Taxes

The Bush Capital Gains Tax Cut after Four Years: More Growth, More Investment, More Revenues

In May 2003, President George W. Bush signed into law his investment tax cut. This package included accelerated reductions in income tax rates, a cut in the dividend tax from 39.6 percent to 15 percen…

The Coming Tax Tsunami

Over the next 25 years American taxpayers will face a fiscal tsunami.  The first of the baby boomers will be eligible for early retirement beginning next year, and will be eligible for Medicare in 201…

The Surtax: Worse Than the Alternative Minimum Tax

The individual alternative minimum tax (AMT) was originally designed to tax wealthy households who paid little income tax due to deductions and credits they claimed.  However, today's AMT is hitting m…

Repairing Bridges without Raising Gas Taxes

In the wake of the August 1, 2007, Minneapolis bridge collapse, Rep. Jim Oberstar (D-Minn.), chairman of the House Transportation and Infrastructure Committee, proposed a 5-cents-per-gallon increase i…

How to Fix the Alternative Minimum Tax

The Alternative Minimum Tax (AMT) is an income tax monstrosity that denies middle-to-high-income people deductions that would otherwise be legitimate.  The AMT requires an increasing number of taxpaye…

Taxing the Poor

The income tax is highly progressive.  It takes a higher portion of the income of the rich than the poor.  But federal, state and local governments raise revenues in a number of ways that are regressi…

Does It Pay to Save?

Does it pay to save?  The answer is often no.  In fact, penalties for saving are astronomical for some households, particularly young, single-parent and lower-income families.  But these are the very…

A Wiser Way For Retirees to Donate

Charitable gift funds are more than a toy of the nearly rich. They offer a surprising advantage to retirees with ordinary incomes. Using a charitable gift fund, a retired couple can increase their giv…




 
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