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...

  • Trump Still Mulling Capital-Gains Tax Cut: Report

    President Trump is apparently still considering a plan to cut capital-gains taxes. The Wall Street Journal’s Andrew Restuccia and Kate Davidson report that Trump was set to discuss with his economic...

  • The $15 Trillion Phantom

    By Michael Rainey

    A staggering amount of foreign direct investment is really just “phantom” capital passing through corporate shells, typically to avoid taxes, according to a new study published by economists at the...

  • New York City Mayor Bill de Blasio delivers remarks at his 2018 Inaugural Ceremony at City Hall in Manhattan, New York

    Bill de Blasio Calls for a Robot Tax

    In a piece for Wired , the peripatetic New York mayor and Democratic presidential candidate warns that “automation in our economy is increasing far faster than most people realize, and its impact on...

  • U.S. Treasury Secretary Mnuchin discusses the Trump administration's budget plan during the Peterson Foundation's 2017 Fiscal Summit  in Washington

    Mnuchin Talks More Tax Cuts

    By Michael Rainey

    Treasury Secretary Steven Mnuchin said Monday that a White House push for another round of tax cuts is a possibility in 2020. “And regards to a middle-class tax cut, you know, we’ll be looking at tax...

  • Mark Sanford speaks at the LPAC conference in Chantilly, Virginia

    Trump Gets a Fiscally Focused Challenger

    By Michael Rainey

    Mark Sanford announced Sunday that he is running for president, becoming the third Republican to challenge President Trump for the nomination in 2020. The former South Carolina congressman said he...

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