You Pay Your Fair Share. Shouldn’t Wall Street?

You Pay Your Fair Share. Shouldn’t Wall Street?

Did you pay all of your taxes this April? Wall Street banks typically pay much less than the official 35 percent corporate tax rate. And yet after attacking Hillary Clinton for her ties to Wall Street, President Donald Trump is pushing reforms that would make it even...
Marching for Trump Tax Transparency

Marching for Trump Tax Transparency

Candidate Trump repeatedly promised to release his past tax returns, once they were no longer being audited. But those promises have failed to materialize, and Trump appears to have no plans to release his 2016 returns either. This makes him the first president in 40...
Trump’s Trickle-Down Ticket

Trump’s Trickle-Down Ticket

It was easy to get caught up in the circus that was the Republican National Convention. Rousing speeches (plagiarized and original) and raucous floor votes make for great television and funny internet memes. Unfortunately, as we’ve come to expect from events organized...
Paul Ryan’s “A Better Way” Proposal is Anything But

Paul Ryan’s “A Better Way” Proposal is Anything But

We just knew that House Speaker Paul Ryan’s latest tax reform proposal was going to be bad for working families. Year after year, after all, Ryan has been bringing forward – in the name of fiscal conservatism – some variation of a plan to take from the poor and...
Rubio: Eliminate Taxes on All Capital Gains?

Rubio: Eliminate Taxes on All Capital Gains?

Bad tax policy ideas never die, they just get recycled. The latest retread is GOP candidate Marco Rubio’s proposal to entirely eliminate taxes tax on capital gains income. A preferential tax rate on capital gains has always been a staple of GOP tax policy. But only...
Burning Our Bridges

Burning Our Bridges

To generate funds to shore up our nation’s crumbling infrastructure, the U.S. Congress is considering giving corporations large tax cuts on their offshore profits. Under current law, corporations can defer U.S. tax payments on overseas earnings until they bring the...
A Tax Cut for Tax Cheats

A Tax Cut for Tax Cheats

If the most frequently dialed federal agency in America can’t even answer two-thirds of the millions of phone calls it gets, should the government cut its budget? Congress thinks so. That agency is the Internal Revenue Service (IRS). And lawmakers have hacked at its...
The Poison Pill of Tax Cuts

The Poison Pill of Tax Cuts

A quiz: Which candidates and presidents said the following? (Answers below.) “To repair the nation’s tax code, marginal rates must be brought down to stimulate entrepreneurship, job creation, and investment.” “We must follow through on the...
Economic Rapture Might Be around the Corner

Economic Rapture Might Be around the Corner

It’s January 25, 2001, the first week of the Bush presidency and more than half a year before the September 11 attacks. Federal Reserve Chairman Alan Greenspan testifies before the Senate Budget Committee, asserting: “If current policies remain in place,...
A Decade of Magical Tax-Cut Thinking

A Decade of Magical Tax-Cut Thinking

Republican leaders in Congress have a one-point program for whatever ails the nation: cut taxes for millionaires and large corporations. Got a revenue surplus? Cut taxes. Got a budget deficit? Cut taxes. Got a toothache? Cut taxes. These politicians are like my uncle...
Unnecessary Austerity, Unnecessary Shutdown

Unnecessary Austerity, Unnecessary Shutdown

“We’re broke.” Or so claim governors and lawmakers all over the country. Our states and our nation can no longer afford, their plaint goes, the programs and services that Americans expect government to provide. We must do with less. We need...

Do You Pay Your Taxes? Bank of America Doesn’t

In 2009 and 2010, according to their SEC K-10 report, filed on Friday, Bank of America paid no income taxes. Meanwhile, the federal government and many state governments, facing large budget shortfalls, are cutting services and benefits that help the poor and middle...
The Turko-Persian Tandem

The Turko-Persian Tandem

In a region beset by conflicts, economic insecurity, and intermittent military interventions, two countries have emerged as independent, often assertive, centers of power: Iran and Turkey. Instead of competing for regional dominance – as they did during the...

The Problem with the Obama Tax Compromise

The Obama “tax compromise” proposal extends tax cuts for high-income households and institutes a greatly diminished federal estate tax. President Obama argues that he wants to change the politics of Washington and not hold unemployment benefits and middle...