November 24, 2014
With the work permits promised in Obama’s orders, those workers could add an estimated $43 million in tax revenues because their wages would increase and more of them would file income tax returns, according to the Institute on Taxation and Economic Policy. Those workers already pay more than $152 million in state and local […]
November 20, 2014
Re “Movie shows MJC’s bias “ (Letters, Nov. 16): The recent letter complaining about illegal immigrants stated that they do not pay income taxes. This is not correct. A study by the non-profit, non-partisan Institute on Taxation and Economic Policy found that: “Undocumented immigrants currently pay $1.2 billion in personal income taxes, $1.2 billion in […]
November 20, 2014
TEXAS Immigrants comprise 21 percent of Texas’ labor force, according to the 2011 U.S. Census Bureau. If all illegal immigrants were removed from Texas, the state would lose $69.3 billion in economic activity, $30.8 billion in gross state product and roughly 403,174 jobs, according to a 2008 report by the Perryman Group. If illegal immigrants […]
November 20, 2014
Everybody knows Arizona is a low tax state. Our legislature has been cutting rates for decades, and as a result, according to the Institute on Taxation and Economic Policy, we’re number 35 in overall state taxes; only 15 states have rates lower than ours. Not so if you’re poor, however. If you make $27,000 or […]
November 17, 2014
The Institute on Taxation and Economic Policy, a liberal-leaning think tank, last spring estimated that if the Hall tax were eliminated, Tennessee’s wealthiest residents with annual incomes of $970,000 would receive “a whopping 63 percent of the benefits of the tax cut.” Another 23 percent would end up in federal coffers because those who paid […]
November 17, 2014
But if the rich feel slighted, consider this: A study last year by the Institute on Taxation and Economic Policy found that lower- and middle-income residents pay a higher percentage of their wages to the income tax than do the wealthy. As if the panel’s charge wasn’t broad enough, it has one more thing to […]
November 6, 2014
Arguments aside, some, including Matt Gardner, executive director of the Institute on Taxation and Economic Policy (ITEP), said the law including sports franchises in the Goodwill tax write-off was a bad one. In a blog post, Gardner said, “It’s bad enough that the goodwill tax rule allows companies to deduct costs they may never incur […]
November 6, 2014
And Massachusetts has plenty of company. The federal gas tax of 18.4 cents has been in place since 1993. Twenty-four states haven’t touched their gas tax rates in more than a decade, according to left-leaning Institute on Taxation and Economic Policy. For 16 of those states, the last change was more than 20 years ago. […]
November 6, 2014
States have varying gas tax rate structures, which can be boiled down to one of two general forms: a fixed-rate tax or a variable-rate tax. Flat-rate gas taxes, like those in now Massachusetts and New Hampshire, collect a certain number of cents per gallon of gas purchased. Meanwhile, variable-rate taxes are calculated one of several […]
November 6, 2014
Unauthorized migrants pay sales taxes, property taxes, whether they rent or own, ‘use’ taxes, and, in some cases, even income taxes, whether state, local, or federal, including social security and medicare taxes. In July 2013, the non-partisan Institute on Taxation and Economic Policy ( ITEP ) issued a report that statistically demonstrated the tax contributions […]
November 3, 2014
According to the institute on Taxation and Economic Policy, the wealthiest 1 percent realized an average income tax cut of $2,518, while those who lost a big chunk of their income realized a tax cut of $197 to $323 per year. It’s the same story with property owners. Most of the savings went to large […]
November 3, 2014
Six of the nine state states without a state income tax – Tennessee, Texas, Florida, Washington, Alaska and Nevada – have had higher than average annual unemployment rates over the last decade, according to the Institute on Taxation and Economic Policy. Five of the nine – Tennessee, Florida, New Hampshire, Alaska and Nevada – are […]
November 3, 2014
Massachusetts voters will get to decide whether to repeal a provision that automatically raises the state gasoline tax with inflation. According to the nonpartisanInstitute on Taxation and Economic Policy, 14 states have a “variable rate” gas tax, while 32 states have fixed taxes (the others didn’t supply data). Read more
November 3, 2014
Not all tax experts agree that The Tax Foundation’s description of what makes a good business tax climate fairly reflects the attractiveness of a state for companies. Speaking to 24/7 Wall St., Matthew Gardener, executive director of the Institute on Taxation and Economic Policy, described fiscal policy as a two-sided coin. For fiscal policy, “the […]
October 28, 2014
The nonpartisan Institute on Taxation and Economic Policy estimates that the new North Carolina tax plan will cost the state over $1 billion this fiscal year compared to the past one. “That’s about equivalent to the entire community college budget,” said Tazra Mitchell, a budget analyst at the Justice Center. “So that’s not a small […]
October 28, 2014
And the numbers aren’t political spin. The current shortfall figures come from the Fiscal Research Division of the General Assembly. The estimate of how large the shortfall could become is from the nonpartisan Institute on Taxation and Economic Policy, using the latest state taxpayer data. The Institute says the cost of the Robin-Hood-in-reverse tax cut […]
October 28, 2014
The Institute on Taxation and Economic Policy (ITEP), a nonprofit Washington, D.C., research group with a model of the tax system, reviewed the effects of income tax repeal. It found that if the tax were repealed and just half of it was replaced with a higher sales tax, the top 1 percent of Ohio residents, who […]
October 28, 2014
Matt Gardner with the Institute on Taxation and Economic Policy says property taxes nationwide are increasingly limited to real property. But he says for equipment that has significant value to a business‘s profit-making ability, it makes sense to tax that equipment. “It’s a rough proxy for the benefits you derive from government services,” says Gardner. […]
October 16, 2014
Meg Wiehe, state tax policy director for the Institute on Taxation and Economic Policy, said that, based only on the income tax portion of the changes, about 35% of North Carolinians would see a tax increase, another 16% would see no change, and roughly 49% would get a tax cut. Once you factor in the […]
October 10, 2014
In an analysis of how the Indiana cuts are distributed by income groups, the liberal Institute on Taxation and Economic Policy found that the bottom 20 percent are getting an average cut of $10, those in the middle are getting $56, while the top 1 percent get $1,181. Read more
October 10, 2014
Further details of these types of corporate shenanigans can be found in the paper “Citizens for Tax Justice and the Institute on Taxation and Economic Policy,” published in February 2014. Read more
October 10, 2014
All states impose some kind of gas tax that generally supports transportation infrastructure, but the taxes and fees that drivers actually pay make up a smaller share of total highway funding than at any point since the Interstate Highway System was created in 1957, according to a May 2014 policy brief by the Institute on […]
October 10, 2014
Meg Wiehe, state tax policy director for the Institute on Taxation and Economic Policy, said that, based only on the income tax portion of the changes, about 35 percent of North Carolinians would see a tax increase, another 16 percent would see no change, and roughly 49 percent would get a tax cut. Once […]
October 10, 2014
Matthew Gardner, executive director of the left-leaning Institute on Taxation and Economic Policy, notes that many states in recent years have gone down the same road as Massachusetts by linking fuel taxes to inflation or prices. “It’s been a very welcome trend in the last few years toward indexing the gas tax for some measure […]
October 7, 2014
The liberal Wisconsin Budget Project has released an analysis by the Institute on Taxation and Economic Policy (ITEP) showing how the tax burden would change for different income groups. Under one scenario highlighted in the study as being the most balanced, ITEP projects the top 1 percent of earners would see a 0.6 percent reduction […]