News
CNN Money | Buffett renews argument for millionaire's tax
Warren Buffett is again arguing for higher taxes on himself and other high-income individuals, calling for an even steeper bite than in the Obama administration's "Buffett Rule."
Bloomberg | Republicans and Democrats Differ on Taxes as ‘Cliff’ Looms
U.S. Republican lawmakers advocated raising federal tax revenue by limiting deductions rather than by raising rates to avert the so-called fiscal cliff, as Democrats pushed for higher rates on upper-income earners.
Econ Comments & Analysis
Forbes | Before Going Over The Fiscal Cliff, Let The Markets Score The Competing Tax Plans
When it returns from its Thanksgiving break, the lame duck 112th Congress will be faced with having to do something about the “fiscal cliff”, the enormous tax increases and spending cuts that are scheduled to occur on January 1, 2013. If nothing is done, taxes will go up in 2013 by about $500 billion, or 3.1% of GDP. In addition, spending cuts of about $140 billion, or 0.9% of GDP, will take effect.
AEI | Should the Top Marginal Income Tax Rate Be 73 Percent?
My own view is that what we ought to do is the kind of thing that Chairman Ben Bernanke has urged the U.S. government to do: make good long-run plans for resolving our budget difficulties without imposing severe fiscal stringency in the short-run and that accommodative monetary policy is a good idea. But these are not very original ideas. I think eighty percent of the economics profession would agree with this. The problem is to figure out how in the real world to get these things done.
Washington Times | Congress faces first tax reform test
The main federal subsidy for wind energy is set to expire in six weeks. Supporters and opponents both are out in full force on Capitol Hill, for the issue has a symbolic importance. The wind energy subsidy is a bellwether for comprehensive tax reform.
IRS | A Quarterly Statistics of Income Report
The report provides the earliest published annual financial statistics obtained from the various types of tax and information returns fi led, as well as information from periodic or special analytical studies of particular interest to students of the U.S. tax system, tax policymakers, and tax administrators.
Blogs
AEI | Wanted: Pro-growth tax reform for the real world
America needs faster economic growth. Faster growth would mean more jobs, higher incomes, and less debt. Not only has the economy been slow to recover from the Great Recession and Financial Crisis, it was no great shakes even before the meltdown.
