• Chart of the Day: US Household Income

    By Michael Rainey

    The Congressional Budget Office released a new report Monday on the distribution of income in the U.S. Ignoring means-tested transfers and federal taxes, the average household income in 2014 was $19,...

  • Democrats’ New Weapon in the Tax Wars: Interactive Maps

    By Michael Rainey

    The political battle over the effects of the Republican tax cuts is heating up, with Democratic lawmakers on the Joint Economic Committee releasing a set of interactive maps Monday designed to show...

  • Minor League baseball players stretch in Maryland before game

    Tax Bill Throws Wicked Curve at Pro Sports Teams

    By Michael Rainey

    Thanks to a 1967 ruling from the IRS, professional sports franchises have made trades without worrying about taxes. Under the rule, player contacts were swapped as “like-kind property,” a tax-free...

  • A Withering Take on the New Pass-Through Tax Rules

    By The Fiscal Times Staff

    Daniel Shaviro , a tax law professor at New York University, published an analysis of the new U.S. rules for pass-throughs, and the abstract for the paper is just scorching: "The pass-through rules...

  • Federal income tax rates fell during the Ronald Reagan years—no surprise there. But according to March data from the <a href="" target="_blank">Tax Policy Center</a>, rates have continued t

    Liberal and Conservative Policy Wonks Agree: Sneaky Tax Breaks Need to Go

    By Michael Rainey

    There was rare agreement across the political spectrum at the House Ways and Means Tax Policy subcommittee hearing this week, with policy experts from Heritage Foundation, the Institute on Taxation...

  • Analysis: Citi reaps profits from hiring rainmakers 2-3 years ago

    Banks Take a Temporary Hit from Tax Overhaul

    By Michael Rainey

    The Federal Deposit Insurance Corporation said that bank profits were down 40.9 percent in the fourth quarter of 2017 compared to a year earlier, due primarily to charges related to the tax overhaul...

  • 8. Las Vegas

    Nevada Cashes In on Pot Sales

    By The Fiscal Times Staff

    Marijuana sales became legal — and taxable — in Nevada last July, and the state collected a bit more than $30 million in tax revenue during the first six months, well ahead of projections. A 10...

  • Traders celebrate after the closing bell on the floor of the NYSE in New York

    The Battle Over Corporate Buybacks

    By Michael Rainey

    Corporate buybacks have hit record highs and dividends are rising too, according to Tuesday’s Wall Street Journal , driven upward by both strong earnings and the $1.5 trillion tax cut Congress passed...

  • Trump’s Infrastructure Plan Falls at Least $1.3 Trillion Short: Wharton

    By Michael Rainey

    President Trump’s $1.5 infrastructure plan calls for $200 billion in direct federal spending, with the remaining $1.3 trillion coming from state, local and private sources. But the unusual financing...

  • Australia Wants to Jump-Start Trump’s Infrastructure Plan

    By Michael Rainey

    During his visit to the White House this week, Australian Prime Minister Malcolm Turnbull is expected to propose using part of his nation’s roughly $2 trillion pension savings pool to invest in U.S...

Taxes Directory

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