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media mention April 11, 2019 KALW: Who Pays Taxes, and Where Does It Go?
On this edition of Your Call, we’ll ask who bears what share of the tax burden and where their money goes. Donald Trump’s 2017 tax law gave most of its… -
media mention April 11, 2019 AP: Bezos, Hunting for Big Wins, Is Comfortable with Big Fails
A top spokesman at the world’s largest retailer was also quick to mock on Twitter Amazon’s challenge with its own jab on the issue of taxes. “Hey retail competitors out… -
blog April 10, 2019 The Working Families Tax Relief Act Would Boost Incomes and Economic Security for Workers and Children
Sens. Sherrod Brown, Michael Bennet, Richard Durbin, and Ron Wyden (along with the backing of most of the Democratic caucus in the Senate) today rolled out a new proposal to expand the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). Called the Working Families Tax Relief Act (WFTRA), the proposal would provide a substantial benefit, especially to low-income working families.
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media mention April 10, 2019 Politifact: Kamala Harris Calls Her LIFT Plan ‘The Most Significant Middle-Class Tax Cut in Generations.’ Is It?
Meg Wiehe, deputy director of the Institute on Taxation and Economic Policy, considered a left-of-center think tank, said Harris’ descriptions are “a fair and an accurate portrayal.” Wiehe said it’s… -
media mention April 10, 2019 The Washington Post: Health Care Is Shockingly Expensive. Why Can’t You Deduct It?
My proposal won’t add much to the $22 trillion national debt, relatively speaking. According to an AARP fact sheet, the Institute on Taxation and Economic Policy estimated that lowering the… -
media mention April 10, 2019 Crosscut: I’m Rich, I Should Pay More Taxes in Washington
But if you’re a working family, Washington is a different story. That’s because in Washington, our lowest-income families pay taxes that amount to a six times greater share of their… -
media mention April 9, 2019 The DC Line: By offsetting federal tax cuts locally, we can improve the quality of life for all DC residents
Misha Hill of the Institute on Taxation and Economic Policy (ITEP) has estimated that the top 20 percent income bracket of DC residents will receive almost $700 million in federal… -
media mention April 9, 2019 Fast Company: Soak the Rich but How?
“Right now, the personal income tax has all kinds of special breaks,” says Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy, who… -
media mention April 6, 2019 Crain’s Detroit: Legal Pot v. Black Market
“When you have so many communities opting out, you could have less quantity being sold in the legal market,” said Carl Davis, research director for Washington D.C.-based Institute on Taxation… -
media mention April 4, 2019 CNBC: Why Amazon Paid No Federal Income Tax
In this CNBC video, Matthew Gardner, ITEP senior fellow, outlines how Amazon got away with paying no federal taxes for the last two years. https://www.cnbc.com/2019/04/03/why-amazon-paid-no-federal-income-tax.html -
media mention April 3, 2019 New York Times: A Man with a Plan for Inequality
Their largest holdings often include stocks. Which means that the lower tax rate on capital gains, combined with the deferral of taxing them, has enormous financial consequences, as Steve Wamhoff,… -
media mention April 3, 2019 CNBC: What the Wyden-Proposed Tax on Unrealized Capital Gains Might mean for You
Marking an asset to market means that you’re treating it as if you’ve sold it for fair market value at the end of the year, accounting for the gain or… -
media mention April 2, 2019 Bloomberg: Tax-the-Rich Fervor Builds in Statehouses After Trump’s Big Cut
The tax-the-rich proposals pending in states are “a reflection of a broader national trend towards recognizing what voters have felt for a long time — that high income individuals and… -
media mention April 2, 2019 Bloomberg: Key Democrat Revives Plan to Make Capital Gains Tax Due Annually
And Steve Wamhoff, the director of federal tax policy at the left-leaning Institute on Taxation and Economic Policy, said the bill “would certainly slow down the ability of billionaires to… -
media mention April 1, 2019 The Columbian: Do We Care that the Tax System Is Unfair?
While our state is a bastion of progressive politics and liberal activism (for better or worse), it also has the most regressive tax system in the country. In other words,… -
media mention March 28, 2019 The Daily Mail: The States Where Poor Pay Higher Taxes than the Rich
Poor Americans pay out a higher share of their income toward taxes than their wealthy counterparts in 45 states, according to a new report. However, rich Americans typically pay a… -
media mention March 26, 2019 Yahoo! Finance: What Are the World’s Best Tax Havens
Media reports on the Paradise Papers have subsided, but no one has forgotten the collection of 13.4 million leaked financial files taken from a combination of offshore service providers and… -
media mention March 22, 2019 NBC News: Factory Workers at GM See Layoffs, not Benefits, after Tax Cuts
Matt Gardner, a senior fellow with the Institute for Taxation and Economic Policy, a nonpartisan, liberal think tank, said GM’s announcement confirmed economists’ arguments regarding the tax cuts. “Corporations will… -
media mention March 18, 2019 The American Prospect: New Legislation Would Rein in Corporate Offshoring
One clue, at least on the international side, might be found in a report issued last year by the Institute on Taxation and Economic Policy (ITEP). In “Understanding and Fixing… -
media mention March 12, 2019 GQ: Local and State Taxes Are Making the Wealthy More Rich Now Too
According to a new report by the progressive think tank Institute on Taxation and Economic Policy (ITEP), as relayed in the Washington Post, state and local governments that are heavily… -
media mention March 12, 2019 New York Daily News: Four Ways to Make New York Taxes More Fair
But Cuomo hasn’t talked about the benefits of the Trump tax law for ultra-millionaires — the very richest New Yorkers, mainly in Manhattan. Trump and his GOP minions cut taxes… -
media mention March 12, 2019 KUOW: Why Washington Ranks as the Worst State for Poor Residents
Washington ranks as the worst state for low-income earners to live, and it’s notably worse than any other state. The Institute on Taxation and Economic Policy (ITEP) places Washington, Texas… -
news release March 11, 2019 White House Budget Fails to Acknowledge Role of Tax Cuts in the Deficit while Calling for Draconian Spending Cuts
As expected, the president’s budget would enshrine top-heavy tax cuts into law and finance them by slashing domestic programs. It is time for a course correction.
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media mention March 11, 2019 Crains Chicago: It’s Time to Tax Retirement Income, Illinois
On federal returns, income tax is paid on retirement resources that have not been previously taxed—defined-benefit pensions, 401(k)s, and traditional individual retirement accounts. Higher-income seniors also pay taxes on Social… -
media mention March 10, 2019 Philadelphia Inquirer: Why It’s Not as Simple as ‘New Jersey Is a High-Tax State’ or ‘Texas Is a Low-Tax State’
A recent study by the Institute on Taxation and Economic Policy analyzed the burdens of state and local taxes across the nation. The results were eye opening, though hardly surprising.…