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The Tax Code’s Foreign Tilt

March 28, 2013

A new Washington Post analysis of how the tax code encourages multinational corporations to shift investments and U.S.-earned profits to foreign tax havens — that is, very low-tax...

The Ryan Budget’s Skewed Tax Cuts

March 20, 2013

We’ve shown that the $5 trillion in non-defense program cuts in House Budget Committee Chairman Paul Ryan’s new budget are heavily weighted toward low-income programs.  At the same time, based on the latest estimates from the Urban-Brookings Tax Policy Center (TPC), we now...

Both Sides Have Offered Higher Revenues Than Those in Fiscal Cliff Deal

February 22, 2013

“Without new revenues, safe and sane deficit reduction is impossible,” the New York Times asserts today.  We agree.

To date, spending cuts have accounted for the bulk of the policy savings enacted to shrink deficits.  On the spending side, Congress has enacted...

Growing Tax Avoidance by Multinationals Undermines Competition, OECD Warns

February 15, 2013

Multinational corporations are becoming more aggressive at avoiding taxes through techniques like shifting profits overseas, according to a new report from the Organisation for Economic Co-operation and Development (OECD), a group of 36 mostly developed countries including the United States.  U.S. policymakers should heed that warning as they...

Even a Less Than “Pure” Territorial Tax System Carries Serious Risks

February 1, 2013

A White House official told Politico yesterday that the President doesn’t support a “pure” territorial tax system, under which U.S.-based multinational corporations would face a zero or very low tax rate on their foreign profits.  That’s good news — but even a less than “pure” territorial system carries serious risks.

As our...

Switching to “Territorial” Tax System Would Carry Serious Risks

January 31, 2013

Adopting a so-called “territorial” tax system, as some multinational corporations are lobbying Congress to do (see today’s press release from the Business Roundtable), would create greater tax incentives for multinationals to invest and move profits overseas rather than in the United...

Two Things You Probably Don’t Know About “Plan B”

December 20, 2012

As our new paper explains, key aspects of the “Plan B” tax bill that House Republicans will bring to the floor today — which would extend President Bush’s tax cuts on incomes up to $1 million and certain other tax cuts — aren’t widely understood.  The graphs here highlight two of them.

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Why We Shouldn’t Raise the Bush Tax Cut Threshold

December 6, 2012

5-30-12tax.jpgWith policymakers divided over letting President Bush’s tax cuts on incomes above $250,000 per couple ($200,000 for single filers) expire on schedule, some have proposed raising that threshold so that only the tax cuts on incomes over $500,000 or $1 million per couple would expire.  That’s a terrible idea.  Raising the threshold would slash the deficit savings, and,...

How Many Workers in Each State Would Benefit from Extending the Payroll Tax Cut?

December 3, 2012

Now that President Obama has made the payroll tax cut — which expires at the end of the month — part of the tax debate, let’s look at how many workers have a direct stake in extending it for one more year.  We estimate that more than 150 million workers would benefit, including large...

Will High-Income People Work Less if the High-Income Tax Cuts Expire?

November 30, 2012

Senate Minority Leader Mitch McConnell (R-KY) claimed yesterday that allowing the top two income tax rates to rise to Clinton-era levels would harm the...