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Articles on Taxes

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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.
Vice President Kamala Harris speaks at an American Rescue Plan virtual briefing on March 11, 2021 in Washington, D.C. Tasos Katopodis/Getty Images

State lawsuits over stimulus tax rule face uphill battle

States claim the stimulus law assaults state sovereignty by barring local governments from using aid money to cut taxes. But the Supreme Court has consistently approved conditions on federal spending.
President Biden said he wants to raise capital gains taxes to help pay for his ambitious proposals. AP Photo/Andrew Harnik

What’s a capital gain and how is it taxed?

President Biden wants to raise the capital gains tax that wealthy people pay and use the extra revenue to fund new social spending on children and education.
U.S. taxpayers spend more than $2 billion annually in tax preparation fees. Nora Carol Photography/Getty Images

Why can’t the IRS just send Americans a refund – or a bill?

Dozens of prosperous countries save billions of dollars and hours annually by not requiring residents to fill out tax returns, so what is the United States waiting for?
A water bottle sits on the table in front of Chief and NDP candidate Rudy Turtle during a visit by NDP Leader Jagmeet Singh on Oct. 5, 2019 on the Grassy Narrows First Nation, where industrial mercury poisoning in its water system has seriously affected the health of the community. THE CANADIAN PRESS/Paul Chiasson

A sin tax on sugary drinks unfairly targets Indigenous communities instead of improving health

A tax on sugar-sweetened beverages may be intended to improve health, but for Indigenous consumers, such a tax would be unethical, contravene tax law and undermine Indigenous rights.
In ancient Athens, only the richest people paid taxes on wealth, and they were happy to do it. Twospoonfuls via Wikimedia Commons

Only the richest ancient Athenians paid taxes – and they bragged about it

In ancient Athens, the richest people paid taxes to support what the residents considered the salvation of the city. These taxes earned them social and political clout more valuable than money.
Bank of Canada Gov. Tiff Macklem speaks during a news conference at the Bank of Canada on Sept. 10, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

The throne speech: Fiscal prudes are fretting about the wrong issues

While those on the left, right and middle worry about the federal deficit, the real world that we live in is in trouble. The fiscal prudes are fretting about the wrong issues.

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