• Social Security and Medicare taxes

    Democrat's New Taxes Wouldn't Hit Just Billionaires

    By Michael Rainey

    Some Democratic tax proposals are focused on making millionaires and billionaires pay more, but other households would be affected as well. Neil Irwin of The New York Times points out Tuesday that...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    An Easy Way to Get $1 Trillion More in Tax Revenue?

    By Michael Rainey

    The first step in reforming the U.S. tax system doesn’t involve raising rates or eliminating deductions, say former Treasury Secretary Lawrence Summers and Penn Law professor Natasha Sarin. Instead,...

  • FedEx cuts forecast as air freight weakness hits profit

    FedEx Battles New York Times Over Trump’s Tax Cuts

    By Michael Rainey

    The New York Times published a piece Saturday highlighting the huge windfall FedEx received from the 2017 GOP tax cuts — and the company’s CEO isn’t happy with the analysis. According to the Times,...

  • FILE PHOTO - Visitors attend the 26th Monaco Yacht show in Monte Carlo port

    Tax Break for Poor Neighborhoods Is Helping Build a Superyacht Marina

    By Michael Rainey

    The 2017 Tax Cuts and Jobs Act created special “opportunity zones” that give investors generous tax breaks in exchange for investing in low-income neighborhoods. The purpose of the tax law is “to...

  • Democratic 2020 U.S. presidential candidate Warren speaks at a SEA/SEIU Local 1984 Member Town Hall in Concord

    Elizabeth Warren Escalates Her Battle With Billionaires

    By Michael Rainey

    Elizabeth Warren’s proposed wealth tax has ruffled quite a few feathers among America’s billionaire class, and her rhetorical battle with the superrich entered a new phase Wednesday when investor...

  • 2020 Democratic U.S. presidential candidate and U.S. Senator Bernie Sanders speaks during a campaign event in West Branch, Iowa

    Bernie Sanders’ New Inequality Tax Targets High CEO Pay

    By Michael Rainey

    Bernie Sanders released a plan Monday that would penalize companies that pay their CEOs far more than their average workers. The proposal is designed to combat rising income inequality, Sanders said...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    What Tax Cheats (and Mistakes) Cost the IRS

    The Internal Revenue Service on Thursday said that the annual “tax gap,” the difference between federal taxes owed and the amount actually collected, averaged $441 billion from 2011 to 2013. Of that...

  • FILE PHOTO:  U.S. President Trump displays signature after signing tax bill into law at the White House in Washington

    4 Lessons from the Tax Cuts and Jobs Act So Far

    By Michael Rainey

    Most tax experts agree that it’s too soon to make any final conclusions about the Tax Cuts and Jobs Act, which has been in effect for less than two years and contains provisions that seek to...

  • U.S. Senators Sanders listens as Senator Warren speaks on the first night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, U.S.

    Bernie Sanders's Wealth Tax Targets the Very Rich

    By Michael Rainey

    Senator Bernie Sanders released a proposal Tuesday for a wealth tax designed to raise trillions of dollars while significantly reducing the fortunes of some of America’s richest households. Saying he...

  • The deadline is approaching to report large foreign bank accounts to the IRS.

    Mapping Tax Havens

    By Michael Rainey

    Multinational corporations routinely shift billions of dollars around the world to reduce their tax bills. In 2016, according to researchers from the University of California at Berkeley and the...

Taxes Directory

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