Tax Policy Center

payroll tax

Campaigns, Proposals, and Reforms: TaxVox

Bernie Sanders Is Proposing Really Big Tax Increases

It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing , how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year
January 18, 2016Howard Gleckman
Federal Budget and Economy: TaxVox

CBO Sees a Big Increase in Individual Income Tax Revenues Over the Next Decade

In its semi-annual fiscal update released this week, the Congressional Budget Office projects that federal revenues will remain flat over the next decade, while spending—mostly for health care and Social Security—will rise. The result: Budget deficits, which have been declining in recent years as
August 27, 2015Howard Gleckman
Individual Taxes: TaxVox

For Most Households, It’s About the Payroll Tax, Not the Income Tax

While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80 million tax filers making $40,000 or less will collectively
April 2, 2015Howard Gleckman
Individual Taxes: TaxVox

A Payroll Tax Math Error Adds $5 Billion To The Deficit

Nothing gets lawmakers and pundits more outraged than government’s proverbial waste, fraud, and abuse. Nearly always, these stories involve spending. But taxes are hardly immune. One case of pure waste involves a simple math mistake that will cost the Treasury $5 billion in lost revenue over the
July 1, 2014Howard Gleckman
Individual Taxes: TaxVox

Taxing Employer-Sponsored Insurance Would Hike Social Security Benefits But Boost Federal Coffers

The tax subsidy for employer-sponsored health insurance is huge. Not only are the premiums exempt from income tax, they are also immune from Social Security payroll tax. The two subsidies combined will add more than $1.6 trillion to the deficit over the next five years alone. But because that
May 8, 2014Howard Gleckman
Federal Budget and Economy: TaxVox

Individual Income Taxes May Soon Generate Half of All Federal Tax Revenue

Over the next decade, the individual income tax will be the fastest growing source of federal revenue, according to new estimates by the Congressional Budget...
February 6, 2014Howard Gleckman
Individual Taxes: TaxVox

Eight in Ten U.S. Households Pay Social Security and Medicare Taxes

While relatively few low-income people pay federal income tax, a large and growing share owe Social Security and Medicare payroll taxes, according to new estimates...
September 12, 2013Howard Gleckman
Individual Taxes: TaxVox

IRS Recognizes Same-Sex Marriages, Regardless of Where Couples Live

Just two weeks ago, I discussed potential tax issues a same-sex married couple could face if they live in a state that doesn’t recognize their...
August 30, 2013Roberton C. Williams
Individual Taxes: TaxVox

An Opportunity to Really Fix Social Security

The White House has put out the word that President Obama’s budget will propose changing the way government adjusts benefits for Social Security and other...
April 9, 2013Howard Gleckman
Individual Taxes: TaxVox

How Much Will 2013’s Payroll Tax Hikes Cut Your Take-Home Pay?

2013 is a tough year if you owe payroll tax, as most of us do. Not only did the 2010 payroll tax cut die at...
April 5, 2013Roberton C. Williams