Taxes

How Alexandria Ocasio-Cortez Is Already Shifting the Debate on Taxes and Deficits

By Yuval Rosenberg

Alexandria Ocasio-Cortez, the youngest woman ever elected to Congress, has wasted no time in making waves in Congress, emerging as a focal point for the national press — and social media powerhouse...
The Great Debt Debate

By Michael Rainey

We told you last week about a new paper from economist Olivier Blanchard that caused a stir by suggesting that government debt may be less problematic than many experts have believed. Blanchard found...
Economists: It's Time for a Carbon Tax That Pays Dividends

By Michael Rainey

Dozens of prominent economists with extensive experience in government service signed a statement in Thursday’s Wall Street Journal calling for a carbon tax. “Global climate change is a serious...
How 4 Big US Companies Used Their Tax Cuts

By Michael Rainey

Bloomberg’s Laura Davison looked at what some major American corporations did with the tax cut windfalls they received in 2018. How did Apple, Walt Disney, Visa International and Starbucks use their...
Is the ‘Era of Tax Reductions’ Over?

By Michael Rainey

If Greg Valliere, chief global strategist at Horizon Investments, is correct, Wall Street should be worried about the rise of Rep. Alexandria Ocasio-Cortez (D-NY). In a note to clients Wednesday,...

The Ongoing Fight Over Ocasio-Cortez’s 70% Top Tax Bracket

By Michael Rainey

The lively debate over the proposal by Rep. Alexandria Ocasio-Cortez (D-NY) to raise the top marginal tax rate to 70 percent continues, as it no doubt will for many months to come, with former...
Tax Cuts Still Not Paying for Themselves

By Michael Rainey

The latest budget data shows, once again, that the tax cuts are not paying for themselves. “It’s time to put to rest any notion that President Trump’s signature tax cuts are paying for themselves...
Ocasio-Cortez’s Tax Bombshell: Is a 70% Top Rate Too High, or Not High Enough?

By Michael Rainey

Political Rorschach test Rep. Alexandria Ocasio-Cortez (D-NY) sparked a lively fiscal debate this week after suggesting in an interview that the top marginal tax rate in the U.S. should be as high as...
Deficit Jumped Over First Months of Fiscal 2019, on Pace to Top $1 Trillion for the Year

By Yuval Rosenberg

The federal deficit jumped $92 billion in the first three months of fiscal 2019, up 41 percent from the same period in 2018, according to estimates published by the Congressional Budget Office on...
House Democrats’ Budget Will Call for Raising Corporate Taxes

By The Fiscal Times Staff

The new Democratic House Budget Committee chairman said Friday that the fiscal 2020 budget blueprint his chamber produces will seek to raise revenue by increasing the corporate tax rate from the...

The Worst Tax Idea of 2018

By Michael Rainey

The Urban-Brookings Tax Policy Center on Thursday handed out its annual Lump of Coal award for the worst tax idea of the year. The impressive list of nominees from TPC’s Howard Gleckman include: *...
States See Record Tax Revenues

By Michael Rainey

State tax revenues topped $1 trillion for the first time in the 2018 fiscal year, according to a preliminary analysis by the Urban-Brookings Tax Policy Center. Much of the growth in revenues during...
Whatever Happened to That 10% Middle-Class Tax Cut?

By Michael Rainey

Shortly before the midterm elections, President Trump said his administration was working on a tax cut for middle class. “We are going to be putting in and are studying very deeply right now, around...
The Tax Bill One Year Later

By Michael Rainey

As the Republican tax bill approaches its one-year anniversary, numerous scholars and critics are taking a look at its performance so far. Here are some highlights from recent reviews: Fiscal policy...
Democrats Prepare to Direct Fire at the GOP Tax Bill

By Michael Rainey

Democrats take control of the House on January 3 and are already planning their attack on the year-old Republican tax bill. Rep. Richard Neal (D-MA), incoming chair of the tax-writing House Ways and...