The Supreme Court upheld Congress’s taxing authority, at least for taxing undistributed corporate profits. But what about Congress’s authority to tax other unreceived profits, like unrealized capital gains or other capital income?
Former President Trump’s proposal to exempt all tips from federal tax would benefit few tipped workers and hurt many. Tax-free tips might help a relatively...
In a surprise move, New York’s Democratic Governor Kathy Hochul indefinitely delayed New York City’s first-in-the-nation congestion pricing plan on Wednesday. Lawmakers created the Central...
This spring the IRS received more than 139 million individual income tax returns. Those returns give filers the option to direct a few of their tax dollars to the Presidential Election Campaign Fund (PECF). Eligible presidential candidates can use the money to help cover qualified expenses of their political campaigns in both the primary and general elections. But many of us decline the option. Do we not need or want it anymore?
Slowing climate change has been a signature issue for President Biden. But Biden also has been an ardent booster of American manufacturing. Recently, he imposed...
In a recent New York Times column (paywall), Berkeley economist Gabriel Zucman calculated that the highest-income Americans pay only about 23 percentof their income in...
Cities, counties, and other local governments have traditionally relied on property taxes as a substantial and stable revenue stream. But with remote work taking hold...
