Taxes

The Fiscal Challenge for the Next Recession

By Yuval Rosenberg

The federal budget deficit for fiscal year 2019 was nearly $1 trillion. “In the next downturn, don’t be surprised if this number hits $2 trillion,” writes Nick Timiraos, The Wall Street Journal’s...
Investors Eye Volatility from ‘Fiscal Dysfunction’

By Michael Rainey

Reviewing its outlook for 2020, the investment team at New York fund manager Neuberger Berman recently discussed the economic risks associated with “fiscal dysfunction” – the government’s inability...
Biden: Trump Tax Cuts ‘a Disaster for the Middle Class’

By Michael Rainey

Joe Biden has been criticized by his fellow Democrats for insisting that as president he would be able to work with the Republican Party – the same party that rejected much of the Democratic economic...
After Trump’s Cuts, US Taxes Are Fourth Lowest in the Developed World

By Michael Rainey

Total U.S. taxes as a share of the economy fell to 24.3% last year, thanks in large part to the tax cuts signed into law by President Trump in 2017, the Organization for Economic Cooperation and...
Biden Unveils $3.2 Trillion Tax Plan Targeting Corporations Like Amazon

By Yuval Rosenberg

Joe Biden rolled out a plan Wednesday to raise $3.2 trillion in additional taxes over 10 years, with the wealthy and corporations paying more to cover the cost of spending proposals on health care,...

Bad News for Charity on Giving Tuesday

By Michael Rainey

“Despite Giving Tuesday and despite all the charitable appeals that almost certainly landed in inboxes, charitable donations by individuals declined by slightly more than 1 percent in 2018, according...
Only One Demographic Group Opposes Warren’s Wealth Tax

By Yuval Rosenberg

The idea of a wealth tax like the one proposed by Sen. Elizabeth Warren is popular with a broad swath of voters, Ben Casselman and Jim Tankersley of The New York Times report . A new nationwide poll...
Chart of the Day: Record Low Poverty Rate

By Michael Rainey

The extensive array of government assistance programs — including Social Security, unemployment insurance, veterans’ benefits, nutritional aid, rental assistance and the Earned Income Tax Credit —...
Public Investment Is the Key to Avoiding Economic Stagnation: Report

By Michael Rainey

Economic stagnation on a global scale is a growing threat, according to a new report from the Organization for Economic Co-operation and Development (OECD). The group’s November economic outlook...
Pushing Back Against the Wealth Tax at the Dem Debate

By Michael Rainey

Sen. Elizabeth Warren defended her proposed wealth tax at the Democratic presidential debate on Wednesday night: “I’m tired of freeloading billionaires,” Warren said . “I think it's time that we ask...

Warren Says She’ll Release a Medicare for All Finance Plan

By Michael Rainey

Under pressure from competitors and journalists covering the Democratic presidential nomination race, Elizabeth Warren said Sunday that she would release details “over the next few weeks” to explain...
Are Democrats Too Afraid of Raising Taxes?

By Michael Rainey

One of the crucial unanswered questions hanging over the democratic debate on Medicare for All is how its proponents plan to pay for it. While Bernie Sanders has made it clear that he would raise...
The $30 Trillion Question Haunting Elizabeth Warren’s Campaign

By Yuval Rosenberg

There’s a $30 trillion question looming over Elizabeth Warren’s presidential campaign: How would she fund the cost of the Medicare-for-All plan she proposes? The issue was the subject of repeated...
Moderate Dems (Cautiously) Critique Warren Wealth Tax

By Yuval Rosenberg

Tuesday night's Democratic presidential debate saw moderate Democrats battle with Senators Elizabeth Warren and Bernie Sanders over their proposals for a wealth tax. Both Warren and Sanders have...
A Look at How Far Corporate Tax Rates Have Fallen

By Michael Rainey

A chart from Howard Silverblatt of S&P Dow Jones Indices shows just how far corporate tax rates have fallen since the Tax Cuts and Jobs Act was passed. According to Silverblatt's calculations,...