News
CNN Money | Businesses' fiscal cliff fear: The payroll tax cut
Of all the fiscal cliff issues, there's one that scares small businesses most of all: The end of the payroll tax holiday.
NY Times | New Taxes to Take Effect to Fund Health Care Law
For more than a year, politicians have been fighting over whether to raise taxes on high-income people. They rarely mention that affluent Americans will soon be hit with new taxes adopted as part of the 2010 health care law.
CNN Money | Favorite tax deductions of the rich
The wealthy could see their tax burden go up by an average of $14,000 if lawmakers limit itemized deductions as part of a fiscal cliff deal.
Politico | Time to reform complex tax code
There are very few “teaching moments” in politics, but the drama surrounding the current debate over the fiscal cliff is one of them. As it unfolds, it is becoming clear that it is time for comprehensive tax reform. Last reformed in 1986, America’s Tax Code was once the envy of our trade competitors.
Econ Comments & Analysis
WSJ | The Republican Tax Panic
If any Republicans thought that President Obama would respond with magnanimity in victory, they now know better. He is determined to rout them on taxes, give as a little as possible on spending, and blame them for any economic damage in the bargain.
NY Times | Tax Arithmetic Shows Top Rate Is Just a Starter
Despite hints in recent days that President Obama and House Speaker John A. Boehner might compromise on the tax rate to be paid by top earners, a host of other knotty tax questions could still derail a deal to avert a fiscal crisis in January.
AEI | Here’s a new tax on savings you didn’t know about
In the debate over the looming fiscal cliff, U.S. President Barack Obama often plays down any adverse economic impact from letting the 2001 and 2003 tax cuts expire for high-income Americans, claiming that the top tax rates would merely return to where they were during the Clinton years.
