There is no shortage of alarmism when it comes to corporate taxes. Earlier this year, Mitt Romney said that the U.S. tax code “looks like it was devised by our worst enemy to tie us in knots.” A more recent memo drafted by the Senate Republican Caucus claimed that the “corporate income tax harms...
The current tax code is intrinsically unfair to the majority of Americans—the W-2 crowd—who work for a living and earn little money from capital gains or dividends. Nearly half of Americans own no stocks, for example. The Buffett Rule would only modestly reduce these inequities. Meanwhile, another...
Senior Fellow David Callahan appeared on FOX News' "The O'Reilly Factor" with Laura Ingraham and Erica Payne to call for a fairer tax rate on millionaires.
New York – Public interest in the tax rate of Warren Buffet's secretary, Mitt Romney's capital gains, and the rise of super wealthy supporters of Super PACs all point to an undeniable fact facing the United States: Our tax system is one that favors the wealthy and powerful increasingly at the...
A report issued on Thursday by the city government said Yonkers faced an $89 million shortfall for the next fiscal year, and $465 million over the following three years. The developments come as municipalities around the state and the nation face a growing fiscal crisis. In an interview, one of the...
One aspect of Paul Ryan’s new budget that hasn’t drawn much attention is that it is a big love letter to the Pentagon. Ryan rejects the idea that budgetary pressures should have any effect on defense spending, which he argues should be dictated purely by “strategic” calculations. Among other things...
Demos' Heather McGhee explains why the Buffett Rule is needed to address tax loopholes for capital gains and carried interest -- the very loopholes exploited by private equity investors.
Chalk one up for Occupy Wall Street. Last Thursday, the New York State legislature voted to raise taxes on high-earners after Governor Andrew Cuomo reversed his longstanding opposition to such a move. Cuomo cited a large budget gap in explaining his about-face, but that gap is hardly new. What is:...
Demos' Richard Brodsky goes on FOX Business to defend fair taxes for the wealthiest 1 percent, whose incomes have grown 275 percent since 1979 according to the Congressional Budget Office.