whiten-jon – Page 42

media mention March 3, 2020
Connecticut Mirror: After one alarming tax fairness study, CT is wary of launching a second

Gasoline distributors shift the entire cost of Connecticut’s 8.1% wholesale fuel tax onto local filling stations, which then pass it all onto motorists — who also pay a 25-cents-per-gallon retail…
media mention February 28, 2020
MSNBC: Team Trump wants even more corporate tax breaks in a second term

For another, corporations clearly don’t need a lower rate since so many of them aren’t even paying taxes at the current rate. Late last year, the Institute on Taxation and…
media mention February 25, 2020
The Chicago Tribune: Recreational marijuana sales in Illinois generated more than $10 million in tax revenue in January

Many dispensaries continue to sell recreational marijuana only on certain days of the week or for restricted hours. Though greater volumes of product continue to filter into the market from…
media mention February 25, 2020
The Hill: Financial trade tax gains traction with 2020 Democrats

Democratic presidential candidates across the ideological spectrum are calling for taxes on financial trades, breathing new life into an idea that for many years was promoted primarily in progressive circles.…
media mention February 24, 2020
Anchorage Press: The Pocketbook Reasons Most Alaskans Should Prefer an Income Tax to a Statewide Sales Tax

An analysis in 2017 by the Institute on Taxation and Economic Policy (ITEP) produced similar results. All people in households who make less than $73,000 per year—and some in higher-earning…
media mention February 20, 2020
MarketWatch: Jeff Bezos spent more on this house in Beverly Hills than Amazon has paid so far in federal corporate income tax for 2019

Amazon listed a “summary” of its 2019 U.S. taxes as including $2.4 billion in other federal taxes, including payroll taxes and customs duties, and more than $1.6 billion in state…
media mention February 20, 2020
Washington Post: White House advisers privately float minimum tax on corporations amid blowback over 2017 GOP law

Opponents of the tax law such as presidential candidate Sen. Bernie Sanders (I-Vt.) have assailed the GOP and multibillion-dollar corporations for allegedly paying $0 in federal taxes under the new…
media mention February 20, 2020
Minneapolis Star-Tribune: Tax reform may be more lucrative than advertised for corporations

Many of Minnesota’s major corporations paid lower tax rates in 2018 than new, dramatically lower corporate tax rates. That was among the findings in an analysis of government filings by…
media mention February 20, 2020
Factcheck.org: FactChecking the Las Vegas Democratic Debate

There were indeed reports last year, prompted by the findings of the left-leaning Institute on Taxation and Economic Policy, indicating that the two companies and others paid no federal income taxes in 2018. The…
news release February 19, 2020
White House Advisors’ Push for Corporate ‘Minimum Tax’ Will Not Fix the Tax Law

A White House proposal to follow Trump’s massive corporate tax cuts with a minimum corporate tax would be like shooting a person on Fifth Avenue and then offering them a band aid.
blog February 12, 2020
2021 Trump Budget Continues 40-Year Trickle-Down Economic Agenda

The 2017 Tax Cuts and Jobs Act may as well have been called the Promise for Austerity Later Act.
media mention February 12, 2020
Yahoo! Finance: In Search of the ‘Disappearing Corporate Income Tax’

Those losses, driven by generous rule-writing and interpretations of the 2017 tax law by the U.S. Treasury, are so substantial that they were deemed “tax cuts 2.0” by the liberal-leaning…
blog February 12, 2020
Hearing Witness: Trump Administration Giving Tax Breaks Not Allowed by Law

The Treasury Department, tasked with issuing regulations to implement the hastily drafted Trump-GOP tax law, is concocting new tax breaks that are not provided in the law. This is the short version of what we learned while watching Tuesday’s House Ways and Means Committee hearing on “The Disappearing Corporate Income Tax.”
blog February 11, 2020
Why Today’s Congressional Hearing on “The Disappearing Corporate Income Tax” Is Imperative

The United States is collecting a historically low level of tax revenue from corporations. In 2018, corporate tax revenue as a share of gross domestic product (the nation’s economic output)…
blog February 10, 2020
President Trump’s 2021 Budget: Promises Made, Promises Broken

President Trump has kept only one of his promises–his pledge to lower taxes for corporations and their investors.

The budget plan he released today again breaks his promise to reject cuts in Medicaid that would affect millions of people. His budget once again fails to eliminate the deficit, much the less the national debt, during his presidency as he promised. It cuts trillions from safety net programs and student aid programs despite his pledge to stand for forgotten Americans.
news release February 10, 2020
“Budget for America’s Future” Cuts Funding for Essentials

The budget proposal reinforces the Trump Administration’s commitment to maintaining trillions in tax cuts for the rich and corporations, even if it requires cutting support for food assistance, cutting funding support for education, harming our environment or taking away health care from millions of Americans.
media mention February 10, 2020
Maine Beacon: Report: Maine losing $52 million annually to corporations using offshore tax havens

The amount of money U.S. companies move through tax havens is considerable. Fortune 500 companies made $2.6 trillion in offshore profits in 2016, according to the Institute on Taxation and…
media mention February 7, 2020
Politifact: Fact-checking the Democratic claim that Amazon doesn’t pay taxes

Short answer: Amazon’s tax returns are private, so we don’t know for sure what Amazon pays in federal taxes. But Amazon’s estimates on its annual 10-K filings with the U.S.…
media mention February 7, 2020
CBSNews.com: Amazon paid a tax rate of just 1.2% last year, versus 14% for average Americans

Amazon isn’t alone, of course. Hundreds of U.S. companies now pay tax rates that are lower than those many Americans pay. A study late last year from the liberal Institute…
media mention February 7, 2020
Yahoo! Finance: Amazon paid a 1.2% tax rate on $13,285,000,000 in profit for 2019

Matthew Gardner, senior fellow for the Institute on Taxation and Economic Policy (ITEP), who analyzes corporations and their tax avoidance, says there’s “no meaningful” connection between Amazon and many of…
media mention February 7, 2020
The Sun: AMAZON’S DIME Amazon paid just ONE per cent tax after making $13BILLION profit leaving taxpayers with jus $162million

One expert found ‘no meaningful’ link between Amazon and the tax payments in the SEC filing. Matthew Gardner, a senior fellow for the Institute on Taxation and Economic Policy, wrote:…
media mention February 7, 2020
Fox Business: Amazon paid tax rate of 1.2% on $13B in profits last year

“This means that instead of avoiding 100 percent of its income tax liability, Amazon appears to have avoided only 94 percent of its tax bill last year,” Matthew Gardner, senior fellow…
media mention February 7, 2020
The Daily Mail: Amazon paid only $162M in US federal taxes in 2019 after making $13BILLION in profit – an effective rate of just one per cent

Taxes collected on behalf of the government for payroll and from online sales from third-party vendors don’t count as taxes paid. The expert wrote in a post made for the Institute…
media mention February 6, 2020
Politico: Cloudy Forecast for Tax Law Fixes

DECOUPLING DEDUCTIONS: Two-thirds of states with property tax deductions set a $10,000 ceiling along the lines of the TCJA’s cap on federal deductions for state and local taxes, according to…
media mention February 6, 2020
International Business Times: Amazon Only Paid 1.2% Taxes In 2019 Despite $13 Billion Profit

Yahoo Finance, however, pointed that with the exception of the federal income tax, the listed amounts aren’t actually taxes Amazon paid to the federal government. There’s “no meaningful” connection between Amazon…

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