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Articles on Income tax

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Several lawmakers from high-tax states like New York are pushing for changes to a key tax deduction in Democrats’ $3.5 trillion spending package. Kent Nishimura/Los Angeles Times via Getty Images

Some rich people will love at least one sweetener in Democrats’ $3.5 trillion plan

The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.
Some extremely rich people are paying a much smaller share of their income on taxes than other folks. Nuthawut Somsuk/iStock via Getty Images Plus

A new reason Americans are getting leery of billionaire donors

News about how little income tax some of the richest Americans reportedly pay is adding to questions about the value to society of their massive charitable donations.
A sign in Texas in 1939, at the end of the Great Depression. (The New York Public Library/Unsplash)

Put your trust in taxes during the coronavirus pandemic recovery

The Canadian federal government’s COVID-19 Economic Response Plan includes tax-related measures. It’s helpful to examine tax supports for individuals by considering the past, present and future.
Crash or crash through? Treasurer Josh Frydenberg and Prime Minister Scott Morrison walk to a meeting with the Reserve Bank governor on Wednesday. Joel Carrett/AAP

Frydenberg declares tax package must be passed ‘in its entirety’

In an interview with The Conversation, Frydenberg refused to be drawn on what the government would do if unable to get the whole bill through.

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