Revenue & Spending / Federal Tax Policy
Charitable Deduction Should Be Preserved
Apr 24, 2013
Congress is currently considering tax changes that could substantially reduce charitable giving in the United States. One threat is a proposal from President Obama to cap the deductibility of itemized deductions by high-income taxpayers at 28 percent. A second threat is less understood – tax reform that lowers tax rates. Tax rate changes like those in the tax reform plan proposed by Rep. Paul Ryan (R-WI) would reduce the tax benefit of charitable giving even more than the proposed Obama limit on itemized giving. This report reviews the impact on charitable giving of both the Obama proposal and tax reform more generally. It concludes that both would substantially reduce charitable giving and that the impact on the nonprofit sector could be comparable to sequestration.
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Who Pays for Corporate Tax Dodgers? YOU DO.
Apr 15, 2013
Find out how multinational corporate tax cheating hurts the average tax payer. From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax, and how seven fed-up Americans take their frustration to the streets... and vow to make the corporations pay their fair share.
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What do America's Biggest Tax Avoiding Corporations Want Now?
Apr 12, 2013
Big Corporations are pushing for a Territorial Tax System. Find out what it is and how it's going to affect Americans! From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax, and how seven fed-up Americans take their frustration to the streets... and vow to make the corporations pay their fair share.
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The Truth About Corporate Tax Rates
Apr 11, 2013
The tax rate is 35%. Corporations complain it's too high. But how much are they really paying? From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax...
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Apr 11, 2013 by Patrick Lester
Tax Havens 101: The high cost of going offshore, an animation by The Washington Post, illustrates how offshore tax havens allow investors to legally – and quite easily – dodge taxes and accountability. This loophole costs our country billions in lost revenue. A recent report by U.S. Public Interest Research Group (PIRG) found that these tax havens cost the average taxpayer $1,026 and each small business $3,067 each year.
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How Do Billion-Dollar Corporations Cheat America Out of Tax Revenue?
Apr 9, 2013
Find out how corporations use transfer pricing to shift profits offshore and get out of paying taxes in the U.S. From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax, and how seven fed-up Americans take their frustration to the streets... and vow to make the corporations pay their fair share.
read in full How Do Giant Corporations Get Away with "Legal" Tax Cheating?
Apr 9, 2013
See how multinational corporations lobby to write their own tax laws. From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax, and how seven fed-up Americans take their frustration to the streets ... and vow to make the corporations pay their fair share.
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Battle Lines Await an (Unlikely) Budgetary "Grand Bargain"
Mar 25, 2013
With Congress and the Obama administration still divided over tax revenues, the possibility of a "grand bargain" on another major deficit reduction package seems increasingly small.
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New Bowles-Simpson Deficit Plan Emphasizes Spending Cuts
Feb 21, 2013 by Patrick Lester
Erskine Bowles and Alan Simpson, co-chairs of a presidentially appointed bipartisan commission that failed to reach agreement on a deficit reduction plan in 2010, released a new plan on Feb. 19 to reduce the federal deficit by an additional $2.4 trillion over the next ten years. Most of the proposed new deficit reduction is achieved through spending cuts.
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The Wall Street Sales Tax
Feb 8, 2013
As policymakers in Washington, DC continue to debate our nation's budget priorities, some of the options currently being considered are cuts in Social Security benefits, education and health programs, important investments in transportation infrastructure and health research, and anti-poverty programs, among many others.
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