The Tax Policy Blog

September 23, 2016

Regular readers of Tax Foundation reports know that we publish estimates of the distributional impact of federal tax changes: that is, we estimate how a tax reform might affect the after-tax incomes of taxpayers at different income levels.

The way we usually have organized this is by percentile. For example, if you’re at the 60th percentile on our income tables, that means that for every 100 taxpayers, about 40 people would have higher incomes than you, and 60 would have...

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September 23, 2016

Today is September 23, the birthday in 63 B.C. of the Emperor Augustus, Rome’s first emperor and the namesake of the month of August. Among other things he was a tax reformer, replacing arbitrary and intermittent tributes collected by private tax collectors with a system whereby civil servants collected fixed tax quotas from each province in proportion to population. Indirect taxes included taxes on sales, slaves, and...

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September 22, 2016

This morning, Hillary Clinton’s campaign announced a proposal to significantly increase the federal estate tax. Among other things, the proposal would increase the top estate tax rate to 65 percent for estates worth more than $1 billion, modeled off of the “billionaires’ surtax” proposed by Bernie Sanders....

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September 22, 2016

Today is September 22, the birthday of California activist Howard Jarvis (1903-1986), champion of California’s Proposition 13 (1978) and namesake of the Howard Jarvis Taxpayers Association. After years of skyrocketing property tax increases, Prop. 13 immediately cut property taxes by 30 percent and capped them thereafter: property taxes are limited to 1 percent of assessed value and the assessed...

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September 21, 2016

Last week, the Center on Budget and Policy Priorities (CBPP) released a critique of the Tax Foundation’s Taxes and Growth (TAG) Macroeconomic Model. Most of the authors’ comments center around the fact that our macroeconomic results differ, sometimes significantly, from those offered by both the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT). As such, we think it would be useful to respond by explaining how our model differs and why we make the assumptions that...

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September 21, 2016

Today is September 21, the feast day of the Christian Apostle Matthew. According to Matthew 9:9-13, Matthew was a tax collector (then a form of sinner, apparently) when he was called to follow Jesus.

Here are some interesting links I came across:

Speaker Ryan Speaks on Tax Reform: House Speaker Paul Ryan (R-WI)...

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September 20, 2016

UPDATE: On September 21, the U.S. House passed H.R. 2315 by voice vote. It now goes to the Senate for consideration.

It looks like as early as Wednesday, the House of Representatives may consider H.R. 2315, the Mobile Workforce Income Tax Simplification Act of 2015. (Companion measure is S. 386.) Here's what it's about.

The bill limits...

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September 20, 2016

Today is September 20, the tenth anniversary of Utah adopting a major tax overhaul, creating a choice for taxpayers to pay a flat tax of 5.35 percent with no deductions, or the existing system of 6.98 percent with deductions. Not long after...

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September 19, 2016

Measure 97 continues to dominate the airwaves in Oregon as both supporters and opponents launch their campaigns on the ballot measure. The $6 billion tax increase would cost households in Oregon approximately...

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September 19, 2016

I. Our Analysis of Donald Trump’s Tax Plan Reflects Uncertainty

One thing that a reader will quickly notice about our report on Donald Trump’s most recent tax reform plan is that it discusses a range of revenue, distributional, and economic outcomes, rather than a single number. Tax Foundation has not done this before, so I would like to explain why we have...

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September 19, 2016

Today is September 19, the date in 1778 when the Finance Committee of the Continental Congress presented the first proposed national budget for the United States government. The report of the committee, chaired by Gouverneur Morris, was mostly shelved at the time but its resolutions were eventually adopted later in 1778 and in 1779 as the new country’s finances deteriorated.

Here are some interesting links I came across:

Lots of Coverage of What’s In Donald Trump’s New...

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September 16, 2016

"The king of New York levied imposts upon New Jersey and Connecticut, and the nobles of Virginia bore with impatience their tributary dependence upon Baltimore and Philadelphia. Our discontents were fermenting into civil war." – Fisher Ames

On September 17, 1787, delegates to the Constitutional Convention approved the proposed national charter over which they had labored in secrecy since May. The document was laid before Congress, which—upon dispensing with motions to...

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September 16, 2016

Today is September 16, the date in 1380 when King Charles V of France died, ordering the repeal of the country’s taxes on his deathbed. His wishes were not carried out.

Here are some interesting links I came across:

Trump Updates Tax Plan: My colleague Alan Cole has the details. Our federal team...

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September 15, 2016

Today is September 15, the date in 1254 that some historians believe Marco Polo was born. The Venetian traveled to Asia and spent years at the court of Kublai Khan, perhaps as a tax collector. His book on the experience, published in 1300, introduced Europe to China.

Here are some interesting links I came across:

MPAA Chafed by USC Studies Critical of Film and TV Tax Incentives: The Motion Picture...

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September 15, 2016

Introduction

Today in New York, presidential candidate Donald J. Trump released a tax reform plan. The plan would reform the individual income tax code by lowering marginal tax rates on wage, investment, and business income. Furthermore, it would broaden the individual income tax base. The plan would also lower the corporate income tax rate to 15 percent and modify the corporate income tax base....

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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.

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