Category: Taxing Wealth and Income from Wealth
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Brakeyshia Samms
Policy AnalystMarch 26, 2024
Our Taxes Can Set Kids Up for Success
Every child deserves the opportunity to succeed in society – and tax policy has a huge role to play in making that happen. Better tax policy can help prepare our young children with skills to become successful and thriving adults. -
Amy Hanauer
Executive DirectorThe federal estate tax should ensure that family dynasties who’ve amassed enormous fortunes pay their fair share in taxes. But because policymakers have repeatedly doubled and tripled the immense sums that can be passed on before the tax kicks in, the estate tax today affects almost no one. -
Steve Wamhoff
Federal Policy DirectorPresident Biden discussed multiple tax proposals during the State of the Union address to Congress. Several of these proposals appeared in the budget plan he submitted to Congress last year, but at least two appear to be new proposals. Raise Corporate Tax Rate from 21 Percent to 28 Percent 10-Year Revenue Impact in President’s Previous […] -
Steve Wamhoff
Federal Policy DirectorDecember 21, 2023
Everything You Need to Know About Proposals to Better Tax Billionaires
Tax policy may not be on the minds of most Americans during the final weeks of 2023, but billionaires with an eye on their own tax bills have been riveted by developments in D.C. -
Steve Wamhoff
Federal Policy DirectorOn Tuesday, the U.S. Supreme Court will begin hearing oral arguments in Moore vs. United States, which could become the most important tax case in a century. A broad ruling could destabilize our tax system, enrich many profitable corporations, and widen existing economic and racial inequalities. -
Brakeyshia Samms
Policy AnalystOctober 31, 2023
Power to the People: How Workers Can Fight Tax Inequity
Workers of all races and ethnicities are confronting a tax code that puts them at a disadvantage relative to those with immense wealth, and people of color and women are among those most likely to be negatively impacted by this injustice. -
Brakeyshia Samms
Policy AnalystMoore v. United States, already a cause for concern for tax lawyers, could create more barriers for racial equity advocates working to reverse the economic plight of many households of color. -
Steve Wamhoff
Federal Policy DirectorOne of the most attention-grabbing anti-tax campaigns at work today is called SAFE, which stands for Saving America’s Family Enterprises. But it might as well mean Saving Aristocrats From Everything given the outfit’s knack for opposing any national proposal to limit special tax advantages that only the wealthy enjoy. The basic approach of SAFE is […] -
Steve Wamhoff
Federal Policy DirectorInstead of focusing on low-income people who are already mostly employed or facing significant barriers to employment, lawmakers who want to encourage labor force participation should revisit existing tax breaks subsidizing wealthy individuals who live off their assets rather than work. -
Steve Wamhoff
Federal Policy DirectorCongress absolutely should raise taxes on the rich and on corporations to generate revenue and improve the fairness of our tax code. President Biden has several proposals to do exactly that. But this is an entirely separate question from whether we should raise the debt ceiling to honor the debts the nation has already incurred and avoid an economic apocalypse. -
Joe Hughes
Senior Policy AnalystHouse Republicans recently voted to rescind the green energy and electric vehicle tax credits that were enacted last Congress as part of the Inflation Reduction Act. This newfound willingness to raise taxes stands in contrast to the recent position of almost the entire House Republican Caucus. -
Amy Hanauer
Executive DirectorMarch 14, 2023
Worried About the Debt? Tax the Rich
As one of the most prosperous countries in human history, we have enough resources for our collective needs. By better taxing corporations and the wealthiest, we can generate revenue to improve family security, strengthen our communities, and reduce the debt too. -
Michael Ettlinger
Senior FellowMost Americans pay more in Social Security and Medicare payroll taxes than they pay in federal personal income tax. So just looking at the personal income tax for comparison misses most of the taxes middle-income Americans pay. That is not true for billionaires because a much, much smaller proportion of their income is subject to the federal payroll taxes. -
Joe Hughes
Senior Policy AnalystAs part of his new budget plan, President Biden is asking the richest Americans to pay a little bit more to strengthen Medicare. The proposal includes raising taxes related to Medicare very slightly for the highest earners and closing a loophole that some wealthy individuals use to avoid Medicare taxes altogether. -
