News
CNN Money | Middle class tax breaks on the line
President Obama wants to tie spending cuts to tax revenue hikes in the debt ceiling talks, but that could mean trouble for the middle class taxpayers he has pledged to protect.
Econ Comments & Analysis
NY Times | I.R.S.’s Taxpayer Advocate Calls for a Tax Code Overhaul
Lawmakers need to overhaul the tax code completely to reduce the “significant, even unconscionable, burden” placed on taxpayers just to file a tax return, the Internal Revenue Service’s ombudsman told Congress on Wednesday.
AEI | The myth of the limits on itemized deductions
As the fiscal cliff deal began to take shape at the end of December, media reports stated that the agreement would cap itemized deductions. In the days since the agreement was signed into law, some articles have continued to claim that it limits itemized deductions, including the charitable deduction, and therefore discourages charitable giving. But, it’s all a myth. For better or worse, the new law doesn’t actually cap any itemized deductions.
Blogs
CATO | End Gas Tax? Yes! Pay for Roads with Sales Tax? No!
Virginia Governor Bob McDonnell wants his state to be the first to end the gas tax. This is a good idea because gas taxes are an imperfect user fee.
