Before Congress sacrifices needed public investments or puts programs that serve middle-class families at risk in the name of deficit reduction, it should ensure that the estate tax is actually paid by the few wealthy estates still subject to it.
Issue Brief Reducing or reforming certain tax breaks for high-income individuals and corporations could raise $1 trillion in revenue over 10 years.
Closing the carried interest loophole should be a part of any significant deficit-reduction or tax-reform effort.
Our new plan addresses some of the most serious flaws in the federal tax code while raising additional revenue to be used for deficit reduction, and at the same time offering changes to government spending.
Report In order to secure our fiscal future and achieve meaningful deficit reduction over the next 10 years, we need a plan that combines progressive, revenue-enhancing tax reform with pragmatic spending cuts that do not undermine the middle class, the poor, or seniors.
Seth Hanlon looks at three typical military families to see how they would fare under the House Republican tax plan being voted on today. Hint: It’s not good for them.
The House should drop its insistence on continued tax cuts for high incomes and join the Senate in enacting tax relief for 98 percent of households, write Seth Hanlon and Sarah Ayres.
Seth Hanlon points out that Sen. McConnell’s tax plan would let tax credits for working parents and families paying for college expire while extending all high-income tax cuts.
Seth Hanlon explains why closing the so-called Gingrich-Edwards loophole, which allows certain well-heeled professionals avoid taxes, is an obvious and fair way to hold down the cost of student loans.
Michael Linden points out the many flaws in Washington Post columnist Robert J. Samuelson’s argument that the wealthy don’t hold sway over federal policy.
Issue Brief Michael Linden examines how our tax code has grown less effective at dampening income inequality, and how various proposals to reform the code would affect inequality.
This chart from Michael Linden shows how the wealthiest Americans have enjoyed more income with lower taxes since 1993. Asking them to pay their fair share should be part of any deficit reduction plan.
Seth Hanlon and Sarah Ayres detail three reasons why the “Fair Share Act” is good for our nation alongside three reasons why its critics are off base.
The House Republican budget proposal is not about making the tax code simpler; it’s about making it less progressive, says Seth Hanlon.
Matt Separa explains how the new work-sharing provision of the payroll tax bill will preserve jobs, benefit businesses, and bolster the economy even during a recession.