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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

Obama Wisely Calls for Boosting the EITC for Childless Adults

January 13, 2016

“Speaker [Paul] Ryan has talked about his interest in tackling poverty,” President Obama noted in his State of the Union speech.  “America is about giving everybody willing to work a chance, a hand up, and I’d welcome a serious discussion about strategies we can all support, like expanding tax cuts for low-income workers who don’t have children.”

In fact, President Obama and Speaker...


Puerto Rico Package Should Include Pro-Work EITC

December 4, 2015

As part of a robust response to Puerto Rico’s economic crisis, federal policymakers should let workers on the island qualify for the Earned Income Tax Credit (EITC) because Puerto Rico is tailor-made for the pro-work EITC — with its high poverty and unemployment and especially with its low official labor force participation.  The EITC draws people into the labor force, boosting jobs and...

Puerto Rico Has Higher Poverty & Unemployment, Lower Labor Force Participation

EITC Could Be Important Win for Obama and Ryan

November 16, 2015

“[Y]ou can oppose the president on some issue that you fundamentally disagree with, but also work with the other party on issues you do agree with,” new House Speaker Paul Ryan told CBS’ “60 Minutes” last night.  On one critical issue, Speaker Ryan and President Obama not only agree but have a nearly identical...


Former IRS Commissioners Decry Funding Cuts

November 11, 2015

In a sentiment with which we wholeheartedly agree, seven former IRS commissioners — from both Republican and Democratic Administrations — expressed concern over IRS budget cuts in a letter this week to House and Senate Appropriations Committee leaders. 


Private Debt Collectors the Wrong Approach for IRS

November 4, 2015

The highway funding bill before the House would require the IRS to outsource part of its tax enforcement to private debt collectors.  This policy has failed before — when it actually lost money for the government, according to the IRS — and remains misguided.  Lawmakers should delete this provision from the bill as it advances through Congress....

House Bill Would Cut IRS Enforcement Funding Further

Trump Tax Plan Would Expand Deficits, Give Biggest Tax Cuts at the Top

September 29, 2015

Donald Trump’s tax plan conflicts with his claim that it’s fully paid for and focused on average Americans.  In reality, the plan hemorrhages revenue and tilts heavily toward the wealthiest Americans.

It includes a number of expensive tax cuts — cutting the top individual and corporate tax rates sharply, to 25 and 15 percent, respectively; creating a special 15 percent rate for business...

1040 Tax Form

House Republicans Pushing Misguided Tax Policy

September 16, 2015

The House Ways and Means Committee will vote tomorrow on reinstating and permanently extending five tax breaks that expired at the end of 2014 — four “tax extenders” (tax breaks, mostly for businesses, that policymakers routinely extend for a year or two at a time) and “bonus depreciation,” which lets businesses take bigger upfront deductions for certain new purchases, such as equipment.  The...

Form 1040 And Refund Check