Tax Policy and the 2020 Presidential Election

TPC’s research, analysis, and data tools help make sense of the issues

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Blog post

Surprise: Biden and Trump Both Back A Modest Middle-Income Tax Cut

In one key respect, their plans appear surprisingly similar.
Issues: Business, Families and workers, Income and wealth inequality, Investment income
Candidates: Donald Trump, Joe Biden

Analysis

An Updated Analysis of Former Vice President Biden's Tax Proposals

Biden would increase income and payroll taxes on high-income individuals and raise income taxes on corporations. On net, his proposals would increase federal revenues by $2.4 trillion over the next decade.
Issues: Business, COVID-19 pandemic, Families and workers, Housing, Income and wealth inequality, Investment income, Restoring fiscal stability, Retirement and Social Security
Candidates: Joe Biden

Blog post

Would Joe Biden Raise Taxes on Low- and Moderate-Income Families? It Depends on What You Mean by Taxes

Is Democratic presidential candidate Joe Biden proposing to raise taxes on low- and middle-income households? He emphatically says no. President Trump and his allies say...
Issues: Business, Investment income
Candidates: Joe Biden

Blog post

Biden’s Tax Hikes May Be A Tough Sell In 2021. What If He Paired Them With Big Refundable Tax Credits?

The real question for Biden is how much of his ambitious tax plan could Congress realistically pass next year. 
Issues: Business, COVID-19 pandemic, Environment and energy, Health and safety, Income and wealth inequality, Investment income, Restoring fiscal stability, Retirement and Social Security
Candidates: Joe Biden

Blog post

The COVID-19 Crisis Reveals The President’s Misplaced Budget Priorities

Presidential Budgets reveal much about the priorities of an administration. President Trump’s fiscal year 2021 budget, released in early 2020, proposes almost no additional resources...
Issues: COVID-19 pandemic, Families and workers, Health and safety, Restoring fiscal stability, Retirement and Social Security
Candidates: Donald Trump

Blog post

How Will We Pay For All The Coronavirus Relief?

Perhaps it is a good time to start thinking about how the federal government is going to repay this new debt.
Issues: Income and wealth inequality
Candidates: Joe Biden

Blog post

Sanders Proposes a $23 Trillion Tax Increase, Mostly On High-Income Households And Businesses

Excluding tax hikes to fund Medicare for All, Sanders would boost federal revenue by about 3.6 percent of gross domestic product.
Issues: Business, Income and wealth inequality, Investment income, Health and safety
Candidates: Bernie Sanders

Analysis

An Analysis of Former Vice President Biden’s Tax Proposals

Biden would increase federal revenues by $4.0 trillion over the next decade.
Issues: Income and wealth inequality
Candidates: Joe Biden

Blog post

What Do The Sanders-Biden Fights Over Protecting Social Security Mean?

One verb, multiple meanings
Issues: Retirement and Social Security
Candidates: Joe Biden, Bernie Sanders, Donald Trump

Blog post

Inequality Is A Big And Growing Issue, But A Wealth Tax May Not Be The Solution

Wealth inequality in the US is a big and growing problem. But what should we do about it?
Issues: Income and wealth inequality
Candidates: Bernie Sanders, Elizabeth Warren

Blog post

Most 2020 Candidates Say They’d Fight Climate Change, But Leaders Don’t Back A Carbon Tax

Most presidential candidates acknowledge the urgency of climate change. Few would use tax policy to its full potential.
Issues: Environment and energy
Candidates: Joe Biden, Cory Booker, Pete Buttigieg, Amy Klobuchar, Bernie Sanders, Donald Trump, Elizabeth Warren, Bill Weld, Andrew Yang, John Delaney

Blog post

Can A Wealth Tax Raise The Revenue Its Sponsors Hope?

