Radical tax simplification: The impossible dream? – Urban-Brookings Tax Policy Center

“On March 19, Urban-Brookings Tax Policy Center Co-Director William Gale reviewed issues with tax simplification and analyzed four major revenue-neutral proposals for federal income tax reforms, each of which would create a simpler and more progressive system. The event featured a demonstration of a new page on the Tax Policy Center website that allows anyone to compare their filing requirements and tax burdens under the current system as well as the proposed alternatives. A panel followed, featuring Ariel Greenblum (Tax Notes), Margot Crandall-Hollick (Urban Institute), and Natasha Sarin (Budget Lab at Yale), moderated by Wall Street Journal Reporter Richard Rubin.”

Democrats look for new ways to tax the super-rich – WaPost

“President Biden is pitching a 25 percent tax on unrealized gains on assets for households worth more than $100 million.”

“Warren and others on the left want to change the definition of income. They point to very wealthy people, with almost no wage income, who live off their investments by obtaining tax-free loans before passing on tax-advantaged appreciated assets to heirs. This strategy — called “buy, borrow, die” — was detailed in a 2021 ProPublica investigation that helped focus fresh attention on the idea of taxing wealth rather than income.”