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Countdown to Tax Day: Tax Code Favors Foreign Profits

April 13, 2016

Tax Day is a timely reminder that wage and salary earners, and small and domestic businesses, pay taxes on their income and profits each year to pay for the nation’s priorities, ranging from safer highways to health care for the elderly, a soldier’s gear, and diabetes research.  Yet many multinational corporations effectively get to choose each year whether and how much U.S. tax to pay on...

Multinationals Have Strong Tax Incentive to Earn and Report Profits Offshore

Countdown to Tax Day: Spending Through the Tax Code

April 11, 2016

One area of the federal tax code that’s ripe for reform is “tax expenditures” — or subsidies delivered to individuals or businesses through deductions, exclusions, and other tax...


Countdown to Tax Day: IRS Funding Falls Far Short of Need

March 30, 2016

The Internal Revenue Service (IRS) plays a fundamental role in our system of government — helping taxpayers comply with the tax code, ensuring that the tax laws are enforced fairly and credibly, and collecting nearly all of the revenue that funds federal programs from defense to the safety net, roads, scientific research, and education.  While policymakers should give the IRS the resources...


Countdown to Tax Day: Permanent EITC and CTC Improvements Are an Anti-Poverty Achievement

March 29, 2016

There’s understandable skepticism that lawmakers will act this year to correct the glaring flaw in the tax code that taxes childless adults into or deeper into poverty.  But...

Working Family Tax Credits Help at Every Stage of Life

Countdown to Tax Day: Bipartisan Proposals Advance Principle That Childless Workers Shouldn’t Be Taxed Into Poverty

March 28, 2016

As I’ve explained, childless adults are the lone group that the federal tax code taxes into or deeper into poverty.  Fortunately, policymakers of both parties — including President Obama and House Speaker Paul Ryan, as well as Senate Finance Committee member Sherrod Brown and House Ways...


Countdown to Tax Day: 8 Million Childless Workers Taxed Into Poverty

March 25, 2016

Federal taxes are generally designed to ensure that federal income and payroll taxes don’t tax people into — or deeper into — poverty.  The glaring exception is childless adults, more than 8 million of whom are, in fact, taxed into or deeper into poverty.

That’s mostly because they’re largely excluded from the Earned Income Tax Credit (EITC), which, for them, is too small (or, for many...


Countdown to Tax Day: The United States Is a Low-Tax Country

March 24, 2016

A large share of Americans likely think they face higher taxes than people in other countries, partly because of claims like those from GOP presidential candidate Donald Trump.  Those claims are wrong.  The United States is, and always has been, a low-tax country. 

Among members of the Organisation for Economic Co-operation...

The United States Is a Low-Tax Country

Countdown to Tax Day: Where Do Federal Tax Revenues Come From?

March 23, 2016

Yesterday’s post in this series focused on where federal tax dollars go.  Today we examine where they come from. 

The individual income tax is the largest federal tax, generating close to half of federal revenues.  It’s progressive,...


Countdown to Tax Day: Where Do Our Federal Tax Dollars Go?

March 22, 2016

Across the country, many people are putting final touches on their tax returns while many others are eagerly awaiting refunds.  As Tax Day — which this year is April 18 for most filers — approaches, we’ll highlight ten federal tax charts to provide some tax policy context.


Trump’s Tax Misstatement

March 4, 2016

Republican presidential candidate Donald Trump has repeatedly (here and here) said the United States is a high-tax country. ...

The United States Is a Low-Tax Country