Estate Tax Archive
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Correcting Misunderstandings About Obama’s Latest Tax Offer Vs. Boehner’s “Plan B”
December 20, 2012
On the tax side of the “fiscal cliff” talks between President Obama and House Speaker John Boehner, the differences between Obama’s latest offer and Boehner’s “Plan B” proposal are far greater than much of the news coverage has suggested. The same holds true for the differences between … -
Policy Basics: The Estate Tax
Updated December 14, 2012
A long-standing part of the tax system, the estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. It is levied not on the full estate but rather on the portion of the estate’s value that exceeds a specified amount … -
Statement of Robert Greenstein, President, in Response to Republican Budget Offer
December 4, 2012
House Republican leaders portray the deficit-reduction offer that they issued yesterday as a fair middle ground. It isn’t. On the crucial issue of revenues, the new Republican offer proposes $800 billion over ten years. Contrast that with the plan that Erskine Bowles, Alan Simpson, and some members of their commission issued in December 2010, … -
State-Level Estimates Show Stark Contrasts Under Proposals To Extend Cut in Estate Tax While Failing to Extend Improvements in Tax Credits For Working Families
October 15, 2012
In recent proposals to extend expiring tax cuts beyond the end of the year, Republican leaders in the House and Senate have called for extending an estate-tax cut enacted in 2010 that provides a large tax break to the estates of the wealthiest 0.3 percent of Americans who die each year — about 7,000 people — while ending a … -
Chart Book: 10 Things You Need to Know About the Capital Gains Tax
Revised September 20, 2012
1. Capital gains tax rates are the lowest since the Great Depression. The capital gains tax rate on assets that have been held for more than one year is 15 percent for people above the 15 percent income tax bracket. (People in or below the 15 percent bracket owe no capital gains tax.) This is far below the top marginal tax rate on ordinary income — currently … -
Senate and House GOP Leaders' Tax Proposals Would Provide Windfall for Heirs of Largest Estates
Revised July 24, 2012
Senate and House Republican leaders are proposing to provide extremely large tax breaks averaging over $1 million per estate to the heirs of the biggest 0.3 percent of estates — that is, to the heirs of the richest three of every 1,000 people who die. The Senate and House leadership proposals each would do so by extending the … -
Blog Post: Greenstein on the Ryan Budget
March 21, 2012
We’ve issued a statement from Robert Greenstein on the budget from House Budget Committee Chairman Paul Ryan. Here’s the opening: The new Ryan budget is a remarkable document — one that, for most of the past half-century, would have been outside the bounds of mainstream discussion due to its extreme nature. In essence, this budget is … -
Statement of Robert Greenstein, President, on Chairman Ryan's Budget Plan
March 21, 2012
The new Ryan budget is a remarkable document — one that, for most of the past half-century, would have been outside the bounds of mainstream discussion due to its extreme nature. In essence, this budget is Robin Hood in reverse — on steroids. It would likely produce the largest redistribution of income from the bottom to the top in modern U.S.… -
Can Governor Romney’s Tax Plan Meet Its Stated Revenue, Deficit, and Distributional Goals at the Same Time?
March 2, 2012
Unveiling his tax plan on February 22, Governor Romney's campaign said it would: 1) make permanent President Bush's tax cuts (but not those enacted under President Obama, which are scheduled to expire at the same time and which expanded several refundable tax credits for low- and middle-income families); 2) then cut individual …
