Nebraska legislators are on track to approve a bill to inflation-adjust individual income tax brackets each year, a positive change that ends "bracket creep" and will save taxpayers $10 million per year. However, efforts...
- The Tax Policy Blog
- Obama Solves Tax Gap Problem
Obama Solves Tax Gap Problem
Seeking new sources of revenue, Barack Obama's tax reform panel has solved the tax gap problem in just a matter of days following its creation. Each member appointed to the panel by Obama was audited for previous tax years by the Treasury Department, and the audits uncovered hundreds of billions of dollars in unpaid taxes.
Combined with back taxes from other Obama nominees who have had tax troubles, the soon-to-be-paid taxes uncovered by the audits of the panel members mean that Obama has in effect solved the tax gap.
Inside sources are reporting that the only thing standing in the way of Obama completely solving the tax gap is Willie Nelson, an Obama supporter in 2008.
Buy this blogger a cup of coffee!
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official weblog 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.