Paul L. Caron

Monday, November 2, 2020

NY Times Tax Articles

Republicans, Not Biden, Are About to Raise Your Taxes, by Joseph E. Stiglitz (Columbia):

The Trump administration has a dirty little secret: It’s not just planning to increase taxes on most Americans. The increase has already been signed, sealed and delivered, buried in the pages of the 2017 Tax Cuts and Jobs Act. ... The increases, unfairly aimed at the vast majority of Americans who are disproportionately suffering in the pandemic, will cause even more hardship. They must be stopped.

How a Century of Real-Estate Tax Breaks Enriched Donald Trump, by Jesse Drucker & James B. Stewart:

The real estate industry has long enjoyed uniquely favorable tax treatment — thanks in part to Mr. Trump’s actions before and after he became president. ...

“The real estate industry has enjoyed the most lucrative tax breaks for decades,” said Victor Fleischer, a tax law professor at the University of California, Irvine, and former chief tax counsel for the Senate Finance Committee. The industry “thinks of the tax code as a basket of goodies to feast on rather than a financial obligation of doing business.”

Without More Enforcement, Tax Evasion Will Spread Like a Virus, by Robert H. Frank:

The I.R.S. is on few people’s most-loved lists, yet the agency needs more money to enforce the tax code, an economist says. ...

A creative study by the economists Jörg Paetzold and Hannes Winner sheds light on the extent to which peer behavior influences tax evasion [Tax evasion and the Social Environment]. It employs data from Austria, where the government allows workers to deduct commuting expenses from their income for tax purposes.

New York Times, The President’s Taxes: A Reader’s Guide:

Over the past four years, The New York Times has independently obtained and published information on several decades of Donald J. Trump’s taxes.

California Tax Revolt Faces a Retreat, 40 Years Later, by Conor Dougherty:

Proposition 13 in 1978 curbed property tax increases. Now voters may strip protection for commercial buildings, helping hard-hit local budgets. ...

It is not uncommon for neighbors to pay double or triple the taxes of a similar home on the same block. A recent analysis of property taxes across the Bay Area is rife with eye-popping comparisons, like a $9 million home in an exclusive neighborhood of San Francisco that has lower property taxes than a $331,000 home near an oil refinery across the bay in Richmond.

Biden and Surrogates Hit Trump on Taxes in Closing Argument, by Danny Hakim & Susanne Craig:

As former Vice President Joseph R. Biden Jr. and his surrogates make their closing arguments in battleground states stressed by economic hardship amid the pandemic, they often focus on one number: $750.

That’s the amount President Trump paid in federal income taxes in 2016 and again in 2017, a recent New York Times investigation found. And as Mr. Biden accuses Mr. Trump of not doing enough to help working families, he and his allies have held up the president’s income tax bill as a potent symbol of the inequities they seek to remedy in the American tax system.

Prior TaxProf Blog coverage:

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