We issued an analysis this morning of House Minority Leader John Boehner’s proposal to cut funding for discretionary (i.e., annually appropriated) programs other than defense, homeland security, and veterans and to extend all of President Bush’s tax cuts for two years, including those for the wealthiest Americans. Here are the highlights:
BEYOND THE NUMBERS
Today’s quiz topic is the federal estate tax, which is a tax on property – like cash, real estate, stock, or other assets – that is transferred from deceased persons to their heirs. Lawmakers will have to decide soon whether to make the current temporary repeal of the estate tax permanent or to renew the tax in some form.
Today, we sat down with Chuck Marr, the Center’s Director of Federal Tax Policy, to discuss upcoming Congressional action on the estate tax.
[audio: http://www.cbpp.org/files/09-07-10-estate-tax-final.mp3| titles=Podcast: Next Steps on the Estate Tax]
Chuck, let’s begin with a quick review of what the...
With Congress returning from recess next week, we’ll post a quiz each morning this week on a key issue facing lawmakers this fall. Today’s topic: President Bush’s 2001 and 2003 tax cuts, which are due to expire at the end of this year.
The Atlantic’s Megan McArdle has written another post about our comparison over the next 75 years of the Social Security shortfall and the cost of the Bush-era tax cuts for high-income taxpayers. The gist of Ms. McArdle’s argument seems to be that we’re not computing the present value of these two policies in the same way. That’s simply incorrect.
In today’s Wall Street Journal, Robert Rubin and Julian Robertson make some compelling arguments for restoring the federal estate tax (in “Bring Back the Estate Tax Now”).
Today we sat down with Chuck Marr, Director of Federal Tax Policy at the Center, to discuss the debate about taxes that will take center stage when Congress returns after Labor Day.