution by Cash Income Level, 2011

Distribution of federal tax change in 2011, by cash income level, from Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as Considered by the Senate, compared with current law.
December 12, 2010

T10-0273 - 2010 Tax Act as Considered by the Senate; Baseline: Current Law; Distribution by Cash Income Percentile, 2011

Distribution of federal tax change in 2011, by cash income percentile, from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as Considered by the Senate, compared with current law.
December 12, 2010

T10-0274 - 2010 Tax Act as Considered by the Senate; Baseline: Current Policy; Distribution by Cash Income Level, 2011

Distribution of federal tax change in 2011, by cash income level, from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as Considered by the Senate, compared with current policy.
December 12, 2010
Federal Budget and Economy

T10-0276 - 2010 Tax Act as Considered by the Senate; Baseline: Current Law; Distribution by Cash Income Level, 2011

Distribution table by cash income levels showing the tax change from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as considered by the Senate against 2011 tax under under the Act, fitted to 2011 income levels.
December 12, 2010
Federal Budget and Economy

T10-0277 - 2010 Tax Act as Considered by the Senate; Baseline: Current Law; Distribution by Cash Income Percentile, 2011

Distribution table by cash income percentiles showing the tax change from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as considered by the Senate against 2011 tax under under the Act, fitted to 2011 income levels.
December 12, 2010
State and Local Issues: Research report

State Revenue Responses to Fiscal Shortfalls

The current economic downturn has resulted in a sharp decline in state tax revenues. Forty-six states faced budget shortfalls when passing their fiscal year (FY) 2011 budgets, and 17 states reported shortfalls of more than 20 percent. According to the National Association of State Budget Officers,
December 10, 2010Kim S. RuebenRitadhi Chakravarti
Federal Budget and Economy: 2011

T10-0270 - Joint Committee on Taxation Revenue Estimates for Senate Version of 2010 Tax Act; Impact on Tax Revenues, 2011-20

Revenue estimates on the "Tax Relief, Unemployment Reauthorization, and Job Creation Act of 2010" as scred by the Joint Committee on Taxation for years 2011 to 2020.
December 9, 2010
Individual Taxes: TaxVox

Obama Should Send His Fiscal Commission’s Budget Plan to Congress

If ever President Obama needed a reason to back the recommendations of his fiscal commission, the tax deal he’s just cut with congressional Republicans should...
December 9, 2010Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

The Obama-GOP Deal: A Tax Hike for the Working Poor

Ever since the 2008 presidential campaign, President Obama has argued passionately for extending the Bush-era tax cuts for all but the richest 2 percent of...
December 8, 2010Roberton C. Williams