Chuck Marr

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Chuck Marr

Chuck Marr

@ChuckCBPP

Vice President of Federal Tax Policy at the Center on Budget and Policy Priorities.

Washington, DC Katılım Mayıs 2013
1K Takip Edilen4K Takipçiler
Chuck Marr retweetledi
Patrick Driessen
Patrick Driessen@pdriessentax·
Economists and groups for years have advocated that the main distributional focus should be a proposal's change in after-transfer-after-tax income. Sadly, it's not working. Left is CBO's 'after' analysis for OBBBA. Right exemplifies what OBBBA supporters emphasized. 1/2
Patrick Driessen tweet mediaPatrick Driessen tweet media
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Ted Lieu
Ted Lieu@tedlieu·
Dear @RepRalphNorman: Please watch this video. You and I were Members of Congress when January 6 happened. Remember? Happy to bring police officers who were assaulted on January 6 to your office so they can explain to you how they got their injuries.
Acyn@Acyn

Rep. Norman: January 6th was an issue that was made up in the first place. Reporter: Made up? Norman: That was a staged thing from day one. Reporter: The riot was staged? Your Republican colleagues barricaded themselves in their chamber. You think they were acting?

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Chuck Marr
Chuck Marr@ChuckCBPP·
@ChachaMarquis @mattyglesias That’s a fair point but politics can often be complex and the path is not necessarily direct, eg strong pressure on unrealized gains could make it easier to get those other things, judgment call
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Marquis ChaCha
Marquis ChaCha@ChachaMarquis·
@ChuckCBPP @mattyglesias the idea that dems should spend massive political capital on a MTM wealth tax that likely will just get struck down by SCOTUS is not a good idea when there are very very obvious alternatives that would solve all of this.
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Matthew Yglesias
Matthew Yglesias@mattyglesias·
It’s both true that the US tax code is very progressive and also that a prolonged bull market in stocks, where equity prices have risen much faster than wages or GDP, has left the distribution of wealth extremely unequal.
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Chuck Marr
Chuck Marr@ChuckCBPP·
@ChachaMarquis @mattyglesias Yeah, I get that, but narrowly tailored. Was just thinking of liquidity concerns often raised which other people face in other contexts (separate but even middle class owners face). I get it’s not apples to apples and it’s complex- but it’s too much income going untaxed imo
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Marquis ChaCha
Marquis ChaCha@ChachaMarquis·
@ChuckCBPP @mattyglesias i work in tax. you are not talking about accrual accounting. you’re talking about mark to market accounting & getting rid of the recognition requirement that is the foundation of our system bc certain people are screaming about a handful of pubco founders. does that make sense?
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Joe Scarborough
Joe Scarborough@ScarboroughNow·
Beat up cops and Republicans will pay you.
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Staff Sergeant Gonell, Aquilino
Staff Sergeant Gonell, Aquilino@SergeantAqGo·
They didn't want to award the Capitol Police a medal or a plaque but want to reward the people who orchestrated and took part in the violence that injured me and ended my career. In the name of national reconciliation, they pardoned the same rioters who attacked us and now being rewarded for the violence they inflicted on us the officers. They are trying to make the lives of the rioters whole or better than before they assaulted us. Yet to the officers, no apology, no compensation, no acknowledgment of the bravery and sacrifice we made to protect “each of your representatives” regardless of what party they belong. Why did we risk our lives for then? What a betrayal this is to us and to the rule of law days after “police week”.
Staff Sergeant Gonell, Aquilino tweet mediaStaff Sergeant Gonell, Aquilino tweet mediaStaff Sergeant Gonell, Aquilino tweet mediaStaff Sergeant Gonell, Aquilino tweet media
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Chuck Marr
Chuck Marr@ChuckCBPP·
@ChachaMarquis @mattyglesias Shifting from cash accounting to some on an accrual basis does strike many as unrealistic- until one thinks about how businesses are taxed
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Marquis ChaCha
Marquis ChaCha@ChachaMarquis·
@ChuckCBPP @mattyglesias i agree on the estate / inheritance tax points. it really would not be hard to fix those (but fmv basis once taxed is correct). taxing unrealized capital gains does not make sense and won’t work. the way to do that is to tax at death & no CG preference for rich people.
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Chuck Marr
Chuck Marr@ChuckCBPP·
@ChachaMarquis @mattyglesias Odder still is that on a main source of financial inheritance, IRA/401(k) balances, middle-class heirs pay tax on all of it - including unrealized gains - at ordinary income tax rates
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Chuck Marr
Chuck Marr@ChuckCBPP·
@ChachaMarquis @mattyglesias And there needs to be a meaningful tax on inheritances of wealthy heirs. It’s always been odd that right wing obsessions stops at people who inherit massive sums
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Stephanie Grisham
Stephanie Grisham@OMGrisham·
I resigned on Jan 6 & lost everything & live in fear. I watched these criminals get pardons, see new corruption from the WH every day, & now taxpayer $ set aside to reward them for their loyalty & maintain his own personal army. Where are you Congress? Cabinet? Anyone???
Jake Justice@jakecobb

