News
CNBC | Obama Wants Tax Breaks for Small Business
White House officials say President Barack Obama will call on Congress Tuesday to pass legislation that, among other measures, would eliminate tax rates on capital gains for investments in small businesses and extend for a year the ability of all businesses to immediately deduct all of the costs of equipment and software purchases.
National Journal | CBO Predictions Show Just How Significant Bush Tax Cuts Will Be
If those tax provisions are extended, the CBO snapshot of federal receipts and the deficit would drastically change (and become more depressing).
Econ Comments & Analysis
CATO | A Flat Tax Is the Answer
Meanwhile, previewing a theme for the general election, President Obama said in his State of the Union address that "millionaires and billionaires" should cough up at least 30 percent of their earnings to the IRS. This is bad policy based on inaccurate data.
Blogs
Tax Foundation | Fix the Current AMT Before Creating a New One
In response to President Obama's State of the Union address, in which he called for a "Buffett Rule" setting a minimum tax of 30% for households making over $1 million, a group of Democratic senators have introduced legislation doing just that.
