A $2,000 payment would give a 60 percent majority of Americans, those with annual incomes under $65,000, an average income boost of 11 percent, according to a reportreleased last week…
On the other hand, our federal tax code, even after the Bush-era and Trump-era tax changes, is rather progressive. It taxes the wealthy at much higher rates than the nonwealthy.…
In all, the bottom 60 percent of income earners — who made less than $65,000 in 2020 — “would see an average income increase of 11 percent by a $2,000…
If passed, the CASH Act — in combination with the latest round of $600 stimulus checks — would boost the incomes of the poorest 20% of Americans by an estimated…
There’s no income tax in Washington state, home to some of the world’s richest people: Amazon.com founder Jeff Bezos; his ex-wife, MacKenzie Scott; and Microsoft founder Bill Gates and former…
ncreasing economic payments to $2,000 from $600 as part of a coronavirus stimulus bill would have a “significant impact” on the households of lowest-income Americans, a report from the Institute…
But Democrats argue that the more-direct assistance to Americans is needed at a time when many are struggling to cover basic expenses. According to an analysis released Thursday by the…
Now, some of Mr. Biden’s ideas are much more likely to become law, said Steve Wamhoff of the progressive Institute on Taxation and Economic Policy, who said that the president-elect’s…
A study by the Institute on Taxation and Economic Policy reported on the first year following the passage of the GOP tax cuts and found that 91 of the Fortune…
There’s no income tax in Washington state, home to some of the world’s richest people: Amazon.com founder Jeff Bezos; his ex-wife, MacKenzie Scott; and Microsoft founder Bill Gates and former…
The spate of proposals could mean higher tax bills for tech titans Amazon, Apple, Facebook, Google, Microsoft, and Netflix, in addition to the millions of consumers using their services. Agencies…
Musk has another good reason for moving to Texas: taxes. His 170 million shares of Tesla are worth $110 billion. And he could pay billions of dollars if he were…
Following is an excerpt of an opinion piece by Steve Wamhoff published in Newsweek: During his campaign, President-elect Joe Biden talked about raising taxes on rich people more than any…
Meg Wiehe, deputy executive director of the Institute on Taxation and Economic Policy, said Wyoming at least was dealing with the painful reality. “The bigger kind of cuts that will…
Aside from concerns that Amazon is anti-competitive, the U.S. government is investigating Amazon for labor violations. Its workers around the world are staging protests, and the company has retaliated by…
Past research has shown how some of the largest chemical producers such as the German giant BASF or the American company DuPont have used sophisticated tax planning strategies to avoid…
Key to Yellen’s ability to help Biden implement his agenda on taxes will be the relationships she develops with lawmakers. Steve Wamhoff, director of federal tax policy at the left-leaning…
According to the Institute on Taxation and Economic Policy, as many as half of all workers and two-thirds of children in the U.S. would benefit from the LIFT the Middle…
“President-elect Joe Biden won over 78 million votes, more than any presidential candidate has ever received, while unabashedly vowing to raise taxes on the wealthiest individuals and on corporations. Progressive tax reform should…
Carl Davis, research director at the Institute on Taxation and Economic Policy, studies states’ cannabis tax structures and he said one problem is that most states’ excise tax is based…
If fully implemented, Biden’s tax plan would be a direct tax hike for just the top 1.9% of the U.S. population, according to research from the Institute on Taxation and…
This statistic on 91 companies comes via the left-leaning Institute on Taxation and Economic Policy (ITEP). In a 2019 report, ITEP concluded that 91 profitable companies in the Fortune 500…
Biden’s plan would generate over $289 billion in tax revenue, according to research from the Institute on Taxation and Economic Policy (ITEP). About 1.9% of the U.S. population would see…
California is at the top of that list, according to the Institute on Taxation and Economic Policy. But there is room for improvement. For the last four decades, property taxation…
A report earlier this month by the Institute on Taxation and Economic Policy (ITEP), a nonpartisan think tank based in Washington, D.C., noted: “Just 1.9 percent of taxpayers would see…
