Congress writes the laws, but the IRS interprets them, and they can do so in ways that make the system more fair.
tax policy
Posted inEconomic Policy
Warren Plan Would Close Tax Loophole Joe Biden Uses
Biden makes use of the “Gingrich-Edwards” loophole to avoid payroll taxes.
Posted inEconomic Policy
The Republican War on the Capital Gains Tax
Faced with few other taxes left to cut, the Trump administration is innovating new ways to make tax revenue from investment income vanish.
Posted inHousing and Transportation
New Jersey Moves to Rein In Wasteful Tax Breaks for Businesses
Inspired by a recent Kansas-Missouri pact, Garden State lawmakers may warm to reforms that scale back competition with New York and Pennsylvania over jobs.
Posted inMoney, Politics, and Power
David Koch’s Heirs Will Enjoy the Biggest Tax Loophole Nobody Talks About
It’s called step-up in basis, and it wipes away all capital gains in his $50 billion estate.
Posted inEconomic Policy
The Shaky Case Against Wealth Taxation
Contrary to the skeptics, taxing wealth is both feasible and constitutional. It’s also the most progressive form of taxation available.
Posted inEconomic Policy
Kansas and Missouri Call a Truce in Corporate-Welfare Border War
Governments in both states have wooed Kansas City–area businesses with tax breaks to relocate across state lines. Now they’re partnering to stop the giveaways.
Posted inTAP
Taxing Remittances? How About Taxing the Rich When They Send Their Money Abroad?
The Trump hath tweeted, and proclaimed that he wants to subject Guatemalan imports to tariffs, and to subject the remittances that Guatemalan immigrants in the United States send back to their families in Guatemala to a tax. What, you may ask, has the little Central American nation done to deserve such treatment? Simple: Its Supreme […]
Posted inEconomic Policy
Can Vacancy Taxes Bring Down Housing Prices?
Some California cities may be willing to try them.
Posted inEconomic Policy
What’s Not to Like About the EITC? Plenty, It Turns Out.
The Earned Income Tax Credit subsidizes low-wage employers and increases low-wage work.