Taxes
  • Number of the Day: A $600 Billion Tax Gap?

    The most recent IRS estimate of the tax gap — the amount of taxes owed but not paid voluntarily or in a timely manner — put the net figure at $406 billion a year from 2008 to 2010. But William G...

  • Most Americans Got a Tax Cut This Year – but Most Don’t Think They Did

    By Michael Rainey

    The Tax Policy Center estimates that about 65 percent of households got a tax break on their 2018 incomes – but taxpayers aren’t seeing it that way. “If you’re an American taxpayer, you probably got...

  • Corporate Taxes Are Lower Than Ever

    By Michael Rainey

    The GOP’s 2017 tax overhaul slashed the top corporate tax rate from 35% to 21% and, not surprisingly, business income tax revenues have dropped sharply. A combination of lower tax rates and more...

  • 		<p>Limit itemized deductions to 15 percent, with special provisions to maintain incentives for charitable giving.</p>    <p>      <strong>Broader benefits to U.S. economy</strong>      <br />Raises revenue more efficiently by reducing tax expenditures;

    Enthusiasm for GOP Tax Cuts Has All but Disappeared: Survey

    By Michael Rainey

    Consumer sentiment dropped slightly in the latest University of Michigan survey, with the index registering 96.9 in April, compared to 98.4 in March. Richard Curtin, the survey’s chief economist,...

  • Are US Workers More Highly Taxed Than They Think?

    By Michael Rainey

    Workers in many industrialized countries pay more in taxes than Americans do, but those workers also receive more benefits in exchange – benefits that American workers pay for separately. As a result...

  • Trump on the $22 Trillion National Debt: 'Growth Will Straighten It Out'

    By Michael Rainey

    President Trump was asked at his wide-ranging press conference Friday about the roughly $2 trillion increase in public debt during the first two years of his administration: Question: Let me also ask...

  • 		<p>Limit itemized deductions to 15 percent, with special provisions to maintain incentives for charitable giving.</p>    <p>      <strong>Broader benefits to U.S. economy</strong>      <br />Raises revenue more efficiently by reducing tax expenditures;

    Poll of the Day: Democrats and Taxes

    By The Fiscal Times Staff

    Democrats and Republicans receive roughly equal grades when it comes to the question of which party is best suited to handle taxes, according to an analysis by Navigator , a polling and research...

  • Amazon unveils effort to develop original TV shows

    Amazon Pulls the Plug on NYC Headquarters

    By Michael Rainey

    Amazon is canceling its plan to build a corporate campus in New York City, the company announced Thursday. The decision comes following months of local criticism of the project, in which the company...

  • The Great Debt Debate: How Dangerous Is It?

    By Michael Rainey

    MIT economist Olivier Blanchard caused a stir in fiscal circles last month with an academic paper suggesting that current levels of public debt may be less worrisome than many experts think (see our...

  • Eighty-four percent of Americans receiving refunds intend to pay down debt, save or invest.

    Why Smaller Tax Refunds Could Ding the Economy

    By Michael Rainey

    Although tax season has only just begun, early data from the IRS shows that the average individual tax refund is 8.4 percent smaller so far this year. Some critics have been quick to blame the...

Taxes Directory

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