Taxes
  • The U.S. Capitol Building is shown at sunset in Washington

    Is a Wealth Tax a ‘Very American Idea’?

    By Michael Rainey

    The wealth tax proposed by Democratic presidential candidates Elizabeth Warren and Bernie Sanders has broad support among the American public. A Hill-HarrisX survey last year found that 74% of...

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

    Why the IRS Is Struggling to Do Its Job

    By Michael Rainey

    The IRS doesn’t have enough funding or personnel to do its job properly, according to the 2019 annual report from the Taxpayer Advocate Service, an independent organization within the Internal...

  • IRS, activist lawyers to clash in court over tax preparer rules

    Good News for Tax Cheats: IRS Audit Rate Drops to Lowest in More Than 40 Years

    By Michael Rainey

    The annual IRS report we told you about yesterday revealed that the agency audited just 0.45% of individual tax returns in 2019. That marks the eighth year in a row the audit rate has dropped, says...

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

    Another Look at Trump’s Tax Cuts

    By Michael Rainey

    The Tax Cuts and Jobs Act has been on the books for two years now, prompting The Wall Street Journal’s Richard Rubin and Theo Francis over the weekend to review how the law has fared so far. A few...

  • IRS Looks Back at 2019, Gets Set for 2020

    By Michael Rainey

    “The IRS touches more Americans than any other entity, public or private,” Internal Revenue Service Commissioner Chuck Rettig said in the agency’s annual report released Monday. The document provides...

  • U.S. President Trump meets with Schumer and Pelosi at the White House in Washington

    Trump and Lawmakers Dig In for a Shutdown

    By Michael Rainey

    Neither side in the battle over President Trump’s border wall appears to be budging, raising the odds of a partial government shutdown come Friday night. “Spending discussions have stalled, with no...

  • FILE PHOTO: A sign on an insurance store advertises Obamacare in San Ysidro

    3 Key Questions About the Obamacare Court Ruling

    The fate of Obamacare may once again wind up before the Supreme Court now that a federal judge in Texas has ruled that the law is unconstitutional. U.S. District Court Judge Reed O'Connor ruled on...

  • District of Columbia

    CBO Offers 121 Ways to Shrink the Deficit

    By The Fiscal Times Staff

    The Congressional Budget Office has released a 326-page guide that describes dozens of ways the federal government could reduce its large and growing budget deficit. The 121 policy options included...

  • U.S. President Trump participates in tour of U.S.-Mexico border wall prototypes near Otay Mesa Port of Entry in San Diego, California

    Boxed In by Trump, GOP Hurtles Toward a Shutdown

    By Michael Rainey

    House Republicans considered moving forward with a bill that would have given President Trump the $5 billion he has demanded for border wall construction, but it looks like they’re leaving town...

  • Marco Rubio, 44

    Marco Rubio’s Surprise Critique of the GOP Tax Bill

    By Michael Rainey

    Sen. Marco Rubio (R-FL) tackled the decline of the American dream in an essay published by The Atlantic Thursday, and in doing so offered some sharp criticism of the 2017 Republican tax overhaul – a...