Taxes

The Deficit Is Heading to $1 Trillion. How Worried Should We Be?

By Michael Rainey

Should we be worried about the rising federal deficit? If not, when should we start worrying – when it hits $1 trillion a year? $2 trillion? Never? That’s the topic of debate in a Bloomberg piece...
7 Numbers That Signal Trouble for the GOP

By Yuval Rosenberg

A new Fox News poll delivers a lengthy list of numbers that signal trouble for Republicans: Democrats hold a 7-point edge over Republicans in the generic congressional ballot for the midterm...
Republicans Have ‘Lost the Messaging Battle’ Over Tax Cuts, GOP Poll Finds

By Yuval Rosenberg

Republicans have “lost the messaging battle” over their tax cuts, according to a survey commissioned by the Republican National Committee. The poll, conducted early this month by GOP firm Public...
IRS Holds Off on New W-4 Form

By Michael Rainey

The Treasury Department announced Thursday that the debut of the Internal Revenue Service’s new W-4 form will be delayed until the 2020 tax year. A draft released earlier this year – you can see it...
Are the Tax Cuts Paying for Themselves?

By Michael Rainey

The Heritage Foundation’s Stephen Moore, a longtime supply-sider who advised President Trump during the 2016 campaign, argues in Wednesday’s Wall Street Journal that “the corporate tax cut is paying...

Federal Tax System Becoming More Progressive: Report

By Michael Rainey

The U.S. tax system has become more progressive in recent years, says Eric Toder of the Tax Policy Center, thanks to real income growth and changes in federal policy. While the tax cuts passed last...
‘Beware Trillion-Dollar Deficits,’ Barron’s Says

By Yuval Rosenberg

In the latest Barron’s cover story, Jack Hough warns of the long-term risks of rising U.S. public debt. While noting that there’s little chance of hitting debt-related turbulence anytime soon and...
Buybacks Are Now the Top Way for Companies to Spend Their Cash

By Michael Rainey

Stock buybacks are now the most popular way for S&P 500 companies to spend their profits, the first time that’s happened in 10 years, Goldman Sachs said in a research note Friday. Buybacks surged...
Kudlow: ‘I Don’t Buy’ That Tax Cuts Boosted Deficit

By Yuval Rosenberg

Larry Kudlow is at it again. Speaking at the Economic Club of New York, the top economic adviser to President Trump said that, while the administration is looking to cut federal spending — including...
Why Trillions in Offshore Profits May Stay Offshore

By Michael Rainey

The tax law that went into effect this year imposed a one-time, reduced tax on profits held overseas by U.S. companies. The tax holiday was designed to encourage corporations to bring money home, to...

Deficit Soaring in 2018

By The Fiscal Times Staff

The federal deficit was 32 percent larger in the first 11 months of fiscal year 2018 than it was during the same time period in 2017, the Congressional Budget Office announced Monday. The deficit...
Tax Cuts 2.0: What’s in the GOP Plan and Why It Matters

By Yuval Rosenberg

With an eye toward November’s midterm elections, House Republicans on Monday unveiled legislation to make permanent the individual tax cuts and pass-through business deductions that were set to...
Trump Wanted Higher Taxes on the Rich – and to Print Lots of Money: Woodward

By Michael Rainey

Bob Woodward’s book on the Trump administration, “Fear: Trump in the White House,” hits bookstores Tuesday but has been making headlines for about a week as details leak out. According to a review of...
Show Me the Money: Sports Betting Off and Running

By Elaine S. Povich, Stateline

Are you ready for some football? How about some football bets? With the opening of the NFL season, states that recently legalized sports gambling are hoping to cash in through increased tax revenue...
Obama: 'Suddenly Deficits Do Not Matter'

By Yuval Rosenberg

Former President Barack Obama stepped back into the political fray on Friday, delivering a blistering rebuke of President Trump and the Republican Party while signaling how he plans to campaign on...