May 21, 2009 12:23 PM
There are straightforward ways to raise revenue that will not be overly burdensome for taxpayers and which will not harm the economy. They involve eliminating or reducing several subsidies and preferences provided in the federal tax code to the wealthiest and most powerful among us. Combined with savings in the existing health care system, these measures could raise enough revenue to adequately fund health care reform.
May 15, 2009 10:12 PM | Permalink | 
On May 11, the Treasury Department released new details on President Obama’s proposed changes to the tax code. In addition to extending the Bush tax cuts for all but the richest Americans and making permanent many of the tax cuts in the recently enacted economic recovery act, the President would also make many changes that would raise revenue by closing loopholes, blocking tax avoidance schemes and making the tax code more progressive.
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May 15, 2009 01:53 PM | Permalink |
On May 11, the Treasury Department released new details on President Obama’s proposed changes to the tax code. In addition to extending the Bush tax cuts for all but the richest Americans and making permanent many of the tax cuts in the recently enacted economic recovery act, the President would also make many changes that would raise revenue by closing loopholes, blocking tax avoidance schemes and making the tax code more progressive.
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May 15, 2009 10:12 PM
On May 11, the Treasury Department released new details on President Obama’s proposed changes to the tax code. In addition to extending the Bush tax cuts for all but the richest Americans and making permanent many of the tax cuts in the recently enacted economic recovery act, the President would also make many changes that would raise revenue by closing loopholes, blocking tax avoidance schemes and making the tax code more progressive.
May 8, 2009 01:51 PM | Permalink |
On May 4, President Obama proposed several measures to address overseas tax avoidance and tax evasion. The proposals are steps in the right direction but could be far stronger. (See CTJ’s description of the measures for more technical details.)
While the President’s proposals are relatively modest, the corporate community claims that these measures are unfair and would limit economic growth in America.
The corporate lobbyists and spokespersons are wrong. Here are some of the frequently repeated myths, and the actual facts, about offshore tax abuses and what the President and many lawmakers want to do about them.
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May 8, 2009 01:49 PM | Permalink |
On May 4, President Obama proposed several measures to protect the U.S. tax system from offshore tax abuses. The proposed measures, which address both tax avoidance and tax evasion, are steps in the right direction but could be stronger. The additional details made public by the Treasury Department on May 11 provide more reason to be hopeful, but also illustrate certain gaps in the administration’s approach. For example, the President proposes to limit the rules allowing corporations to “defer” their U.S. taxes on foreign income. He would not repeal “deferral” altogether and he would largely exempt technology and pharmaceutical companies from even the weak limits he proposes. He proposes sensible steps to reduce abuses of the foreign tax credit and the “check-the-box” rules that allow multinational corporations to cause their subsidiaries’ income to “disappear.” His proposals to crack down on the use of secret accounts in offshore tax havens are also positive steps but could be much stronger.
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