ITEP's Research Priorities
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media mention February 7, 2019 The Daily Mail: Netflix Paid NOTHING in Federal or State Taxes in 2018
Netflix didn’t pay a cent in state or federal income taxes last year, despite posting its largest-ever U.S. profit in 2018 of $845million, according to a new report. In addition,… -
media mention February 6, 2019 Montana Public Radio: Lawmakers Hear Massive Proposal For Statewide Sales Tax
Another D.C. based think tank, the Institute on Taxation and Economic Policy, puts Montana’s current tax system among their top ten most equitable systems in the country, in part because… -
news release February 5, 2019 New Report Outlines Seven Progressive Revenue-Raising Options
ITEP today released a report that charts a path for Congress to enact progressive, revenue-raising tax policies that would target high-income households and reverse the damage from TCJA and prior rounds of tax cuts that disproportionately benefited the well-off.
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blog February 5, 2019 Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Taxes
The popular video streaming service Netflix posted its largest-ever U.S. profit in 2018—$845 million—on which it didn’t pay a dime in federal or state income taxes. In fact, the company reported a $22 million federal income tax rebate.
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media mention February 5, 2019 Arkansas Democrat Gazette: Arkansas Senate Panel Fives Fast Nod to Governor’s Tax-cut Plan
While the finance department projected the governor’s tax will eventually reduce tax revenue by $97 million a year after it’s fully implemented, Lisa Gee, a senior policy analyst for the… -
media mention February 5, 2019 Bloomberg Tax: Economic Policy Group Proposes Slew of Progressive Tax Policies
The Institute on Taxation and Economic Policy in a new report detailed several potential progressive tax policy proposals—including a revamp of capital gains taxation that would pull in nearly $2.5… -
media mention February 5, 2019 Washington Post: Live Commentary on Trump’s SOTU
E.J. DIONNE JR., 9:27 p.m.: “A massive tax cut for working families.” Really? “If you look at the richest 1 percent, they’re getting more than the bottom 60 percent of… -
media mention February 4, 2019 City Lab: The Airbnb Effect: It’s Not Just Rising Home Prices
And cities with less stringent Airbnb regulations might also be losing out on a lot of tax revenue. Traditional lodging entities (when combining city, state, and county taxes), are taxed… -
blog January 30, 2019 Why We Should Talk about Progressive Taxes Despite Billionaires’ Objections
It was the tone-deaf remark heard ‘round the world. Last week on CNBC’s Squawk Box, Commerce Secretary Wilbur Ross suggested that furloughed government employees who hadn’t been paid in a… -
media mention January 29, 2019 Washington Post: Warren’s Push for a Wealth Tax Could Be a Game Changer
Many on the right are already lashing out at Warren’s proposal. (On Fox News, it was preposterously likened to Venezuelan socialism.) Others have argued that it would be unconstitutional, a… -
media mention January 28, 2019 The Hill: Warren Stakes out Ground with Wealth Tax Proposal
Steve Wamhoff, director of tax policy at the Institute on Taxation and Economic Policy, said middle-income Americans are essentially already taxed on their wealth because most of it is in… -
media mention January 28, 2019 Arizona Republic: Fact Check on Immigration
“It sounds extraordinarily high to me,” Meg Wiehe, deputy director at the nonpartisan Institute on Taxation and Economic Policy told NBC. Read more -
media mention January 28, 2019 Chicago Sun-Times: 47th Ward Candidate for Alderman
We need more progressive revenue sources to help address our pension obligations. Our state’s combination of a flat income tax, high sales taxes, and heavy local reliance on property taxes… -
media mention January 25, 2019 Bloomberg: Warren’s Tax Proposal Aims at Assets of Wealthiest Americans
Her plan would do more to relieve inequality than New York Democratic Representative Alexandria Ocasio-Cortez’s idea to raise the top income tax rate to 70 percent, according to Steve Wamhoff,… -
media mention January 25, 2019 Washington Post: Elizabeth Warren to Propose Wealth Tax
Estimates of how much money can be raised by taxing the very rich vary dramatically. The Institute on Taxation and Economic Policy, a left-leaning think tank, published a report on… -
media mention January 24, 2019 Wall Street Journal: Democrat Elizabeth Warren Proposes Wealth Tax
That is roughly 10 times the revenue that the current estate and gift taxes are projected to raise, but Ms. Warren’s “ultramillionaire-tax” proposal on the top 0.1% isn’t just about… -
media mention January 24, 2019 CNBC: Elizabeth Warren proposes ‘wealth tax’ on Americans with more than $50 million in assets
While the 1 percent of Americans with the highest incomes receive about 20 percent of the total income in the United States, the top 1 percent of wealth holders collectively… -
media mention January 24, 2019 New York Times: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
Ms. Warren appears to be the first declared Democratic candidate to release a plan for a wealth tax, but the idea is quickly gaining steam among liberal activists and policy… -
media mention January 24, 2019 Politico: Let’s Talk Wealth Tax
Steve Wamhoff at the Institute on Taxation and Economic Policy projects that a wealth tax could raise well over $1 trillion in a decade, and notes that wealth inequality far… -
media mention January 23, 2019 Bloomberg: Cannabis Excise Tax Revenue Could Eclipse Alcohol Revenue in 2019
Excise tax revenue from marijuana sales is expected to surpass alcohol excise collections in 2019, according to the co-author of a new report. Carl Davis, a research director at the… -
media mention January 23, 2019 Bloomberg: Economic Policy Group Makes Case for 1 Percent Wealth Tax
A 1 percent tax on taxpayers’ net worth over $32.2 million, starting in 2020, would raise $1.26 trillion over a decade, according to a new report from the Institute on… -
media mention January 23, 2019 Politico Morning Tax: The Broad View on Pot
There’s been plenty of coverage of states legalizing recreational marijuana and then overestimating how much revenue they’ll see. But a new report from the liberal Institute on Taxation and Economic… -
media mention January 19, 2019 Maui Now: Report: Hawaii Could Recover $38M Lost to Corporate Tax Loopholes
Reforms to end corporate tax loopholes in Hawai‘i could reduce lost tax revenue and bring in an additional $38 million to the state, according to a new report released on… -
media mention January 18, 2019 The Daily Chronicle: Senate Hears Testimony on Governor’s Proposed Capital Gains Tax
Last fall, a report from the Institute on Taxation and Economic Policy showed that the lowest 20 percent of earners pay almost 18 percent of family income in taxes, while… -
media mention January 18, 2019 Oregonian: Big corporations moving profits offshore costs Oregon $175 million a year: study
“Every dollar that we allow big corporations not to pay, someone else has to pick it up,” said Richard Phillips, a senior analyst with the Institute on Taxation and Economic…