Follow Newser on Twitter   Friend Newser on Facebook
Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

NEWS ABOUT: tax reform

Guess Who Else's Secretary Pays Higher Tax Rate?

White House says Anita Decker Breckinridge pays higher rate than Obama, pushes Buffett Rule

(Newser) - Turns out Warren Buffett's secretary isn't the only one paying a higher tax rate than her rich boss: Anita Decker Breckenridge, the president's own secretary, pays a "slightly higher" tax rate on her $95,000 salary than the 20% Obama paid on his $790,000 , reports... More »

Obama Looks to Bludgeon Romney With Buffett Rule

Or is that the 'Romney Rule'?

(Newser) - On a recent White House conference call on the Buffett Rule , a reporter offered President Obama's staff an idea: Why not call it the "Romney Rule?" So far they haven't taken that suggestion, but they are giddy at the prospect of campaigning for the rule, which would... More »

Obama, GOP Blowing Hot Air on Tax Plans

Mayor Bloomberg: Let Bush cuts expire and pass Bowles-Simpson

(Newser) - Mike Bloomberg sounds a little weary of election-year politics as it pertains to the economy. President Obama, for instance, is tacking way left with his populist call to soak the rich. His tax plan "is a political strategy, not an economic one," writes Bloomberg in the Wall Street ... More »

Obama Pushes Sweeping Corporate Tax Reform

Top rate to be cut as playing field leveled, Geithner says

(Newser) - President Obama is planning the biggest overhaul of the corporate tax code since Ronald Reagan's in 1986. The administration will soon unveil a blueprint for making the code more fair and lowering the top rate of 35%, which is among the highest in the world, Treasury Secretary Timothy Geithner... More »

30 Top Corporations Paid US No Taxes, Despite Profit

Few companies actually pay 35% rate

(Newser) - America may have a lofty 35% corporate tax rate—but who actually pays that? A new study from a pair of left-leaning think tanks examined 280 Fortune 500 companies from 2008-2010, and found that their average effective rate was 18.5%, with a quarter paying less than 10% and 30... More »

Rick Perry's Tax Plan: Are You Serious?

Perry's tax plan can't possibly work, Kevin Drum argues

(Newser) - Well, Rick Perry’s tax plan is out , and it’s left Kevin Drum of Mother Jones sort of speechless. “What can you even say about this?” he marvels. “It sounds less like a tax plan than a big ol' stew pot of right-wing applause lines.” Perry... More »

Perry Rolls Out '20-20' Flat Tax Plan

'Cut, Balance, and Grow' plan cuts corporate tax rate

(Newser) - Rick Perry has rolled out a flat tax plan to rival Herman Cain's "9-9-9" plan. The Texan's "20-20" plan—or, as he calls it, "Cut, Balance, and Grow"—cuts the corporate tax rate from 35% to 20% and allows individuals to choose between paying... More »

For Most, Cain's '9-9-9' Plan a Tax Hike

'Washington Post' fact checkers say Cain's plan is misleading

(Newser) - Herman Cain is being dishonest in touting his “9-9-9” plan, positioning it as some kind of tax cut, when “in reality tens of millions of lower income Americans would face tax increases,” Washington Post fact checker Glenn Kessler has concluded, giving Cain three out of four Pinocchios.... More »

Real Villain of Tax Breaks: Middle Class

Corporations account for just 8% of tax breaks

(Newser) - Tax loopholes and write-offs for corporate jets and special interests may fill political talking points, but tax breaks for families—particularly the middle-class families that President Obama says he wants to protect—far exceed corporate giveaways, reports the Washington Post . In fact, corporations accounted for just 8% of $1.08... More »

Jon Huntsman Proposes Vast Tax Overhaul

Plan would hack taxes on rich, effectively raise them on middle class

(Newser) - Languishing in polls, Jon Huntsman veered to the right yesterday, laying out a sweeping economic plan that would scrap a variety of regulations, slash taxes dramatically for the wealthy, and eliminate loopholes. “Our tax code is too complex, our rates are too high, and the tax burden is carried... More »

Obama: We'll Always Be AAA

President addresses downgrade with optimism

(Newser) - Barack Obama did his best to reassure the country after the Standard & Poor’s downgrade of the US credit rating. S&P pulled the trigger “not so much because they doubt our ability to pay our debt,” Obama explained , but because “they doubted our political system’... More »

Obama, Boehner Near 'Grand Bargain'—Maybe

Reports cite $3T deal with tax reform, entitlement changes

(Newser) - President Obama and John Boehner are reportedly back at the bargaining table, and they could be near a deal to cut the deficit and raise the debt ceiling. The rumored $3 trillion agreement between the administration and top Republicans could include entitlement changes and set plans for tax reform, reports... More »

Pawlenty: Obama a 'Champion' of Class Warfare

Calls for huge tax cut for wealthy in speech

(Newser) - Tim Pawlenty delivered a combative speech today in which he called for massive changes in the tax code and accused Barack Obama of being a “champion practitioner of class warfare.” Pawlenty proposed a system with just two tax brackets, taxing the first $50,000 of income ($100,000... More »

Tax Reform: The Simple, Perfect Budget Fix

Both parties can get what they want: just fix the 'lunatic' tax code, writes Clive Crook

(Newser) - Tax Day is a painful reminder that Form 1040 "is to personal finance as waterboarding is to asking some questions," writes Clive Crook in the Financial Times . But it doesn’t have to be: "If ever there were a free lunch, if ever there were a dollar... More »

Obama Mulls Tax Code Overhaul: Cut Breaks, Rates

Move would be attempt to address national debt

(Newser) - The Obama administration is investigating sweeping income tax code reform as a means of shrinking the deficit, the New York Times reports. President Obama has called on advisers to look into cleaning up the income tax code, ridding it of complexities and loopholes to make it more straightforward for both... More »

Obama Should Scrap the Current Tax Code

David Brooks: Starting over might actually unite both parties

(Newser) - Barack Obama shouldn’t worry about tweaking the current tax system—he should try to replace it, writes David Brooks of the New York Times . In Brooks’ vision, Obama would go before the American people and end the Bush tax cut debate. “I have my own views,” he... More »

16 Stories
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   BuzzFeed   |   Cracked   |   Timelines   |   Geek Sugar   |   Business Insider   |   HuffPost Entertainment