News
Politico | Boehner to urge reform of tax code
Speaker John Boehner plans Thursday to urge the supercommittee charged with cutting the nation’s deficit to overhaul the tax code, his most direct remarks about the path the panel should undertake.
Politico | Obama jobs plan: Raise taxes on health care
Nearly imperceptible to all but the most trained tax policy eyes, President Barack Obama’s blueprint to boost employment hinges partly on a provision that makes health plans taxable for individuals who make more than $200,000 and couples making more than $250,000.
Econ Comments
Cato Institute | Cut Defense before Raising Taxes
A leaked memo from supercommittee documents includes proposals for a 5.4 percent surtax on families earning $1 million or more, an increase in the estate tax, and the usual hodgepodge of taxes on oil companies, hedge-fund managers, corporate-jet owners, and others who have drawn the Democrats' ire.
Reports
CRS | The Impact of Refundable Tax Credits on Poverty Rates
Specifically, on its own the EITC lifts 22% of its eligible recipients out of poverty. The other tax credits have smaller effects on reducing poverty rates among eligible recipients. The child tax credit reduces poverty among eligible recipients by 13.9%, whereas the MWP credit reduces poverty among MWP recipients by 5.4%. However, taken as a whole, these credits reduce poverty among those who are eligible for all three by nearly 47%.
