Taxes

Could Another Round of Tax Cuts Backfire on Republicans?

By Yuval Rosenberg

Republicans face a dilemma in their quest to pass another massive tax cut ahead of November’s midterm elections. Party leaders have pledged to make permanent individual tax cuts in the tax overhaul...
Why the Trump Tariffs Could Cost More Jobs Than They Save

By Michael Rainey

The tariffs President Trump announced – including a 25 percent levy on steel imports, with some notable exemptions – are meant to protect American jobs, but analysts at the Federal Reserve Bank of...
Banks Score Big from New Tax Law: $2.5 Billion in One Quarter

By The Fiscal Times Staff

The Wall Street Journal’s Michael Rapoport reports : “Overall, the combined earnings of Goldman and the four major national banks — JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and...
Tax Day, Take 2: Filers Get More Time After IRS Glitch

By Yuval Rosenberg

Happy Tax Day … again. The IRS e-file system that was down for most of Tuesday is back up, but the outage led the agency to extend its filing deadline by a day, meaning taxpayers have until midnight...
Why All the Warnings About Unsustainable National Debt Could Be Wrong

By Michael Rainey

International economists are warning about rising global debt levels and deficit hawks in Washington are increasingly worried about what they see as unsustainable debt levels in the U.S., but a new...

The US Has an Exceptional Debt Outlook – and Not in a Good Way

By Michael Rainey

The International Money Fund’s latest global fiscal survey warns that in five years, the U.S. debt-to-GDP ratio will be higher than Italy’s, a nation not generally known for its exemplary fiscal...
Why the Media War Over Trump's Tax Cuts Is Just Getting Started

By Yuval Rosenberg

Tax Day is, of course, the perfect time for Republicans and Democrats to resume their messaging battle over the GOP tax law that passed late last year. Republicans took to TV and social media to hail...
The Biggest Winners from the GOP Tax Cuts (Hint: It Isn't Workers)

By Yuval Rosenberg

This won’t help the GOP’s tax cut message: U.S. companies are using the benefits of their tax cuts to reward shareholders and management far more than they are on hiring and pay raises, according to...
Computer Problems Plague the IRS on Tax Day … and Bigger Troubles May Lie Ahead

By Yuval Rosenberg

It wasn’t a very happy Tax Day for the IRS, which announced it was “experiencing technical difficulties” with some computer systems and temporarily couldn’t accept returns from tax preparers,...
What Americans Really Think About Taxes

By Yuval Rosenberg

Happy Tax Day! Ok, so maybe you’re not actively celebrating the IRS deadline, but Americans are now less likely than at any time since 2012 to say that the federal income taxes they pay are too high...

Tax Cuts, Part 2: Trump Wants Another Crack at the Code

By Michael Rainey

The tax overhaul may not be generating the kind of political momentum Republicans were hoping for, but that’s not stopping them from talking about another round of tax cuts. President Trump has been...
CEOs Warn That Trump’s Tariffs Could Undo Benefits of His Tax Cuts

By Yuval Rosenberg

The Business Roundtable’s quarterly index of CEO confidence last month hit its highest level since the survey began late in 2002. But the latest survey was conducted in February, before the Trump...
Koch Network Targets Red State Dems with More Tax Ads

By Yuval Rosenberg

American for Prosperity, the conservative political advocacy group funded by the Koch brothers, announced Wednesday that it is launching the second wave of a major television and digital ad campaign...
The GOP Tax Message May Have Backfired in Pennsylvania

By Michael Rainey

Republicans were banking on their $1.5 trillion tax cut to give them a boost in the 2018 elections, but that isn’t how Tuesday’s special election in Pennsylvania's deep-red 18th congressional...
Global Economy Is Booming, but Beware ‘Excessively Pro-Cyclical’ Policies

By Michael Rainey

The Organization for Economic Cooperation and Development is feeling pretty optimistic these days, saying Tuesday that global growth continues to strengthen this year and next, with investment and...