Taxes
  • What to Look For in Trump’s 2021 Budget: CBPP

    By Michael Rainey

    President Trump’s agenda for a possible second term is still on the drawing board, according to The Wall Street Journal’s Andrew Restucci, and aides are reportedly in the early stages of drafting...

  • U.S. President Trump delivers State of the Union address at the U.S. Capitol in Washington

    5 Whoppers From Trump’s State of the Union Address

    By Michael Rainey

    President Trump delivered a polarizing, reality-show tinged State of the Union address Tuesday in which he claimed credit for three years of solid economic growth while making more than 30 “dubious...

  • A cyclist passes the U.S. Capitol in Washington

    Fiscal Policy Still Boosting the Economy, but Not For Long

    By Michael Rainey

    Tax and spending policies at the local, state and federal level boosted economic growth in the fourth quarter of 2019, according to the newly updated Hutchins Center Fiscal Impact Measure from the...

  • The American Dream Alive and Well in ... Finland?

    By Michael Rainey

    Bernie Sanders’s opponents routinely accuse him of being a “socialist” bent on importing nefarious foreign values to the U.S., and President Trump took that approach one step further this past...

  • Bloomberg Proposes $5 Trillion in Taxes on the Rich, Corporations

    By Michael Rainey

    Michael Bloomberg released a tax plan Saturday that aims to raise $5 trillion from high-income households and corporations over 10 years to pay for new spending on education, infrastructure and...

  • 4 Potential Reforms for the Capital Gains Tax

    By The Fiscal Times Staff

    Reforming the capital gains tax is one way to simultaneously address both rising inequality and growing federal deficits, say William G. Gale and Grace Enda of the Brookings Institution. The current...

  • U.S. President Trump departs for travel to Louisiana from the White House in Washington

    Trump’s ‘Four Pinocchio’ Tax Claim

    President Trump routinely lies or makes exaggerated, unsupported and misleading claims. The Washington Post’s most recent tally of such statements topped more than 15,400 over Trump’s first 1,055...

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

    How the GOP Will Attack Bernie Sanders' Wealth Tax

    By Michael Rainey

    We highlighted yesterday a defense of wealth taxes from Gabriel Zucman, a liberal economist who has advised both Elizabeth Warren and Bernie Sanders on their tax proposals. On Friday, a pair of...

  • 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...