TaxVox: Income tax (individual)

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The voices of Tax Policy Center's researchers and staff

Individual Taxes

Want To Know Why A Wealth Tax Won’t Work? Remember The Time Michael Jackson’s Estate Landed in Tax Court

July 12, 2021 –
If you want to know why a wealth tax would be an administrative nightmare, take a look at the dispute over the estate of pop...
State and Local Issues

State Pass-Through Entity Taxes Let Some Residents Avoid the SALT Cap at No Cost to The States

June 24, 2021 –
This week, Colorado became the 14 th state to either require or allow some pass-through businesses such as partnerships to pay state income taxes at...
Individual Taxes

Biden’s Tax Plan May Make Congress Come to Grips With The Question: What Is Income?

May 26, 2021 –
Tax bills almost always force Congress to think about how to define income, but President Biden’s campaign promise to never raise taxes for those making...

Should Government Use Tax Incentives to Encourage People to Get The COVID-19 Vaccine?

May 5, 2021 –
Tax incentives can encourage action that supports the public good—like lifting children out of poverty, giving to charity, pursuing higher education, or using alternatives to fossil fuels. How about helping end a global pandemic?
Individual Taxes

SALT Cap Repeal Would Overwhelmingly Benefit High Income Households

April 23, 2021 –
Households making $1 million or more a year would receive half the benefit of repealing the $10,000 federal cap on the state and local tax...

President Biden’s No Tax Hike Pledge Problem

March 24, 2021 –
Nobody making under 400,000 bucks would have their taxes raised. Period. Bingo. – Joe Biden, May 22, 2020 Enacting good tax policy is hard under...
Individual Taxes

Are The American Rescue Plan’s Tax Cliffs Really Such A Big Deal?

March 23, 2021 –
Are American Rescue Plan’s Tax Cliffs Really Such A Big Deal? Economists hate cliffs. But the tax cliffs in the ARP may not be so bad.
Individual Taxes

Biden’s Pandemic Relief Bill Is One of The Biggest One Year Tax Cuts in Modern US History

March 16, 2021 –
Talk about playing against type: The tax cuts in President Biden’s American Rescue Plan (ARP) are among the biggest one-year tax reductions in modern US...
Federal Budget and Economy

Pandemic Bill Would Cut Taxes by An Average of $3,000, With Most Relief Going to Low- And Middle-Income Households

March 8, 2021 –
Pandemic bill would Cct taxes by an average of $3,000, with most relief going to low- and middle-income households, according to a new TPC analysis...
Federal Budget and Economy

Congress Could Make COVID-19 Relief Payments Fairer, Less Costly, and More Stimulative

February 11, 2021 –
Republicans and some leading economists have raised concerns about the cost, fairness, and stimulative effects of proposed cash payments in the pandemic relief legislation Congress...