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One of the best arguments for the existence of The Budget Lab is that you can get this kind of nuance about the revenue estimate, instead of JCT's obligation to give us one number without error bars (albeit often with helpful detail/caveats in the text if you dig deep enough).

lol, at this point why not just admit the plan is to repeal the income tax and "replace" it with tariffs. also, um, since the tariffs will be by executive order & so will not score as revenue, the plan needs 60 votes in the senate. IOW, it is bullshit. But we knew that already.

What do you do if you’re making over $1B/year from short-term trading but want to avoid taxes? If you're the head of one of the most profitable firms on Wall Street, you find creative ways to transform the "wrong" sort of income into the right kind. propublica.org/article/billio…

At my shop, we receive newsworthy materials with relish, no matter the source -- or even if we don't know the source. I'm at 718-496-5233 on Signal by the way.

Be safe Tallahassee friends.

The 10 Most-Cited Tax Faculty bit.ly/3Y3FyT1 Michigan Law School @WeisbachD UChicago Law School Daniel Shaviro NYU Law Dorothy A Brown Georgetown Law Duke Law David Gamage Mizzou Law UC Davis Law Yale Law School Lily Batchelder Victor Fleischer UC Irvine School of Law

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Following up this thread, I'm quoted along with some actual ethics experts (who agree with me!) in this story about how Congress has quietly exempted itself from its legal obligation to disclose private equity investment holdings. jacobin.com/2024/10/lawmak…

Look, they gave the "everybody must get stoned" guy the prize for freaking Literature, so I really don't want to hear it from the physicists.

The 2025 expiration of the Trump estate tax cuts, which were part of the 2017 tax bill, hasn’t received as much attention as other parts of the upcoming debate. It deserves more as I discuss in this research brief published by Equitable Growth today: equitablegrowth.org/research-paper…

Approx. 100% of this campaign's tax policy ideas are built around voters not understanding tax incidence.

The ultrawealthy *really* don't like taxing unrealized gains because... our current income tax system barely taxes them. For more: searchengine.show/listen/search-…

This result shouldn't surprise us. The idea of mass tax exodus is often based on anecdotal evidence and very loud complaining from individual billionaires. In practice the very rich are still bound to places and countries

I am not proposing a national sales tax. A tariff is just an extra charge on all the things you buy, paid by the seller or seller's supplier, which will definitely not affect the price they charge you. I mean, pretty much definitely.

Trump’s plan to replace the income tax with tariffs is, simply put, a mathematical impossibility. My new piece The Washington Post explains the challenges (including unwelcome consequences) with Trump’s proposed swap. washingtonpost.com/opinions/2024/…