Taxes

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...
‘Beware Trillion-Dollar Deficits,’ Barron’s Says

By Yuval Rosenberg

In the latest Barron’s cover story, Jack Hough warns of the long-term risks of rising U.S. public debt. While noting that there’s little chance of hitting debt-related turbulence anytime soon and...
Buybacks Are Now the Top Way for Companies to Spend Their Cash

By Michael Rainey

Stock buybacks are now the most popular way for S&P 500 companies to spend their profits, the first time that’s happened in 10 years, Goldman Sachs said in a research note Friday. Buybacks surged...
Kudlow: ‘I Don’t Buy’ That Tax Cuts Boosted Deficit

By Yuval Rosenberg

Larry Kudlow is at it again. Speaking at the Economic Club of New York, the top economic adviser to President Trump said that, while the administration is looking to cut federal spending — including...

Why Trillions in Offshore Profits May Stay Offshore

By Michael Rainey

The tax law that went into effect this year imposed a one-time, reduced tax on profits held overseas by U.S. companies. The tax holiday was designed to encourage corporations to bring money home, to...
Tax Cuts Put the Brakes on Bracket Creep

By Michael Rainey

Receipts from individual income taxes tend to rise every year due to what economists call “bracket creep” – the movement of more taxpayers into higher tax brackets over time, even as tax rates stay...
Social Security Pulled 27 Million People Out of Poverty in 2017

By Michael Rainey

Since 2011, the U.S. Census Bureau has produced a more sophisticated measure of poverty that, among other things, includes the income effects of government assistance programs such as Social Security...
House to Considers Billions in Cuts to Obamacare Taxes

By Michael Rainey

In addition to a package of bills that would make the individual tax cuts permanent , the House is expected to consider legislation this week that would delay or roll back multiple tax provisions in...
Is Joe Scarborough Right About the GOP and the National Debt?

By The Fiscal Times Staff

Former GOP congressman and current Trump antagonist Joe Scarborough laid into the president and his party this week, finding fault with, among other things, their track record on deficit spending. "...

$Senator Bernie Sanders (I-VT) speaks during an event to introduce the "Medicare for All Act of 2017\$

Putting a Price Tag on the Democratic Socialist Agenda

By Michael Rainey

A number of policy proposals associated with the “democratic socialist” agenda of Bernie Sanders and Alexandria Ocasio-Cortez are gaining ground in the Democratic Party and will likely play a role in...
Here’s What’s at Stake in November: Tax Cuts, a Shutdown and Obamacare Repeal

By Michael Rainey

A lot can change over the next three months, but right now Democrats look likely to win control of the House of Representatives. They currently hold the lead in both generic ballot polls and the...
Buybacks Could Hit $1 Trillion This Year: Goldman Sachs

By The Fiscal Times Staff

Companies in the S&P 500 will likely authorize a record $1 trillion in stock buybacks in 2018, according to an estimate released by Goldman Sachs Friday. Buyback announcements have surged to $754...
Trump Says Tariff Revenue Will Help Pay Down National Debt. Here's the Real Math.

By Yuval Rosenberg

President Trump tweeted Sunday morning that his burgeoning trade wars with China and other countries will have a very specific benefit to the U.S.: bringing down the national debt. “Tariffs are...
It Looks Like Chickens Aren't Cash as Far as the IRS Is Concerned

By Michael Rainey

The IRS appears to have settled one of the most vexing – or at least joke-worthy – questions it has faced in recent years: Are live Peruvian chickens the equivalent of cash? The question arose as U.S...