September 5, 2017
Who benefits and who loses under the Trump tax plan? An analysis by the Institute on Taxation and Economic Policy (ITEP) estimates that Arkansas would fare worse under the plan compared to other states. Relative to our share of the U.S. population, we would be one of the 12 states receiving the lowest share of the total Trump tax cut.
September 1, 2017
In April the Trump administration released a sketchy outline of their half-baked ideas for tax changes. An analysis by the Washington, D.C.-based Institute for Taxation and Economic Policy (ITEP) of that back-of-the-envelope ‘plan’ found that nearly half (48 percent) of Trump’s proposed tax cuts would go to millionaires. Millionaires make up only 0.5 percent of the U.S. population.
September 1, 2017
Fortune 500 companies now hold about $2.6 trillion in offshore cash, which leads to billions in lost federal taxes, according to the Institute on Taxation and Economic Policy. A set of earlier tax reform proposals from Mr. Trump would likely most benefit the richest 1 percent of Americans, the group added. “Assuring working people that […]
September 1, 2017
U.S. companies with business overseas do keep some profits in offshore accounts, where it isn’t subject to U.S. corporate taxes until it is repatriated to this country. The profits are declared indefinitely, or permanently, reinvested, which means the companies say they will reinvest the money abroad. If a U.S. company does bring the money back to the […]
September 1, 2017
House Speaker Paul Ryan’s visit to the Boeing plant in Everett last week contained plenty of ideology, politicking, and lobbying for Republican efforts to reconfigure the U.S. tax code. But it was woefully short on facts — a situation that should play a role in the upcoming congressional discussion about how much American corporations pay […]