To help pay for expanded health insurance coverage, the health reform legislation enacted in 2010 included a new 3.8 percent tax on the net investment income of high-income taxpayers. When it goes into effect in 2013, it will increase the top tax rate on capital gains, dividends, and other...
In his campaign for the Republican presidential nomination, Rick Santorum has proposed permanently extending the 2001–10 tax cuts and further reducing individual income taxes, cutting the corporate income tax rate in half, eliminating the estate tax, and repealing the alternative minimum tax and...
In a contribution to the Christian Science Monitor, Donald Marron discusses hopes for the global economy and the political leaders struggling to keep it on an even keel.
In a contribution to the Christian Science Monitor, Donald Marron agrees that there are good reasons for a simpler tax system, as found in the flat-tax plans of GOP hopefuls Perry, Gingrich, and Cain. But they need to be made more progressive to amount to real tax reform that can pass muster...
This article was published as part of the Tax Note series "The Legacy of the TRA '86." As current budget pressure forces us to consider tax reform as a means of raising revenue, past reforms provide us some valuable lessons. Reforms typically begin with a consensus that something is broken and...
Herman Cain’s plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute three taxes imposed at a 9 percent rate: a 9 percent “national sales tax,” a 9 percent “business flat tax,” and a 9 percent “individual flat tax.” Based...
Currently, taxpayers can deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their primary residence or a second designated residence. In addition, taxpayers can deduct interest on up to $100,000 in home equity loans or other loans secured by their properties...
We present new estimates of the budget outlook, based on the latest projections from the Congressional Budget Office and the Medicare and Social Security Trustee reports. The medium-term and long-term budget outlook have not changed appreciably since last year. Under reasonable assumptions, the...
Health Reform's Tax on Investment: Facts and Myths
To help pay for expanded health insurance coverage, the health reform legislation enacted in 2010 included a new 3.8 percent tax on the net investment income of high-income taxpayers. When it goes into effect in 2013, it will increase the top tax rate on capital gains, dividends, and other...
The Santorum Tax Plan
In his campaign for the Republican presidential nomination, Rick Santorum has proposed permanently extending the 2001–10 tax cuts and further reducing individual income taxes, cutting the corporate income tax rate in half, eliminating the estate tax, and repealing the alternative minimum tax and...
Twelve Days of Christmas Hopes for Tough Economy, Deadlocked Congress
In a contribution to the Christian Science Monitor, Donald Marron discusses hopes for the global economy and the political leaders struggling to keep it on an even keel.
Real Tax Reform: Flat-Tax Simplicity with a Progressive Twist
In a contribution to the Christian Science Monitor, Donald Marron agrees that there are good reasons for a simpler tax system, as found in the flat-tax plans of GOP hopefuls Perry, Gingrich, and Cain. But they need to be made more progressive to amount to real tax reform that can pass muster...
Tax Reform: Lessons From History
This article was published as part of the Tax Note series "The Legacy of the TRA '86." As current budget pressure forces us to consider tax reform as a means of raising revenue, past reforms provide us some valuable lessons. Reforms typically begin with a consensus that something is broken and...
The Plan Needs to Be Recalibrated
In the New York Times' Room for Debate, Bill Gale discusses the ambiguous details of Herman Cain's 9-9-9 tax proposal.
Herman Cain's 9-9-9 Tax Plan
Herman Cain’s plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute three taxes imposed at a 9 percent rate: a 9 percent “national sales tax,” a 9 percent “business flat tax,” and a 9 percent “individual flat tax.” Based...
Options to Reform the Deduction for Home Mortgage Interest
Currently, taxpayers can deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their primary residence or a second designated residence. In addition, taxpayers can deduct interest on up to $100,000 in home equity loans or other loans secured by their properties...
Tempting Fate: The Federal Budget Outlook
We present new estimates of the budget outlook, based on the latest projections from the Congressional Budget Office and the Medicare and Social Security Trustee reports. The medium-term and long-term budget outlook have not changed appreciably since last year. Under reasonable assumptions, the...
Guide to Tables: Governor Pawlenty Tax Plan
This short guide explains how the Tax Policy Center calculated the distributional effects of Governor Pawlenty’s tax reform proposals.