Tax Policy

Representative Keith Ellison held a press conference yesterday outside the Capital building in Washington, D.C. to announce the reintroduction of a bill that would tax financial transactions on Wall Street. The Inclusive Prosperity Act, which was first introduced last year and is supported by many...
04/18/2013
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A basic principle of smart tax reform is that we should shift away from taxing good behaviors, like work and wealth creation, to taxing bad behavior, like pollution and speculation.  If you want to see how this might work in practice, take a look at the new budget from the Congressional...
03/19/2013
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The wealthy are remarkably adept at feeling vicitimized, despite their unprecedented income gains over the past few decades and their unparalleled level of political clout in a democracy where money equals free speech.  An AP article this morning in USA Today will surely feed these...
03/04/2013
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If tax reform goes forward this year, as some leaders in Congress hope, one thing is certain: It won't be an elegant exercise in representative democracy. Think more interest group feeding frenzy.  To see what may lie ahead, I've been reading the classic inside account of the 1986 tax reform...
02/20/2013
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President Obama came out strongly for tax reform in his State of the Union address, casting this challenge as crucial for raising for new revenue and avoiding harsh cuts. Obama argued that the U.S. could: save hundreds of billions of dollars by getting rid of tax loopholes and deductions for the...
02/14/2013
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State tax systems, according to a new report from the Institute for Taxation and Economic Policy, take a far larger share of income from their lowest income residents than they do from the wealthy, exacerbating income inequality within and between states, encouraging the wealthy to move to low tax...
02/13/2013
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While the IRS aims to increase EITC participation through last week's EITC Awareness Day, the agency has another, equally challenging goal: increase EITC participation without increasing fraud, which, according to a report from the Treasury Inspector General for Tax Administration, costs the IRS...
02/04/2013
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A quarter of the eligible recipients do not take advantage of the Earned Income Tax Credit. So it's a good thing that tomorrow, February 1, will be the seventh annual "EITC Awareness Day," with the IRS rolling out a virtual assistant on its website, and working with accountants and financial...
01/31/2013
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This is the headline we should really be seeing after last night's fiscal cliff deal. As a result of the deal, the bulk of the Bush tax cuts will remain permanently in place, the AMT will be eliminated, and Obama's stimulus tax cuts, mainly aimed at the working poor, will live on for another five...
01/02/2013
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While tax hikes on the affluent have gotten most of the attention in the fiscal cliff deal, an equally important story is how proposals for further stimulus spending died a quiet death in Washington over recent weeks. Obama's original fiscal cliff offer included $425 billion in stimulus ...
12/24/2012
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