Taxes

Higher Taxes on the Rich? Americans Overwhelmingly Say Yes

By Yuval Rosenberg

President Trump has sought to tar Democrats as socialists, and his 2020 campaign spokesperson responded to Bernie Sanders’ announcement Tuesday that he’s making another bid for the White House by...
Bernie Sanders Says He’s Running Again. Why 2020 Will Be Different Than 2016.

By Yuval Rosenberg

Sen. Bernie Sanders (I-VT) announced Tuesday that he’s making another run for the Democratic presidential nomination. Among the items on the 77-year-old democratic socialist’s 2020 agenda: enacting a...
Elizabeth Warren Proposes Universal Child Care, Paid for by Taxing Millionaires

By Yuval Rosenberg

Sen. Elizabeth Warren (D-MA), who’s running for the 2020 Democratic presidential nomination, on Tuesday unveiled a universal child care plan that would cap families’ expenses at 7 percent of income...
Trump on the $22 Trillion National Debt: 'Growth Will Straighten It Out'

By Michael Rainey

President Trump was asked at his wide-ranging press conference Friday about the roughly $2 trillion increase in public debt during the first two years of his administration: Question: Let me also ask...
Poll of the Day: Democrats and Taxes

By The Fiscal Times Staff

Democrats and Republicans receive roughly equal grades when it comes to the question of which party is best suited to handle taxes, according to an analysis by Navigator , a polling and research...

Amazon Pulls the Plug on NYC Headquarters

By Michael Rainey

Amazon is canceling its plan to build a corporate campus in New York City, the company announced Thursday. The decision comes following months of local criticism of the project, in which the company...
The Great Debt Debate: How Dangerous Is It?

By Michael Rainey

MIT economist Olivier Blanchard caused a stir in fiscal circles last month with an academic paper suggesting that current levels of public debt may be less worrisome than many experts think (see our...
Why Smaller Tax Refunds Could Ding the Economy

By Michael Rainey

Although tax season has only just begun, early data from the IRS shows that the average individual tax refund is 8.4 percent smaller so far this year. Some critics have been quick to blame the...
Shutdown Makes a Bad Situation Worse at the IRS

By Michael Rainey

A new report from National Taxpayer Advocate Nina E. Olson says that the 35-day government shutdown just before the start of the tax season produced “real harm” for taxpayers as the IRS struggled to...
Goldman Sachs Projects Deficit Will Top $1 Trillion Next Year

By Yuval Rosenberg

The Congressional Budget Office projected last month that the federal budget deficit for this year would be about $900 billion , up 15 percent from last year but about $84 billion less than it had...

The High Cost of the Shutdown — and What Happens Next

By Yuval Rosenberg

Federal employees affected by the 35-day partial government shutdown returned to work Monday — though it will likely be awhile before they can say their lives have returned to normal. Some federal...
‘Greatest Threat’ to the US? Two Top Democratic Economists Aren’t So Worried About the Debt

By Michael Rainey

Starbucks founder Howard Schultz told “60 Minutes” Sunday that he is considering a run for president in 2020, possibly as a “centrist independent,” and one of his top issues is the growing national...
Deficit Rising, but Won’t Hit $1 Trillion Until 2022, CBO Projects

By Michael Rainey

In new budget and economic projections released Monday , the Congressional Budget Office said annual deficits are expected to rise above $1 trillion in 2022, two years later than previous estimates,...
Thousands of Unpaid IRS Employees Did Not Return to Work Early This Week

By The Fiscal Times Staff

More than half of the furloughed IRS employees who had been called back to work during the government shutdown to handle tax returns and taxpayer questions did not return as of Tuesday, according to...
The Left's Next Weapon to Fight Inequality: A Wealth Tax

By Michael Rainey

Democratic presidential hopeful Sen. Elizabeth Warren (MA) plans to propose a new wealth tax on the very rich, The Washington Post reported Thursday. The Post’s Jeff Stein and Christopher Ingraham...