All Tax VOX

Republicans call Obama an unrepentant tax raiser. The president calls himself a responsible tax cutter who only raises taxes on the rich. Both sides have a point.

House Budget Committee Chairman Paul Ryan (R-WI) released a fiscal plan that promises trillions of dollars in tax cuts and a nearly balanced budget within a decade, but never says how he'd get there. 

In theory, it makes sense to establish special accounts where designated revenues are set aside for a specific purpose. But in practice, Washington is grossly abusing the idea.

The alternative minimum tax (AMT) makes sure that high-income citizens may at least a minimum of income tax. It adds enormous complexity to the tax code and increasingly burdens middle-class families, but it would be costly and difficult to replace.

Some political leaders and commentators are showing a growing interest in raising taxes on the rich. But the ideas on the table would have very different results.

In an election year, President Obama may be the last guy who wants gas prices to rise. However, if  we want to reduce our need for foreign oil, slow climate change, and encourage development of new energy technology, we ought to be raising taxes on fossil fuels. A lot.

Romney is promising both massive tax cuts and a balanced budget, but it's unclear how he will pay for either.

If you want a good read on individual or corporate tax refprm, pick up one of these new titles.

Romney rolled out a new tax proposal after many Republicans blasted his initial plan as too cautious. His plans to cut income tax rates by 20 percent and eliminate the Alternative Minimum Tax sound appealing, but he offers no specifics on how he'll offset the billions in lost revenue. 

Romney wants to reduce individual tax rates by 20 percent across the board. Sounds good, but it would increase the deficit to the tune of $3 trillion.

Obama and GOP leaders are in agreement on many corporate tax reform policies. But on the question of how foreign earnings of U.S.-based multinationals should be taxed, the gap remains wide. 

Mitt Romney has added a new plank to his campaign tax platform: Cut all ordinary tax rates by a fifth. But he’s put a few pretty big hurdles in the way of making sure his plan does not add to the deficit.

Which Republican Presidential candidates would successfully eliminate the deficit and national debt? According to a new analysis from the non-partisan Committee for a Responsible Federal Budget, none of them would.

The president's Framework for Business Reform does a great job in identifying what's wrong with the way businesses are taxed. But the cure for those problems leaves a lot to be desired.

There are two gimmicks happening here. Both are functions of the 10-year budget window the Congressional Budget Office and the Joint Committee on Taxation use to score legislation.

The payroll tax cut extension will save workers a total of $114 billion this year. That means an average cut of $714 per worker, though some will take home more (and some less).

With its Automatic IRA and extra incentives for employers to offer a 401(k) plan, the president's budget will enable almost all Americans to save for retirement.

After months of squabbling, it looks as if Congress is about to extend a “temporary” tax cut for another 10 months, borrowing $100 billion to do it. That would be OK if this was just a short-term stimulus. 

When it comes to taxes, Obama's budget is long on principles but woefully short on statistics.

According to the Buffett Rule the wealthy should pay at least as much tax as middle-income households. That sounds straightforward but it’s not.