The wealth tax is having a moment.
Issues: Income and wealth inequality
Candidates: Bernie Sanders, Elizabeth Warren

Blog post

How Should We Tax The Rich

A cheat sheet on some of the leading ideas.
Issues: Investment income
Candidates: Bernie Sanders, Elizabeth Warren

Blog post

Rethinking The Presidential Election Campaign Fund

When you filed your tax return last spring, did you check off the "Presidential Election Campaign" box on the Form 1040? Didn’t think so.
Issues: Health and safety
Candidates: Michael Bennet, Joe Biden, Cory Booker, Pete Buttigieg, Julián Castro, John Delaney, Tulsi Gabbard, Kamala Harris, Amy Klobuchar, Bernie Sanders, Elizabeth Warren, Marianne Williamson, Andrew Yang

Blog post

Four Ways To Tell When A Tax Proposal Is Serious

Some ideas are more substantive than others.
Issues: Restoring fiscal stability
Candidates: Elizabeth Warren

Analysis

Permanently Extending the Tax Cuts and Jobs Act, President Trump Would Cut Taxes by $1.1 Trillion through 2030

Nearly all the reductions would occur after 2025, and the extension would reduce federal revenues by another $3 trillion from 2031 through 2040.
Issues: Business, COVID-19 pandemic, Income and wealth inequality, Investment income, Restoring fiscal stability
Candidates: Donald Trump

Blog post

A Close Look at Joe Biden’s Social Security Proposals

We recently compared Social Security proposals advanced by Democratic presidential nominee Joe Biden and four of his primary rivals.
Issues: Retirement and Social Security
Candidates: Joe Biden

Blog post

Donald Trump’s Bullet Point Tax Agenda

President Trump is formally kicking off his reelection campaign with a couple of pages of bullet points. It makes for a thin tax policy agenda.
Issues: Business, Families and workers, Investment income
Candidates: Donald Trump

Blog post

Trump The Disrupter Takes Dead Aim At Social Security

Throughout the 3 ½ years of his presidency, Donald Trump has disrupted nearly every major institution of government, save one.
Issues: Retirement and Social Security, Health and safety
Candidates: Donald Trump

Blog post

Should Wealth Taxes Pay For Coronavirus Relief And Recovery?

I look forward to the day when the economy is strong enough that we can worry about the gigantic debt left behind by federal relief and recovery efforts.
Issues: COVID-19 pandemic, Health and safety, Income and wealth inequality, Restoring fiscal stability
Candidates: Bernie Sanders, Elizabeth Warren

Analysis

An Analysis of Senator Sanders's Tax Proposals

Sanders proposes a $23 trillion tax increase, mostly on high-income households and businesses.
Issues: Business, Health and safety, Income and wealth inequality, Investment income
Candidates: Bernie Sanders

Blog post

Biden Would Raise Taxes by $4 Trillion Over 10 Years, Mostly on The Highest-Income Households

Former Vice President Joe Biden would raise taxes by nearly $4 trillion over the next decade, about 1.5 percent of gross domestic product.
Issues: Business, Income and wealth inequality
Candidates: Joe Biden

Blog post

How the Tax Policy Center Analyzes Presidential Candidates’ Tax Plans

The process behind the numbers we present

Blog post

“Don’t Tax Me, Don’t Tax Thee, Tax That Person Who’s Richer Than… We.”

Who counts as rich?
Issues: Income and wealth inequality, Investment income
Candidates: Elizabeth Warren, Bernie Sanders

Blog post

Democrats In Love With Big Tax Hikes Might Do Well To Remember Walter Mondale

When was the last time a presidential candidate promised to raise taxes?
Issues: Restoring fiscal stability, Income and wealth inequality
Candidates: Joe Biden, Bernie Sanders, Elizabeth Warren

Blog post

Don't Try To Mark To Market Capital Gains. Tax Unrealized Gains At Death Instead

Wealth taxation by other means
Issues: Income and wealth inequality
Candidates: Elizabeth Warren

Publication

Should Wealth be Taxed?

The what, the why, and three options for a wealth tax.
Issues: Income and wealth inequality, Investment income
Candidates: Elizabeth Warren, Bernie Sanders

Blog post

Warren’s Wealth Tax Revenue May Not Meet Expectations

It's not exactly a "2-cent" tax.
Issues: Income and wealth inequality
Candidates: Elizabeth Warren

Blog post

How Warren’s Promises May Exceed Her Ability To Pay, And Teach Voters An Important Lesson

Sen. Elizabeth Warren has proposed a long list of detailed, ambitious, and very expensive campaign ideas.
Issues: Income and wealth inequality, Health and safety
Candidates: Elizabeth Warren

Blog post

What If We Could Register To Vote When We Filed Our Tax Returns?

This experiment doubled the voter registration rate.
Issues: Income and wealth inequality