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Ryan’s Skewed Tax Priorities

April 26, 2011

We released a report today examining the tax proposals in House Budget Committee Chairman Paul Ryan’s budget plan, which the House approved on April 15. As it explains, those proposals:

Turning Tax Expenditures Right Side Up

April 18, 2011

The federal government spends more than $1 trillion a year on “tax expenditures” — spending delivered through the tax code via credits, deductions, and other targeted tax breaks. That’s more than it spends on Social Security, or on Medicare and Medicaid combined. There’s growing bipartisan interest in curtailing tax expenditures as a way to help reduce deficits, and if done right, it could also make the tax code more efficient and equitable, as our new report explains.

Corporate Tax Holiday an Even Worse Idea the Second Time Around

April 11, 2011

A coalition of large multinational corporations has launched a major lobbying campaign for a temporary “repatriation tax holiday” that would allow companies to bring foreign-generated profits back to the United States at a strikingly low tax rate of about 5 percent. They’re promoting the measure as a cost-free way to boost domestic investment and jobs — the same pitch that proponents used to sell Congress on a similar tax holiday enacted in 2004.

Ryan Plan’s “Path to Prosperity” Is Just for the Wealthy

April 6, 2011

House Budget Committee Chairman Paul Ryan’s name for his budget — “The Path to Prosperity” — is a cruel joke.

Put High Income Tax Cuts Back on the Budget Negotiating Table

March 7, 2011

We’ve previously discussed how the House Republican proposal to cut $66 billion in non-security discretionary spending — everything from K-12 education to clean water funds to medical research — in the current fiscal year (2011) would affect millions of middle- and lower-income families in communities all across America.

What Should Corporate Tax Reform Look Like?

March 1, 2011

With Congress likely to consider corporate tax reform this year, we’ve issued a report outlining the tests that a well-designed reform proposal should meet:

Tackling Corporate Tax Reform

February 2, 2011

David Leonhardt’s excellent piece in today’s New York Times explains that while the U.S. statutory corporate tax rate is relatively high, the amount that U.S. corporations actually pay in taxes — the effective tax rate — is much lower. A primary reason, he notes, is that our corporate code is riddled with tax preferences that significantly reduce many corporations’ taxes and have created wide disparities in effective tax rates across the economy.

Estate Tax Cut a Bitter Pill to Swallow

December 8, 2010

The provisions of the new deal on tax cuts and unemployment insurance that would give a huge windfall to the heirs of the nation’s wealthiest estates cannot be justified on the grounds of either economic growth or fiscal responsibility.

What About the Obama Tax Cuts?

December 3, 2010

Senate Republicans vowed this week to block all legislation until the Senate “prevented the tax increase that is currently awaiting all American taxpayers.” But despite all the public attention to the ongoing tax debate, few seem to recognize that the major GOP tax proposals that have been put forward — such as those from Senate Minority Leader Mitch McConnell and from Congressman Mike Pence and Senator Jim DeMint — wouldn’t extend President Obama’s expiring tax cuts, only President Bush’s.

Time to Let the High-End Tax Cuts Expire

December 1, 2010

As the House prepares to vote tomorrow on whether to extend President Bush’s tax cuts for families making under $250,000, it’s worth revisiting the main reasons why it would be unwise to extend the tax cuts for families making over $250,000 at the same time, as many in Congress favor.