In a contribution to the New York Times' Room for Debate, Kim Rueben argues if the tax rate for marijuana is too high, people will continue to buy weed from the guy on the street. However, setting the tax rate too low leaves revenue on the table and use might boom.
This document reviews several notable tax proposals in President Obamas Fiscal Year 2014 Budget. These include a 28 percent limit on certain tax expenditures, a cap on tax preferences for retirement savers with high balances, a minimum tax ("Buffett Rule") on high-income taxpayers, alternative...
Small businesses occupy an iconic place in American public policy debates. This paper discusses interactions between the federal tax code, small business, and the economy. We summarize the characteristics of small businesses, identify the tax provisions that most affect small businesses, and...
Discussions of the effect of taxes on international competitiveness usually focus on corporate income tax rates, but individual income tax rates may also affect a countrys (or states) ability to compete for workers.
This paper attempts first to clarify tax rules concerning charitable contributions by reorganizing section 170 and simplifying the language, where possible, so that the operative rules will be clearer. In addition, a revision of the estate and gift tax provisions, intended to increase uniformity...
Steven Rosenthal's testimony before the House Subcommittee on Select Revenue Measures of the Committee on Ways and Means on the Discussion Drafts proposals to reform the tax rules for derivatives and securities investments.
Taxpayers can currently deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their personal residences and interest on up to another $100,000 of home equity loans. This brief estimates the effects on revenue and the distribution of the tax burden of proposals...
Extending the charitable deduction deadline is a move with precedent: the government has used it to encourage giving following a natural disaster. However, temporary laws have limited effect. Consider instead allowing charitable deductions made by April 15, aka tax day, to be applied to the...
The U.S. faces substantial and unsustainable budget deficits, which will require tax increases and spending cuts to resolve. A carbon tax could raise revenues, with several positive effects: it would improve environmental outcomes, increase economic efficiency, and allow the elimination of...
Finding Just the Right Tax Rate
In a contribution to the New York Times' Room for Debate, Kim Rueben argues if the tax rate for marijuana is too high, people will continue to buy weed from the guy on the street. However, setting the tax rate too low leaves revenue on the table and use might boom.
Analysis of Specific Tax Provisions in President Obama's FY2014 Budget
This document reviews several notable tax proposals in President Obamas Fiscal Year 2014 Budget. These include a 28 percent limit on certain tax expenditures, a cap on tax preferences for retirement savers with high balances, a minimum tax ("Buffett Rule") on high-income taxpayers, alternative...
Options to Reform the Home Mortgage Interest Deduction
Eric Toder's testimony before the U.S. House of Representatives Committee on Ways and Means in a hearing on tax reform and residential real estate.
Small Business, Innovation, and Tax Policy: A Review
Small businesses occupy an iconic place in American public policy debates. This paper discusses interactions between the federal tax code, small business, and the economy. We summarize the characteristics of small businesses, identify the tax provisions that most affect small businesses, and...
Top Individual Income Tax Rates: How Does the U.S. Compare?
Discussions of the effect of taxes on international competitiveness usually focus on corporate income tax rates, but individual income tax rates may also affect a countrys (or states) ability to compete for workers.
The Charitable Contribution Deduction: Section 170 Reorganized
This paper attempts first to clarify tax rules concerning charitable contributions by reorganizing section 170 and simplifying the language, where possible, so that the operative rules will be clearer. In addition, a revision of the estate and gift tax provisions, intended to increase uniformity...
Financial Products Tax Reform Discussion Draft
Steven Rosenthal's testimony before the House Subcommittee on Select Revenue Measures of the Committee on Ways and Means on the Discussion Drafts proposals to reform the tax rules for derivatives and securities investments.
Options to Reform the Deduction for Home Mortgage Interest
Taxpayers can currently deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their personal residences and interest on up to another $100,000 of home equity loans. This brief estimates the effects on revenue and the distribution of the tax burden of proposals...
Extending the Charitable Deduction Deadline to Tax Day
Extending the charitable deduction deadline is a move with precedent: the government has used it to encourage giving following a natural disaster. However, temporary laws have limited effect. Consider instead allowing charitable deductions made by April 15, aka tax day, to be applied to the...
Carbon Taxes as Part of the Fiscal Solution
The U.S. faces substantial and unsustainable budget deficits, which will require tax increases and spending cuts to resolve. A carbon tax could raise revenues, with several positive effects: it would improve environmental outcomes, increase economic efficiency, and allow the elimination of...