Just to be sure that no wealthy taxpayer is left behind, the Tax Act destroys the Alternative Minimum Tax.
Features
Posted inMoney, Politics, and Power
A Lost Opportunity to Help Small Business
For Main Street small businesses, the benefits of the Tax Act are peanuts. Nearly half of all the savings go to people making over $1 million a year.
Posted inMoney, Politics, and Power
The Harm to Affordable Housing
By cutting rates for the wealthy, the Tax Act slashes the value of the Low-Income Housing Tax Credit.
Posted inMoney, Politics, and Power
How the Tax Act Undercuts Health-Care Reform
Ending the individual mandate will inflate premiums in the Obamacare marketplaces—especially for the middle class.
Posted inMoney, Politics, and Power
How to Restore Taxes on Inheritances
With the estate tax further weakened, is it time to pivot to an inheritance tax?
Posted inMoney, Politics, and Power
The Tax Act Actually Promotes Off-Shore Tax Tricks
The Tax Act creates additional incentives to shift income offshore for purposes of tax avoidance, and what is worse, it creates incentives to shift actual jobs.
Posted inMoney, Politics, and Power
Why the Tax Act Will Not Boost Investment
Will lower corporate taxes generate an investment boom? The evidence suggests not.
Posted inMoney, Politics, and Power
How the Tax Act Embodies the Republican Culture of Corruption
The Tax Act is a Christmas tree of special-interest tax breaks. The only thing more corrupt than the substance was the way it was enacted.
Posted inMoney, Politics, and Power
Demonizing the IRS to Protect Tax Evaders
Weakening tax enforcement combined with new complexity invites evasion and massive illicit tax savings for the rich.
Posted inMoney, Politics, and Power
Want to Expand the Economy? Tax the Rich!
If Democrats want to win big in November, they must do more than just renounce trickle-down economics. They need to replace it.