Tax Policy Center

individual taxes

Federal Budget and Economy: TaxVox
At first glance, GOP presidential hopeful Jeb Bush’s tax reform plan is a standard lower-the-rates, broaden-the-base overhaul of the revenue code. But a closer look shows a something-for-everyone stew filled with interesting ingredients—most basic GOP fare but seasoned with a few surprising ideas.
September 9, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
Congress is back. Fiscal deadlines loom. Presidential candidates have tax plans to propose. It isn’t clear how much lawmakers will accomplish in the next four months, but it will be a busy and interesting fall. Here are five stories to watch: International Tax Reform : House Republicans insist they
September 8, 2015Howard Gleckman
Individual Taxes: TaxVox
The other day, I wrote about new Congressional Budget Office estimates that individual income tax revenues are likely to grow significantly over the next decade. A new paper by my Tax Policy Center colleagues Jim Nunns and Jeff Rohaly shows the importance of this trend through the rest of the
September 3, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
Republicans and some Democrats in Congress are pressing to repeal the Affordable Care Act’s Cadillac tax—a 40 percent excise tax on high-cost employer-sponsored health insurance plans. Backers of repeal argue that curbs on these generous plans would disproportionately hurt low- and middle-income
July 23, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
In what her campaign billed as a major economic policy speech today in New York, Democratic presidential frontrunner Hillary Clinton outlined her agenda for what she described as a Growth and Fairness Economy. And while she included a number of tax proposals, few were new. Indeed, the speech was
July 13, 2015Howard Gleckman
Individual Taxes: TaxVox
Just about every tax reform plan calls for cutting individual tax rates. But it turns out that a one percentage point across-the-board rate cut would benefit only about six out of 10 households. The biggest beneficiaries: those with the highest incomes. According to a new Tax Policy Center analysis
July 2, 2015Howard Gleckman
Individual Taxes: TaxVox
In testimony yesterday before a joint hearing of two House subcommittees, I urged Congress to modernize the nation’s social welfare programs to focus on early childhood, quality teachers, more effective work subsidies, and improved neighborhoods. One way lawmakers can shift their gaze is by
June 26, 2015C. Eugene Steuerle
Individual Taxes: TaxVox
Remember when people complained that hedge fund managers and private equity firm owners paid a lower tax rate than many workers? Or when Warren Buffett said he shouldn’t pay a lower rate than his secretary? In those cases, investors were benefiting from low capital gains rates, but at least they
June 24, 2015C. Eugene Steuerle
Individual Taxes: TaxVox
It is easy to mock Senator Marco Rubio, who cashed out $68,241 in IRA retirement funds last September. The GOP presidential hopeful, who made about $230,000 last year, told Fox News he needed the dough to prepare for his campaign, buy a new $3,000 refrigerator, and fix his busted a/c. As it happens
May 26, 2015Howard Gleckman
Individual Taxes: TaxVox
Back in the day—say 2011--tax fraud was pretty straightforward. Taxpayers deliberately understated income or overstated deductions to cheat the system for their own benefit. Not anymore. Now, a growing share of such fraud is about crooks using the identities of innocent taxpayers to steal money. If
May 14, 2015Howard Gleckman