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The Home Mortgage Interest Deduction
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International Tax Competitiveness Index 2019
Our International Index compares OECD countries on over 40 variables that measure how well each country’s tax system promotes sustainable economic growth and investment.
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Booker’s Plan to Eliminate Step-up in Basis and Expand the Estate Tax
Removing step-up in basis would encourage taxpayers to realize capital gains and it would plug a hole in the current income tax, while increasing federal revenue. Combined, however, with the estate tax, this would result in a significant tax burden on certain saving by requiring both the appreciation in and total value of transferred property to be taxed at death
2 min read
Marijuana Revenues Could Take a Hit
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Senator Sanders Proposes a Tax on “Extreme” Wealth
Bernie Sanders recently became the second major Democratic presidential candidate to propose a wealth tax.
2 min read
JCT Report Shows Capital Gains are Sensitive to Taxation
JCT’s report on capital gains elasticities reminds us that capital gains realizations, at least under a tax system that allows deferral, are sensitive to tax rates. Moving to mark-to-market taxation of all capital gains would remove this sensitivity by taxing capital gains annually.
4 min read
Senator Bennet’s Plan to Expand the EITC
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Does Your State Have a Marriage Penalty?
A marriage penalty is when married couples filing jointly face a higher effective tax rate than they would if they filed as two single individuals with the same amount of combined income.
2 min read
No Good Options as Chicago Seeks Revenue
Facing an $838 million budget shortfall, a looming pension crisis, and an aggressive spending wish list, some Chicago policymakers and activists are expressing interest in a laundry list of new and higher taxes that could, collectively, raise as much as an additional $4.5 billion a year.
6 min read