mark-to-market Archive
Billionaires Tax on Capital Gains Invites Tax Collection Volatility
October 26, 2021
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TweetShareSharePin0 Shares Congressional Democrats are reported to be weighing a special tax on the assets of billionaires to raise revenues to pay for their Build Back Better spending plan. There are two fundamental challenges to such a plan. First, the incomes and wealth of such individuals are anything but stable; they rise and fall with
Wyden Tax Proposals & Reconciliation
September 7, 2021
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TweetShareSharePin0 Shares Congressional lawmakers are putting together a reconciliation bill to enact much of President Biden’s Build Back Better agenda. Many lawmakers, however, want to make their own mark on the legislation. Senate Finance Committee Chair Ron Wyden (D-OR) has released his own proposals on a variety of tax issues that differ in some important
Wyden Mark-to-Market Bill | Wyden Financial Services Tax Proposals
September 7, 2021
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TweetShareSharePin0 Shares Sen. Ron Wyden (D-OR) has introduced a series of proposals that may be considered in the budget reconciliation process, including two bills that would change the tax treatment of financial services: derivatives and carried interest. Notably, both proposals would enact “mark-to-market” taxation for derivatives and carried interest, which could be a precursor to
Taxing Consumption Progressively Is a Better Way to Tax the Wealthy
June 8, 2021
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TweetShareSharePin0 Shares A new report from ProPublica argues that wealthy taxpayers face low effective tax rates as a portion of their wealth and mentions taxing unrealized capital gains or imposing a wealth tax. However, a better approach to raising the tax burden on the wealthy would be to pursue progressive consumption taxes as they have