Keep posting this so people don’t forget how truly bad this event was. Don’t let people gaslight you into thinking it was peaceful and worthy of 1500+ pardons and slush fund payoffs.

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Katie Bergh
Katie Bergh@Katie_Bergh·
About half of states are projected to face SNAP cost-sharing penalties of $100+ million a year, based on the most recent official data. That's already driving some states to take drastic steps to cut costs that are making it much harder for eligible families to access SNAP.
Grace Yarrow@YarrowGrace

Scoop: Senate GOP is considering delaying a cost-share SNAP requirement passed in their megabill last year - in order to garner enough support to pass a farm bill Some Rs privately support delaying it, as their states will be hit by the SNAP overhaul subscriber.politicopro.com/article/2026/0…

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Jesse Eisinger
Jesse Eisinger@eisingerj·
The facts: -Bezos paid $0 fed'l income tax in 2007 -He paid $0 in '11 -Btn '14-19, his wealth grew by $99 BILLION and he paid $973 million in taxes. Sounds like a lot but it's 0.98% of his wealth growth (which is his true income).
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Squawk Box@SquawkCNBC

"People sometimes say that I don't pay taxes. It's not true. I paid billions of dollars in taxes," says @JeffBezos. "That's not going to solve the problem. You could double the taxes I pay and it's not going to help that teacher in Queens."

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Jake Justice
Jake Justice@jakecobb·
Keep posting this so people don’t forget how truly bad this event was. Don’t let people gaslight you into thinking it was peaceful and worthy of 1500+ pardons and slush fund payoffs.
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Chuck Marr
Chuck Marr@ChuckCBPP·
@dylanmatt @kpomerleau But we redistribute much less than other wealthy countries -- a key reason we end up as the most unequal wealthy country after taxes and transfers
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Kyle Pomerleau
Kyle Pomerleau@kpomerleau·
No, the U.S. tax system *is* highly progressive: effective rates rise sharply with income. Justin and others are confusing this with a distinct concept: redistribution. Our overall tax burden is low so our tax and transfer system is not very redistributive.
Justin Wolfers@JustinWolfers

If you only count the progressive taxes the U.S. levies, then the U.S. system is quite progressive. But if you also count regressive taxes (payroll taxes, sales taxes, etc), it's not very progressive.

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James Medlock
James Medlock@jdcmedlock·
The US has one of the most progressive tax codes on paper. But our tax and transfer system reduces inequality far less than countries with broader tax systems. Tax cuts can't help people who don't have an income, but a generous tax financed welfare state can.
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Jeff Bezos@JeffBezos

Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. It’s a small amount of the total tax revenue but very meaningful to people in this group.

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Chuck Marr
Chuck Marr@ChuckCBPP·
@Option3030Andy But you're missing that they are required to withdraw down the accounts specifically to pay the taxes. Whereas with stepped up basis the tax liability is erased and the wealthy heir can clean out the account the next day and pay no taxes.
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OptionAndy
OptionAndy@Option3030Andy·
@ChuckCBPP You are trying to have it both ways. You are talking about when rich people pass on accts and don't withdraw them. But you are making claims about every else being taxed after they withdraw the funds. It's the same "wealth" and "income" scam that you idiots run.
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Chuck Marr
Chuck Marr@ChuckCBPP·
This is likely people looking at specific years The policy question is income from unrealized capital gains - these can be massive sums which can go untaxed in a given year, over an entire life, and even if passed to heirs- compare to middle-class 401(k)s propublica.org/article/the-se…
Squawk Box@SquawkCNBC

"People sometimes say that I don't pay taxes. It's not true. I paid billions of dollars in taxes," says @JeffBezos. "That's not going to solve the problem. You could double the taxes I pay and it's not going to help that teacher in Queens."

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Keşfet

@RepRalphNorman @ChachaMarquis @mattyglesias @dylanmatt @kpomerleau @elonmusk @BarackObama @taylorswift13