• 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...

  • Veterans Affairs Secretary David Shulkin speaks in Washington

    VA Chief Misused Taxpayer Money: Report

    The Trump administration, already embroiled in controversy over its handling of the domestic violence allegations against senior White House aide Rob Porter, now faces a new scandal: Veterans Affairs...

  • The Best of Twitter’s #TaxValentines

    Seeing the #TaxValentines hashtag on Twitter got our hearts all aflutter today. Here are some of the tweets we loved best. If you can top these, send your submissions to

  • Mulvaney listens as U.S. President Donald Trump meets with members of the Republican Study Committee at the White House in Washington

    Can Mick Mulvaney Still Call Himself a Deficit Hawk?

    Mick Mulvaney, director of the White House Office of Management and Budget, may have just put out a budget proposal that never reaches balance and that projects more than $7 trillion in deficits over...

  • Delaware’s Tax Cut Gold Rush Is Coming to an End

    By Michael Rainey

    Since late 2017, hedge fund and private equity executives have created thousands of shell companies in America’s most forgiving tax jurisdiction in what appears to be an effort to game the Republican...

  • FILE PHOTO:  Fannie Mae headquarters is seen in Washington, DC, U.S. on February 21, 2014.  REUTERS/Kevin Lamarque/File Photo

    Fannie Mae Whacked by New Tax Rules

    By Michael Rainey

    The Republican tax overhaul took a big bite out of Fannie Mae, the mortgage giant that has been managed by the federal government since the 2008 financial crisis. The new tax rules forced Fannie Mae...

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