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...

Foreign Ownership of US Debt Continues to Decline

By Michael Rainey

Foreign demand for U.S. government debt has been declining in recent years but domestic investors have picked up the slack, The Wall Street Journal’s Daniel Kruger and Kate Davidson reported...
Cities and States Pick Up Some of the Infrastructure Slack

By The Fiscal Times Staff

Although the federal government still has a lot of work to do with respect to planning and funding infrastructure investment, state and local governments are moving ahead with plans to “fix the damn...
Is It Time to Start Selling 100-Year Bonds?

By Michael Rainey

With the U.S. facing a $12 trillion deficit over the next decade, the Treasury Department is exploring ways to maintain robust demand for American debt. One option being considered is the sale of “...
A Fiscal Hawk Argues for Infrastructure Investment

By Michael Rainey

The stimulus from the GOP tax cuts and the bipartisan increase in federal spending in 2018 is starting to fade, says Diane Swonk, chief economist at the tax and advisory firm Grant Thornton. Writing...
Tax-Cut's Benefits Shrinking for Some U.S. Companies

By The Fiscal Times Staff

Some U.S. corporations have overestimated the windfall they’ll receive from the 2017 tax law, The Wall Street Journal’s Theo Francis and Richard Rubin report . In one example, Las Vegas Sands Corp...