payroll tax

: TaxVox

How New York State Responded to The SALT Deduction Limit

While other states are considering workarounds to the Tax Cut and Jobs Act’s (TCJA) $10,000 annual limit on the federal deduction for state and local...

May 14, 2018Frank Sammartino

Campaigns, Proposals, and Reforms: TaxVox

Did Donald Trump take advantage of the Gingrich-Edwards payroll tax loophole?

New information surfaced today that suggests that Donald Trump may not only have used aggressive tax planning to reduce his income tax bill to zero,...

October 7, 2016Steven M. Rosenthal

Individual Taxes: TaxVox

Most Americans Pay More Payroll Tax Than Income Tax

Americans agonize each spring over their annual federal income tax returns. In terms of how much tax they pay, however, they should worry more about...

September 6, 2016Roberton C. Williams

Campaigns, Proposals, and Reforms: TaxVox

Swapping The Employer Share of The Payroll Tax For a Consumption Tax

Would you be willing to swap a new, broad-based consumption tax for your employer’s share of the Social Security and Medicare payroll tax? According to...

July 6, 2016Howard Gleckman

Individual Taxes: TaxVox

Busting Political Myths About Federal Taxes

A new Congressional Budget Office report does a nice job of busting some of the most persistent tax myths of both the political left and...

June 9, 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

Federal Budget and Economy: TaxVox

CBO Sees a Big Increase in Individual Income Tax Revenues Over the Next Decade

In its semi-annual fiscal update released this week, the Congressional Budget Office projects that federal revenues will remain flat over the next decade, while spending—mostly for health care and Social Security—will rise. The result: Budget deficits, which have been declining in recent years as

August 27, 2015Howard Gleckman

Individual Taxes: TaxVox

For Most Households, It’s About the Payroll Tax, Not the Income Tax

While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80 million tax filers making $40,000 or less will collectively

April 2, 2015Howard Gleckman

Individual Taxes: TaxVox

A Payroll Tax Math Error Adds $5 Billion To The Deficit

Nothing gets lawmakers and pundits more outraged than government’s proverbial waste, fraud, and abuse. Nearly always, these stories involve spending. But taxes are hardly immune. One case of pure waste involves a simple math mistake that will cost the Treasury $5 billion in lost revenue over the

July 1, 2014Howard Gleckman

Individual Taxes: TaxVox

Taxing Employer-Sponsored Insurance Would Hike Social Security Benefits But Boost Federal Coffers

The tax subsidy for employer-sponsored health insurance is huge. Not only are the premiums exempt from income tax, they are also immune from Social Security payroll tax. The two subsidies combined will add more than $1.6 trillion to the deficit over the next five years alone. But because that

May 8, 2014Howard Gleckman