Taxes
  • The Incredible Shrinking Tax Rate for the Rich

    By Michael Rainey

    The highest-income households in the U.S. have seen an enormous reduction in their overall tax burdens since 1950, a development highlighted Sunday by The New York Times’ columnist David Leonhardt,...

  • Would a Warren/Sanders Wealth Tax Kill the Economy?

    By Michael Rainey

    As Democratic presidential candidates debate a variety of new social programs, from universal health care to free higher education, Elizabeth Warren and Bernie Sanders are calling for a wealth tax to...

  • IRS: Sorry, but It’s Just Easier and Cheaper to Audit the Poor

    By Paul Kiel, ProPublica

    The IRS audits the working poor at about the same rate as the wealthiest 1% . Now, in response to questions from a U.S. senator, the IRS has acknowledged that’s true but professes it can’t change...

  • Senator Elizabeth Warren delivers a major policy speech  in Washington

    Elizabeth Warren Wants to Tax Corporate Lobbying

    By Michael Rainey

    Elizabeth Warren released a proposal to tax companies that spend more than $500,000 a year on lobbying the federal government. The goal of the plan is to “end lobbying as we know it,” Warren said in...

  • Tents and tarps erected by homeless people are shown along the sidewalks in the skid row area of downtown Los Angeles, California

    Rising Income Inequality Is a Fiscal Risk: Moody’s

    Income inequality in the United States last year reached the highest level since the Census Bureau started tracking it more than 50 years ago, even as median household income also reached a nominal...

  • New York Governor Andrew Cuomo speaks to the media in Havana

    Judge Rejects State Challenge to SALT Deduction Limit

    By Michael Rainey

    A lawsuit by four states challenging the cap on state and local tax deductions was dismissed Monday by a federal judge. The states – New York, New Jersey, Connecticut and Maryland – claimed that the...

  • 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...

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