The folks over at the Committee for A Responsible Federal Budget have added up the cost of Democratic presidential hopeful Hillary Clinton’s policy platform and how she’d finance it. And, lo and behold, it looks like she’d actually pay for nearly all she wants to do. In contemporary American politics, this is nothing short of amazing.
It is only April and we have heard presidential candidates propose some of the biggest and most ambitious tax plans i n modern US history. Donald Trump is proposing the largest tax cut ever, and Ted Cruz is not far behind. Bernie Sanders has proposed the biggest tax increase since World War II. But
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
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
After the Tax Policy Center published our analysis of Senator Cruz’s tax plan, the campaign told us that they also intend to expand the Earned Income Tax Credit (EITC) . This change would modestly increase after-tax incomes of low-income families while increasing the cost of the overall Cruz
When the Tax Hound began its monthly investigations a year ago, we had the modest goal of making tax policy relevant to the every-day concerns of the average taxpayer. At the time, I was drunk with wonky excitement (if that’s possible). “We elect a new president in a year, and we can help make tax policy matter to the average voter! There’ll be candidate proposals, analyses of those plans… It’ll be great!”
GOP presidential hopeful Ted Cruz’s aggressive plan to shift the tax code from a mostly income-based system to one based on consumption would slash federal revenues by $8.6 trillion over the next decade, according to a new Tax Policy Center analysis . Including interest costs, it would add $10.2
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