Taxes
  • The Apple logo is pictured on the front of a retail store in the Marina neighborhood in San Francisco, California April 23, 2014. The company is set to announce its first quarter earnings. REUTERS/Robert Galbraith  (UNITED STATES - Tags: BUSINESS SCIENCE

    How 4 Big US Companies Used Their Tax Cuts

    By Michael Rainey

    Bloomberg’s Laura Davison looked at what some major American corporations did with the tax cut windfalls they received in 2018. How did Apple, Walt Disney, Visa International and Starbucks use their...

  • A red traffic light stands in front of the U.S. Capitol building in Washington

    Is the ‘Era of Tax Reductions’ Over?

    By Michael Rainey

    If Greg Valliere, chief global strategist at Horizon Investments, is correct, Wall Street should be worried about the rise of Rep. Alexandria Ocasio-Cortez (D-NY). In a note to clients Wednesday,...

  • Democratic congressional candidate Alexandria Ocasio-Cortez speaks at her midterm election night party in New York City

    The Ongoing Fight Over Ocasio-Cortez’s 70% Top Tax Bracket

    By Michael Rainey

    The lively debate over the proposal by Rep. Alexandria Ocasio-Cortez (D-NY) to raise the top marginal tax rate to 70 percent continues, as it no doubt will for many months to come, with former...

  • Tax Cuts Still Not Paying for Themselves

    By Michael Rainey

    The latest budget data shows, once again, that the tax cuts are not paying for themselves. “It’s time to put to rest any notion that President Trump’s signature tax cuts are paying for themselves...

  • Democratic congressional candidate Alexandria Ocasio-Cortez speaks at her midterm election night party in New York City

    Ocasio-Cortez’s Tax Bombshell: Is a 70% Top Rate Too High, or Not High Enough?

    By Michael Rainey

    Political Rorschach test Rep. Alexandria Ocasio-Cortez (D-NY) sparked a lively fiscal debate this week after suggesting in an interview that the top marginal tax rate in the U.S. should be as high as...

  • Washington, DC

    What’s in the New House Rules Package

    By Michael Rainey

    The new Democratic-controlled House is expected to adopt a rules package Thursday, with provisions covering a variety of issues ranging from wearing religious headgear on the House floor (to be...

  • FILE PHOTO:  U.S. President Trump displays signature after signing tax bill into law at the White House in Washington

    Did Trump’s Tax Cuts Make America Poorer?

    By Michael Rainey

    Economist Paul Krugman took another look at the 2017 tax cuts in The New York Times Tuesday, arguing that they are “even worse than you’ve heard.” Many critics of the tax bill have complained that...

  • The Worst Tax Idea of 2018

    By Michael Rainey

    The Urban-Brookings Tax Policy Center on Thursday handed out its annual Lump of Coal award for the worst tax idea of the year. The impressive list of nominees from TPC’s Howard Gleckman include: *...

  • States See Record Tax Revenues

    By Michael Rainey

    State tax revenues topped $1 trillion for the first time in the 2018 fiscal year, according to a preliminary analysis by the Urban-Brookings Tax Policy Center. Much of the growth in revenues during...

  • U.S. Treasury Secretary Steven Mnuchin in Washington, U.S., May 23, 2017. REUTERS/Jim Bourg

    Whatever Happened to That 10% Middle-Class Tax Cut?

    By Michael Rainey

    Shortly before the midterm elections, President Trump said his administration was working on a tax cut for middle class. “We are going to be putting in and are studying very deeply right now, around...

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