Author: Alex Welch

April 9, 2010 02:58 PM | Permalink |

A new analysis from CTJ shows that many of the companies protesting a tax-loophole-closing reform enacted in the new health care reform law are paying corporate taxes at less than a third of the 35 percent statutory corporate tax rate, and in some cases are actually getting tax rebates back from the federal government.

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March 23, 2010 04:46 PM | Permalink | Ending the exemption in the Medicare tax for investment income would not affect small businesses at all. Increasing the Medicare tax rate on earned income in excess of $200,000 (or $250,000 for married couples) would have no effect on 95 percent of small business owners, and is unlikely to affect the hiring and investment decisions for the other 5 percent.
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March 18, 2010 02:14 PM | Permalink |

Over the past several weeks, Democratic leaders in the House and Senate have pursued a strategy of enacting several small pieces of legislation to address joblessness. While lawmakers might find this strategy easier than passing one great big bill, it does make it a bit difficult for those of us who are trying to keep track of which tax provisions Congress has passed and which provisions are still being debated. This report simplifies this task by summarizing recent activity on jobs bills and describing each bill and the tax provisions included.

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March 11, 2010 01:01 AM | Permalink |

U.S. Public Interest Research Group and Citizens for Tax Justice released a joint statement on the lack of legislation from the Senate to close the “carried interest” loophole. The loophole allows managers of buyout funds and hedge funds to pay taxes at a lower rate than middle-income people.

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March 9, 2010 02:41 PM | Permalink |

It’s difficult to design a tax plan that will lose $2 trillion over a decade even while requiring 90 percent of taxpayers to pay more. But Congressman Paul Ryan has met that daunting challenge. This analysis makes obvious that Congressman Ryan’s budget plan has nothing to do with balancing the budget, but has everything to do with creating a system that takes more from the poor and less from the rich.

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March 5, 2010 04:53 PM | Permalink |

A new report from Citizens for Tax Justice examines the Medicare tax reform included in the health care plan recently put forward by President Obama. The report concludes that this reform would affect only 2.3 percent of taxpayers in 2014. The richest one percent would pay about 84 percent of the resulting tax increase, and the richest five percent would pay virtually all of the tax increase.

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February 25, 2010 08:14 PM | Permalink |

Steps Congress must take to avoid larger budget deficits and restore fairness to our tax system.

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February 19, 2010 12:30 PM | Permalink |

Since 1995, Senator Arlen Specter of Pennsylvania has introduced legislation to create a federal “flat tax” in every session of Congress, including this session. This single-rate tax would replace the existing progressive personal income tax, as well as the corporate income tax and estate tax.

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February 10, 2010 01:55 PM | Permalink |

To avoid larger budget deficits, the federal government must collect at least as much revenue as the President proposes. There are two bare minimum requirements for Congress to achieve this. First, Congress must not extend any more of the Bush tax cuts than President Obama proposes to extend. Second, Congress must raise at least as much revenue as President Obama has proposed ($760 billion over ten years) through loophole-closers and new revenue measures.

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December 11, 2009 10:09 AM | Permalink |

Senate Democrats have proposed a new, very-high-rate excise tax on employer-paid health
insurance benefits that exceed certain levels. The goal is to force employers to eliminate
excessive benefits. Congressional analysts assume that employers then will replace their
employees’ lost health insurance benefits with increased taxable cash wages. Proponents of the
plan argue that this trade-off would be a progressive reform to the tax code, but this analysis concludes otherwise.

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