Mar 31, 2017 | Op-Eds
Pundits have posited every imaginable reason for the failure of the GOP to get their health care reform bill through the first big hurdle: passage on the House floor. As we all know too well, Speaker Ryan pulled the bill just minutes before a vote was scheduled, when it was absolutely clear that a majority of support could not be reached. But would success have ushered in a new health care paradigm? I doubt it.
Jan 30, 2017 | Op-Eds
If the House Republican plan for a border adjustment tax were adopted, many large U.S. multinationals and others net exporters would receive more tax subsidy on their exports than tax owed on their other business activities. Without refundable credits, a 20% border adjustment tax would actually yield $260 billion in revenue beyond the expected $1 trillion.
Dec 9, 2016 | Op-Eds
President Trump’s proposal to cap itemized deductions would cause a drop in charitable giving. For those giving above the cap, the net cost would jump from $0.60 per $1 of giving to an unsubsidized $1 per $1 of giving. Because a 1% increase in the price yields a 1% drop in giving, $17.6 billion in annual giving could evaporate.
Oct 28, 2016 | Op-Eds
Hillary Clinton wants to double the child tax credit for children under 5 and increase the refundability of the credit for more low-income households. Her proposal will further exacerbate the tax disparity between childless households and families with young children. And, by adding substantially to the federal deficit, the policy will shift the cost of raising today’s children onto future generations.
Oct 14, 2016 | Op-Eds
Hillary Clinton proposes doubling the child tax credit for children under 5 (from $1,000 to $2,000) and expanding the refundability of the credit to lower-income families. Her proposal 1) is expensive, 2) increases the deficit, 3) is unfair to childless taxpayers, 4) benefits a narrow group, 5) has an arbitrary cutoff, and 6) is just the beginning.
Aug 22, 2016 | Op-Eds
To broaden the tax base, lawmakers will need to do more than close obscure tax loopholes. They will need to limit itemized deductions. These tax breaks costabout $176 billion in 2016 or enough to finance a nearly 13% tax cut for every individual income tax bracket. And they add significant complexity to the tax code.