2016 election

Good Tax Ideas From Failed Presidential Candidates

As you think about the ambitious tax ideas being proposed by this season’s presidential hopefuls, keep this in mind: Sometimes, far-reaching tax policy ideas outlive the candidacies of those who promote them. Long after their races are distant memories, ideas that opponents mock in the heat of an

April 8, 2016Howard Gleckman

State and Local Issues: TaxVox

Note to Federal Tax Reformers: Don’t Forget the States

While most presidential candidates are proposing big, bold changes to the federal tax code, they seem to be paying little attention to what those revisions would mean for state and local governments. And those implications could be substantial. That, at least, was the consensus at today’s panel

March 31, 2016Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Cruz and Trump Would Slash Taxes on New Business Investment, But Cruz Would Cut Them More

Both Donald Trump and Ted Cruz say their tax plans would dramatically boost the economy by reducing taxes on new investment. According to the Tax Policy Center, both proposals would significantly cut taxes on investment and both would be far more generous than the Democratic hopefuls. However, Cruz

March 29, 2016Howard Gleckman

Federal Budget and Economy: TaxVox

Paul Ryan and The “Ridiculous Notion” of Tax Distribution

Last week, House Speaker Paul Ryan said in a CNBC interview that the distributional analysis of tax plans done by the Tax Policy Center, the Joint Committee on Taxation, and others is based on the “ridiculous notion” that the effect of tax changes on different income groups is important. Ryan, who

March 22, 2016Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

The Challenges of Modeling Presidential Tax Plans

The Challenges of Modeling Presidential Tax Plans The Committee for a Responsible Federal Budget sponsored a fascinating discussion yesterday on estimating presidential candidate tax plans. My Tax Policy Center colleague Len Burman, Kyle Pomerleau of the Tax Foundation, and Bob McIntyre of Citizens

March 10, 2016Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Clinton and Sanders Take Two Different Paths to Taxing the Rich

Let’s say you’re a Democrat who wants to raise taxes on rich people. It turns out there are two very different ways to do it: The direct, simple, in-your-face Bernie Sanders version and the indirect, complicated, back-door Hillary Clinton model. I’m not talking about the magnitude of their

March 7, 2016Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Sanders Proposes A Tax Increase of Historic Proportions

Democratic presidential hopeful Bernie Sanders has proposed a tax increase of $15.3 trillion over the next decade, according to a new analysis by the Tax Policy Center. The tax hikes-- which would help finance Senator Sanders’ ambitious new spending programs for health care, education, and family

March 3, 2016Howard Gleckman

Federal Budget and Economy: TaxVox

Rubio’s Ambitious Consumption Tax Would Reduce Revenue by $6.8 Trillion, Give Most Benefits to the Highest-Income Households

Senator Marco Rubio would convert the income tax into a progressive consumption tax, an ambitious idea that would eliminate the income tax’s penalty on saving. However, a new Tax Policy Center analysis finds that Rubio’s version would slash federal tax revenues by $6.8 trillion over the next decade

February 10, 2016Howard Gleckman

Business Taxes: TaxVox

What Are the Consequences of a Financial Transactions Tax?

All three Democratic presidential hopefuls, Hillary Clinton, Martin O’Malley, and Bernie Sanders, have proposed financial transactions taxes (FTTs). But could such a levy raise much money and reduce financial sector risk, as their supporters hope? Perhaps, according to a report by my Tax Policy

January 20, 2016Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Bernie Sanders Is Proposing Really Big Tax Increases

It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing , how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year

January 18, 2016Howard Gleckman