Focus on Tax Policy

Focus on Tax Policy

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On June 23, the House Ways and Means Committee held a hearing on tax policy and foreign direct investment in the U.S.

A June 23 Bloomberg poll found that people are about evenly split on eliminating tax preferences for mortgage interest, education expenses, charitable contributions, and child care expenses in return for lower tax rates. They are less willing to give up the exclusion for employer-provided health insurance or the deduction for 401(k) contributions.

On June 23, the U.S. Government Accountability Office released a report on foreign tax administration practices that may provide insights for the U.S.

In a June 22 paper, Boston College law professor Brian Galle argued that the deduction for charitable contributions should be scaled back.

On June 22, the Tax Policy Center hosted a conference on tax administration at which a number of papers were presented that are posted online.

In a June 16 commentary, Howard Gleckman of the Tax Policy Center noted that eliminating taxation of capital gains, as several Republican presidential candidates have proposed, would eliminate 20,000 people with at least $1 million of income from paying any federal income taxes at all.

Also on June 16, the International Monetary Fund published a study examining the impact of raising Japan’s value-added tax.

In a June 14 commentary, economist Martin A. Sullivan discussed the problem of taxing flow-through entities that are exempt from the corporate income tax.

On June 14, the Joint Committee on Taxation published a report on tax proposals in the President Obama’s 2012 budget.

On June 13, I published an article in Tax Notes magazine reviewing the history of the 2001 tax cut on its 10th anniversary.

On June 10, the Tax Policy Center published estimates of the impact of the tax proposal put forward by Republican presidential candidate Tim Pawlenty. It finds that it would reduce revenues by $12 trillion over the next 10 years.

I last posted items on this topic on June 14.

Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Imposter: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).

Bruce Bartlett’s columns focus on the intersection of politics and economics. The author of seven books, he worked in government for many years and was senior policy analyst in the Reagan White House.