Tax Reform's Third Rail: Mortgage Interest

The mortgage interest deduction has long been considered the untouchable third rail of tax reform. However, a close look at a flat-rate tax suggests that, on balance, homeowners would gain more from i…

Principles of a Flat Tax

There is a better way of taxing. Under a flat tax, all income is taxed, and it is taxed at the same rate. Furthermore, income is taxed only once, at its source, when it is realized.

Benefits of the Flat Tax

A flat or single-rate income tax would replace the current system of five rates and hundreds of deductions, credits, exclusions, etc. This change is grounded in widely accepted principles of taxation.

Poor Gain (Proportionately) the Most From Capital Gains Tax Cut

As Congress considers whether to reduce the tax on capital gains, much of the debate has focused on who would benefit from such a reduction. Opponents claim that those with high incomes would gain dis…

Tax Fairness for the Elderly: Eliminating the Social Security Earnings Penalty

Social Security recipients under age 70 who earn more than a modest amount from wages or salary are America's most heavily taxed citizens. 

Taxing The Poor

When people on welfare earn income, they face two types of penalties. Not only do they have to pay taxes on their earnings, but they have their welfare benefits reduced as well. This reduction in bene…

Republican Tax Cuts: Are They Fair?

Most taxes are paid by taxpayers with high incomes while the poor pay almost none, so tax cuts generally appear to benefit the wealthy more than the poor.

Tax Cuts and the Rich

From the harshness of tax policy debates in recent years, one might suppose that the tax burden had been shifted from the rich to the poor. In fact, major tax cuts in the 1980s did just the opposite.…

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