Taxes

Kansas or California as a Model for America’s Future Growth?

By The Fiscal Times Staff

If you had to choose either Kansas or California to serve as a model for America’s future growth, which would it be, Bloomberg’s Barry Ritholtz asks . The answer, he argues, is obvious — yet...
Time to Blame Trump for Your Football Team's Lack of Talent?

By Yuval Rosenberg

Fans of the 1-and-5 Oakland Raiders, San Francisco 49ers or New York Giants are already suffering plenty this season, but a new report by Bloomberg News’ Lynnley Browning might depress them even...
Quote of the Week: Trump’s Big Bet on Supply-Side Economics

By The Fiscal Times Staff

“There has never been a President with policies so simultaneously bullish and bearish as Donald Trump! He is stepping on the economy’s accelerator and brakes at the same time. … Trump is making a...
Kamala Harris' Trillion-Dollar Tax Plan

By Michael Rainey

Republicans aren’t the only ones coming up with trillion-dollar tax plans. California’s Kamala Harris, a rising Democratic star in the Senate, released a proposal Thursday to repeal the $1.9 trillion...
Trump Is Hitting Economy’s Accelerator and Brakes at the Same Time: Analyst

By Yuval Rosenberg

Stocks have experienced some dramatic swings in recent days as investors try to digest and make sense of corporate earnings; rising interest rates and conflicting monetary and fiscal policy;...

Trump’s Tariffs Could Dampen Investment Spurred by the Tax Cuts

By Michael Rainey

A new Philadelphia Fed survey highlighted by MarketWatch’s Steve Goldstein suggests that some manufacturing businesses see the President Trump’s tax and tariff policies as working at cross purposes...
Republicans Ignore the Obvious Effect of Their Tax Cuts

By Yuval Rosenberg

President Trump, top administration officials and Republican congressional leaders claim that the rising deficit, which grew 17 percent to $779 billion in fiscal 2018, is not the result of their tax...
Why Tax Cuts in a Strong Economy Could Hurt in the Long Run

By Michael Rainey

Passing tax cuts in an already strong economy violates the important fiscal principle, says Jared Bernstein, former chief economist to Vice President Joe Biden, in The Washington Post Wednesday. “...
Kudlow Says the Party's Just Getting Started, but Is the Economy Headed for a Hangover?

By Michael Rainey

Senior White economic advisor Larry Kudlow touted the Trump economy Friday, telling CNBC that “[w]e're in a hot economic boom. There's no end in sight." As a result, the stock market should “get back...
Mnuchin Spins a False Claim About Tax Cuts and the Deficit

By Yuval Rosenberg

The Congressional Budget Office projected last week that the federal government’s fiscal 2018 deficit would total $782 billion. The final numbers will be released by the Treasury Department, but...

7 Numbers That Signal Trouble for the GOP

By Yuval Rosenberg

A new Fox News poll delivers a lengthy list of numbers that signal trouble for Republicans: Democrats hold a 7-point edge over Republicans in the generic congressional ballot for the midterm...
Republicans Have ‘Lost the Messaging Battle’ Over Tax Cuts, GOP Poll Finds

By Yuval Rosenberg

Republicans have “lost the messaging battle” over their tax cuts, according to a survey commissioned by the Republican National Committee. The poll, conducted early this month by GOP firm Public...
IRS Holds Off on New W-4 Form

By Michael Rainey

The Treasury Department announced Thursday that the debut of the Internal Revenue Service’s new W-4 form will be delayed until the 2020 tax year. A draft released earlier this year – you can see it...
Are the Tax Cuts Paying for Themselves?

By Michael Rainey

The Heritage Foundation’s Stephen Moore, a longtime supply-sider who advised President Trump during the 2016 campaign, argues in Wednesday’s Wall Street Journal that “the corporate tax cut is paying...
Federal Tax System Becoming More Progressive: Report

By Michael Rainey

The U.S. tax system has become more progressive in recent years, says Eric Toder of the Tax Policy Center, thanks to real income growth and changes in federal policy. While the tax cuts passed last...