Amy Hanauer
Executive DirectorFebruary 7, 2023
State of the Union Likely to Continue Progress on Tax Justice
After decades of Presidents who ran away from taxes, it’s a sea change to have a chief executive who understands that the rich should pay their fair share, extremely profitable corporations should pay their fair share, and the public sector should have revenue to invest in problems – like climate change and healthcare – that will only be solved with pathbreaking public action. -
Jon Whiten
Deputy DirectorJanuary 18, 2023
Several States Make New Moves to Tax Wealth
Lawmakers in seven states will introduce legislation this week to tax wealth in a new coordinated effort to combat ever-increasing income and wealth inequality. The bills couldn’t come at a better time, as those at the very top continue to pull apart from the rest of us and far too many states contemplate piling on to this runaway inequality with seemingly endless tax cuts for those at the top. -
Steve Wamhoff
Federal Policy DirectorSeptember 13, 2022
Billionaires Should Pay Taxes on Their Income Every Year Like the Rest of Us
The Inflation Reduction Act signed by President Biden last month will crack down on corporate tax dodgers and strengthen enforcement of tax laws already on the books, raising hundreds of billions of dollars to be spent on climate, health and other priorities. But these reforms will not directly raise taxes on even the wealthiest individuals. […] -
Steve Wamhoff
Federal Policy DirectorThe Billionaires’ Minimum Income Tax included in President Biden's budget plan would limit an unfair tax break for capital gains income and complement proposals the president has offered previously to limit other tax breaks for capital gains. -
Steve Wamhoff
Federal Policy DirectorFind the answers to some frequently asked questions about President Biden's Billionaires’ Minimum Income Tax, which would limit very wealthy individuals’ ability to put off paying income taxes on capital gains until they sell assets. -
Amy Hanauer
Executive DirectorJanuary 25, 2022
Why Tax Reform Should Remain on the Table
In this country, wealthier than any other and wealthier than we’ve ever been, we can create a smarter, more equitable tax code that better taxes those most able to pay. -
Steve Wamhoff
Federal Policy DirectorWhile the Ways and Means bill includes many helpful tax reforms, people like Jeff Bezos and Elon Musk would still pay an effective tax rate of zero percent on most of their income if it was enacted without this change. Sen. Wyden’s proposal would finally end this injustice. -
Brakeyshia Samms
Policy AnalystCurrently, millennials of color are worse off than their parents when it comes to wealth expectations. So, if one of the goals of federal policymakers is to reduce racial income and wealth disparities, the proposals outlined are a good start. Tax reforms included in the budget package making its way through Congress would help by boosting incomes and making raising children more affordable—two things that would help millennials of color thrive in today’s economy. -
Joe Hughes
Senior Policy AnalystThe racial wealth and income gaps are the results of centuries of government policies favoring the accumulation of wealth among white communities while marginalizing communities of color. Policy solutions that are race-forward, meaning they remedy past and ongoing racial inequities, can also address broader social inequities. -
Steve Wamhoff
Federal Policy DirectorWhen people first hear about proposals to tax unrealized capital gains, they often ask, “Is this income, and if so, should we tax it?” The answers to those questions are “yes” and “yes, when we are talking about the very rich.” -
Carl Davis
Research DirectorSeptember 28, 2021
Reforming Federal Capital Gains Taxes Would Benefit States, Too
Congress’s action or inaction on federal tax changes under consideration in the Build Back Better plan could have important implications for states on many fronts. One critical area of note is at the foundation of income tax law: setting the definition of income that most states will use in administering their own income taxes.
Blog Categories
- Corporate Taxes
- Earned Income Tax Credit
- Education Tax Breaks
- Federal Policy
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- Immigration
- Inequality and the Economy
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- Local Property Taxes
- Local Refundable Tax Credits
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- Sales, Gas and Excise Taxes
- SALT Deduction
- State Corporate Taxes
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- Tax Analyses
- Tax Basics
- Tax Credits for Workers and Families
- Tax Reform Options and Challenges
- Taxing Wealth and Income from Wealth
- Trump Tax Policies
- Who Pays?