Taxes
  • 4 Potential Reforms for the Capital Gains Tax

    By The Fiscal Times Staff

    Reforming the capital gains tax is one way to simultaneously address both rising inequality and growing federal deficits, say William G. Gale and Grace Enda of the Brookings Institution. The current...

  • U.S. President Trump departs for travel to Louisiana from the White House in Washington

    Trump’s ‘Four Pinocchio’ Tax Claim

    President Trump routinely lies or makes exaggerated, unsupported and misleading claims. The Washington Post’s most recent tally of such statements topped more than 15,400 over Trump’s first 1,055...

  • 2020 Democratic U.S. presidential candidate and U.S. Senator Bernie Sanders speaks during a campaign event in West Branch, Iowa

    How the GOP Will Attack Bernie Sanders' Wealth Tax

    By Michael Rainey

    We highlighted yesterday a defense of wealth taxes from Gabriel Zucman, a liberal economist who has advised both Elizabeth Warren and Bernie Sanders on their tax proposals. On Friday, a pair of...

  • The U.S. Capitol Building is shown at sunset in Washington

    Is a Wealth Tax a ‘Very American Idea’?

    By Michael Rainey

    The wealth tax proposed by Democratic presidential candidates Elizabeth Warren and Bernie Sanders has broad support among the American public. A Hill-HarrisX survey last year found that 74% of...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    Why the IRS Is Struggling to Do Its Job

    By Michael Rainey

    The IRS doesn’t have enough funding or personnel to do its job properly, according to the 2019 annual report from the Taxpayer Advocate Service, an independent organization within the Internal...

  • Microsoft founder Bill Gates speaks during an interview at the fringes of the Reinvented Toilet Expo showcasing sewerless sanitation technology in Beijing

    Bill Gates Calls for Higher Taxes on the Rich

    Microsoft co-founder Bill Gates, the second richest person in the world, says people like him should be paying higher taxes. In a year-end blog post, Gates applauds the ongoing debate over America’s...

  • 2020 Preview: The Economic and Fiscal Picture in 10 Charts

    The economy is humming along, having grown at an average inflation-adjusted annual rate of just over 2% over the last four quarters. But it is projected to have grown more slowly this year than the 2...

  • FILE PHOTO:  U.S. President Trump displays signature after signing tax bill into law at the White House in Washington

    Unhappy Birthday? Trump Tax Cuts Turn 2

    By Michael Rainey

    “Two years ago today, Republicans in Congress passed a sweeping tax cut,” writes NPR’s Scott Horsley. “It was supposed to be a gift-wrapped present to taxpayers and the economy. But in hindsight, it...

  • Why ‘Zombie’ Tax Breaks Are So Hard to Kill

    By Michael Rainey

    In one of Washington’s less appealing year-end rituals, lawmakers have once again passed a package of tax extenders – special tax breaks aimed at specific industries, such as race-track owners, craft...

  • U.S. 1040 Individual Income Tax forms are seen in New York

    Most Americans Think the Tax System Is Unfair

    By The Fiscal Times Staff

    Most Americans think the tax system is unfair, according to a new report from the Pew Research Center. A Pew survey found that 62% of respondents say the federal tax system is either not at all fair...