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In the News

Leftist Tax Schemes Bash The Rich, But Depend On Their Success

quoting Thomas Sowellvia The Press-Enterprise
Saturday, February 9, 2019

Nineteenth century historian Thomas Carlyle called economics “the dismal science” because of its predictions about scarcity and poverty. Those are immutable features of all societies, which explains why his snarky term remains widely used.

Blank Section (Placeholder)Featured

Area 45: Is Taxing Wealth “Economic Justice?” With John Cochrane

interview with John H. Cochrane via Area 45
Thursday, February 7, 2019

The merits of the various proposed tax hikes and whether they constitute sound economics.

Blank Section (Placeholder)Analysis and Commentary

The Libertarian: The New Progressive Agenda

interview with Richard A. Epsteinvia The Libertarian
Thursday, February 7, 2019

Examining a raft of left-wing policy proposals from 2020 presidential candidates.

Analysis and Commentary

Cuomo Admits Tax Burden On "The Rich"

by David R. Hendersonvia EconLog
Thursday, February 7, 2019

Finally, a major Democratic politician admits it. "Governor Andrew Cuomo said the super-wealthy in New York – accounting for 1 percent of tax filers – end up paying 46 percent of the personal income taxes the state collects each year."

In the News

AOC Wants To Soak The Rich. Here's Why That's A Bad Idea.

quoting John H. Cochrane via Chicago Tribune
Wednesday, February 6, 2019

Every so often, a rising young Democratic star comes along with an idea that boldly challenges the status quo. Today, it’s Rep. Alexandria Ocasio-Cortez of New York, who wants to raise the top income tax rate. In 1982 it was Sen. Bill Bradley of New Jersey, who proposed an overhaul of income taxes that “seemed revolutionary and impossible,” The Washington Post said in 1986.

In the News

Chart Of The Day: The Inverse Relationship Between The Top Marginal Income Tax Rate And The Tax Burden On ‘The Rich’

quoting Thomas Sowellvia AEI
Friday, February 1, 2019

Now that Rep. Ocasio-Cortez wants to raise the top personal income tax rate to 70% and Rep. Ilhan Omar thinks 90% would be even better, it might be a good time to review the history over time from 1960 to 2013 of: a) the top marginal tax rate in every year and b) the share of total income taxes collected from the top one-half percent of taxpayers.

Analysis and Commentary

CBO As Agenda Setter On Tax Policy

by David R. Hendersonvia EconLog
Monday, January 28, 2019

In December 2018, the Congressional Budget Office published a 316-page report titled Options for Reducing the Deficit: 2019 to 2028. Those reports are often useful because they can tell you the implications for the deficit of various changes in government spending and in tax law. This report is relatively comprehensive. It examines dozens of ways in which the U.S. government could cut spending and dozens of ways in which it could increase taxes. 

Henderson's Case Against Higher Taxes

by David R. Hendersonvia EconLog
Thursday, January 24, 2019

A number of Democratic politicians—and some economists including Paul Krugman—have recently advocated substantially higher income tax rates on high-income Americans. The current top federal tax rate on income is 37 percent for married people filing jointly, and it applies to all taxable income over $612,350. The highest state income tax rate in the United States is in California, where it is 13.3 percent on taxable income over $1 million. 

Analysis and Commentary

Henderson's Case Against Higher Taxes

by David R. Hendersonvia EconLog
Thursday, January 24, 2019

A number of Democratic politicians—and some economists including Paul Krugman—have recently advocated substantially higher income tax rates on high-income Americans. The current top federal tax rate on income is 37 percent for married people filing jointly, and it applies to all taxable income over $612,350. The highest state income tax rate in the United States is in California, where it is 13.3 percent on taxable income over $1 million. Thus, the highest-income people in California lose over half of their incremental income to the government. 

In the News

Tax-Happy CA Hears News Promises From Newsom

quoting Lee Ohanianvia One News Now
Monday, January 21, 2019

The left-wing governor of a left-wing state is promising help for the poorest in its borders, a state with some of the highest taxes in the country.

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