TaxVox: High-income households

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The voices of Tax Policy Center's researchers and staff

Individual Taxes

$4 Trillion In US Wealth Is Stashed Overseas, Much Of It In Tax Havens

March 28, 2023 –
$4 Trillion In US Wealth Is Stashed Overseas, Much Of It In Tax Havens A handful of extremely wealthy US taxpayers holds trillions of dollars...
California Governor Gavin Newsom giving a speech
Individual Taxes

Congress Failed To Raise Taxes On Millionaires. Now States Are Trying.

October 3, 2022 –
President Biden’s plan to raise taxes on very high-income households died in Congress. But the idea of lives on. Initiatives on November ballots in California...
Individual Taxes

How Democrats Who Want To Tax The Very Wealthy Are Taking A Page From Thomas Paine

May 10, 2022 –
Did President Biden and other Democrats read 18 th century revolutionary Tom Paine before they proposed their taxes on extreme wealth? Hard to know, but...
Individual Taxes

The Many Ways To Tax The Rich

March 31, 2022 –
How to tax the rich? Let us count the ways. New taxes on capital income? Higher income tax rates? A wealth tax? Some mash-up of...
Individual Taxes

Hill Democrats Shift From Raising To Cutting Taxes On The Merely Rich

December 21, 2021 –
Democrats started this year with President Biden’s proposal to raise taxes on high-income households as a way to help pay for an ambitious social spending...
Individual Taxes

Pro Publica’s Billionaires: Stories Behind the Story

June 15, 2021 –
Pro Publica’s recent story about the small amount of tax paid by many of the nation’s billionaires has focused new attention on what critics say...

Five Tax Questions to Ask When Looking at President Biden’s Budget

May 27, 2021 –
President Biden on Friday is set to unveil his first full budget along with Treasury’s Green Book, which will provide the first detailed look at...
Business Taxes

Too Many IRS Audits of Big Businesses Result In No Change In Tax Liability

April 19, 2021 –
Change can be good, right? Maybe or maybe not. But if you are the Internal Revenue Service, “no change” audits never are good. And, for...
Federal Budget and Economy

New Data Tools and Methods Can Help Federal Policymakers Create More Equitable Tax Policy

March 22, 2021 –
On his first day in office, President Biden signed an executive order acknowledging the toll of structural racism in the United States and initiating a...
State and Local Issues

Are State and Local Tax Systems Colorblind?

March 10, 2021 –
Tax policies are commonly viewed as race-neutral or “colorblind”— simply because information on race or ethnicity is not reported on tax returns or explicitly referenced...