TaxVox: Campaigns, Proposals, and Reforms

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The voices of Tax Policy Center's researchers and staff

Campaigns, Proposals, and Reforms

Clarification on Senator Obama's Social Security plans

June 15, 2008 –
We've heard from the Obama campaign about our blog post on Senator Obama's Social Security tax increase on people earning more than $250,000. The campaign clarified that the threshold would be $250,000, but Senator Obama has not specified what the rate would be, when it would take effect, whether it would apply to employers, employees, or both, or what the tax base would be.
Campaigns, Proposals, and Reforms

Senator Obama Feeds Social Security a Donut Hole

June 13, 2008 –
In preparing our analysis of the candidates’ tax plans, we sent descriptions to each campaign for comment/clarification/correction. Senator Obama’s staff asked us not to include his reported support for a Social Security tax on earnings above $200,000 or $250,000, saying that there was no specific proposal. So we left the Social Security proposal out of our core analysis. We also left out Senator McCain’s proposal for an optional alternative tax system on similar grounds. We did discuss these non-proposals in two sidebars in our analysis.
Campaigns, Proposals, and Reforms

Obama and the Economy: Fighting The Wrong War

June 12, 2008 –
Barack Obama looks at the U.S. economy and worries about recession—which he would cure with a $50 billion stimulus bill. Increasingly, Fed Chairman Ben Bernanke looks at the same economy and sees inflation—which he would treat by raising interest rates.
Campaigns, Proposals, and Reforms

TPC Looks at the Obama and McCain Tax Plans

June 11, 2008 –
In the first detailed analysis of the Barack Obama and John McCain tax plans, the Tax Policy Center has run their proposals through the Big Computer and discovered that their schemes are, well, painfully predictable. Each would raise the national debt by trillions of dollars. Obama would use the money to provide modest tax cuts to low- and moderate-income people while imposing stiff tax hikes on the very wealthy. McCain would cut taxes a bit for the working-class and a lot for the rich.
Campaigns, Proposals, and Reforms

What Will Obama Do with a Cap and Trade Windfall?

June 3, 2008 –
Interesting confluence of events: Barack Obama is about to wrap up the Democratic Presidential nomination and the Senate has begun debating a major plan to cap carbon emissions—an idea Obama strongly supports.
Federal Budget and Economy

Tax Extenders and Fiscal Responsibility

May 29, 2008 –
For another take on my debate with George Yin on whether temporary tax breaks are a good idea George) or not (me), take a look...
Federal Budget and Economy

Paul Ryan’s Fiscal Roadmap

May 27, 2008 –
Kudos to Rep. Paul Ryan (R-WI), the senior Republican on the House Budget Committee, for proposing an ambitious plan aimed at bringing government spending under control over the next 75 years. Actually, Ryan would do even more than that. He’d also restructure the tax code, Social Security, Medicare, and Medicaid.
Individual Taxes

Temporary Laws and Fiscal Restraint

May 27, 2008 –
Howard Gleckman continues to think that temporary tax cuts are no better than permanent ones from the standpoint of enhancing political accountability and fiscal restraint (“Tax Extenders and Fiscal Restraint,” May 22, 2008). So here’s some data.
Individual Taxes

Tax Extenders and Fiscal Restraint

May 22, 2008 –
It was good to hear from University of Virginia tax professor and former Joint Tax Committee boss George Yin. George argues that temporary tax cuts are a good idea because they force Congress to consider the costs and benefits of these measures before renewing them. This reckoning, he says, imposes more political accountability on the system, not less.
Campaigns, Proposals, and Reforms

Cap’n Trade: McCain Weighs In

May 13, 2008 –
Yesterday, John McCain disclosed details of his plan to cut the use of fossil fuels—and thus greenhouse gases--through a cap and trade system of mandatory emissions reductions. As we have written, cap’n trade is not the name of a cheesy seafood restaurant. It is Washington-speak for a huge new tax on oil, gas, and coal. This is a good thing, but we ought to talk about it honestly.