The Hill is reporting that the Obama administration is flirting with the idea of taxing cars based on how many miles they drive. From the Hill: The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they [...]

Thanks to many loopholes in our tax code–the carried interest loophole being the most important–the richest people in American are likely paying a lower tax rate than you are. From Businessweek: For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate—what they actually pay—fell from almost 30 percent [...]

The lame duck session of Congress is shaping up to be dominated by the issue of what to do with the “Bush tax cuts” set to expire at the end of the year. Democrats want to extend the Bush tax cuts only for everyone making less than $250,000, but the Republicans are insisting that they [...]

Democratic senators Chuck Schumer and Mark Warner are floating two new compromise to deals for extending the soon-to-expire Bush era tax cuts. From the New York Times: Two Democratic senators on Sunday tried to step into that perceived void. Senator Charles E. Schumer of New York proposed limiting an extension of the Bush tax cuts [...]