The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In District of Columbia, 74 percent of the federal tax cuts would go to the richest 5 percent of residents, and 25 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect District of Columbia Residents’ Federal Taxes
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Florida Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Florida, 60 percent of the federal tax cuts would go to the richest 5 percent of residents, and 8 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Illinois Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Illinois, 51 percent of the federal tax cuts would go to the richest 5 percent of residents, and 15 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Iowa Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Iowa, 34 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Kentucky Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Kentucky, 43 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Louisiana Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Louisiana, 50 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Massachusetts Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Massachusetts, 56 percent of the federal tax cuts would go to the richest 5 percent of residents, and 17 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Missouri Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Missouri, 45 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Michigan Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Michigan, 49 percent of the federal tax cuts would go to the richest 5 percent of residents, and 10 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Maryland Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Maryland, 77 percent of the federal tax cuts would go to the richest 5 percent of residents, and 27 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Maine Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Maine, 37 percent of the federal tax cuts would go to the richest 5 percent of residents, and 11 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Indiana Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Indiana, 42 percent of the federal tax cuts would go to the richest 5 percent of residents, and 7 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Idaho Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Idaho, 43 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Delaware Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Delaware, 42 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect California Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In California, 39 percent of the federal tax cuts would go to the richest 5 percent of residents, and 20 percent of households would face a tax increase, once the bill is fully implemented.
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November 13, 2017 How the Revised Senate Tax Bill Would Affect Arizona Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Arizona, 48 percent of the federal tax cuts would go to the richest 5 percent of residents, and 12 percent of households would face a tax increase, once the bill is fully implemented.
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blog November 8, 2017 House Tax Plan Would Make Offshore Tax Avoidance Substantially Worse
The Sunday release of the Paradise Papers has once again brought the issue of offshore tax avoidance to the forefront of public discussion. The papers expose the complex structures that companies such as Apple and Nike have pursued in recent years to pay little to nothing in taxes on their offshore earnings.
Yet even as these revelations make headlines, House Republicans are moving forward with major tax legislation, the Tax Cuts and Jobs Act, that would reward the worst tax avoiders and make it even easier for multinational companies to avoid taxes.
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report November 5, 2017 American Corporations Tell IRS that 61 Percent of Their Offshore Profits Are in 10 Tax Havens
Recent revelations that a Bermuda law firm helped facilitate offshore tax avoidance has heightened awareness of the vast amount of income and wealth flowing into tax and secrecy havens worldwide. The countries through which this firm helped funnel global elites’ assets also act as tax havens for multinational corporations. Recently released data from the Internal Revenue Service show that U.S. corporations claim that 61 percent of their foreign subsidiaries’ pretax worldwide income is being earned in 10 tiny tax haven countries.
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news release November 5, 2017 Paradise Papers Underscore Why Lawmakers Should Focus on Offshore Tax Avoidance
Following is a statement by Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, regarding the release of the “Paradise Papers,” a series of documents from Appleby, a leading offshore law firm. The International Consortium of Investigative Journalists released the investigative report today.
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report November 5, 2017 Fact Sheet: Nike and Tax Avoidance
Nike earned more than $10 billion in U.S. profits from 2008 to 2015 but only paid 18.6 percent in U.S. federal taxes during this time. This is just over half of the official U.S. corporate tax rate of 35 percent.
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report November 5, 2017 Fact Sheet: Facebook and Tax Avoidance
Since Facebook became a public company, its annual revenues have increased by 250 percent from around $8 billion in 2013 to nearly $28 billion last year. In the same time period, the company’s before-tax profits shot up four-and-a-half fold to $12.5 billion. But in this time it has also managed to avoid billions of dollars in U.S. taxes.
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report November 5, 2017 Fact Sheet: Apple and Tax Avoidance
Apple is the most valuable public company of all time with a market value of more than $800 billion. Last year, it cleared $45.7 billion[iii] in profits after taxes, making it the most profitable company in the Fortune 500 for the third straight year.
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report November 3, 2017 9 Things You Should Know About the Tax Debate
A Chart Book on the U.S. Tax System
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blog October 30, 2017 The Manufacturing Deduction Is a Case Study in Tax Policy Gone Wrong
When you think of manufacturing, what comes to mind? According to the U.S. Congress, manufacturing may include things like the production of wrestling-rated films, assembling bouquets of flowers and even slicing cheesecake. These unusual definitions of manufacturing come from the domestic production activities deduction (better known as the manufacturing deduction), a tax break Congress created to encourage manufacturing in the United States.
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report October 26, 2017 The Domestic Production Activities Deduction: Costly, Complex and Ineffective
When the Domestic Production Activities Deduction (DPAD) became law in 2004, proponents described it as a way to help American companies manufacture in the United States and export products abroad. In recent years, the DPAD has grown into one of the largest corporate tax expenditures, with an estimated cost of more than $15 billion in 2016 and $174 billion over the next 10 years.