
July 23, 2014
“Rich told PolitiFact Florida in an interview, “don’t hold me to ‘third regressive.’ …. I did not say ‘third’ definitively. … We are one of the most regressive.” Rich cited a 2013 report by The Institute on Taxation and Economic Policy, which partners with Citizens for Tax Justice, a group that advocates for fair taxation of […]
July 22, 2014
“But while sale tax holidays are popular with consumers, critics argue that they do nothing to stir economic growth, and they simply shift spending on already planned purchases. One of these organizations is the Institute on Taxation and Economic Policy, a nonpartisan group that said sales tax holidays will cost states at least $300 million […]
July 21, 2014
Let’s look at the numbers. According to the American Road and Transportation Builders Association, from 2011 (the latest available), the average driver travels 11,318 miles each year and the average vehicle gets 21.4 miles-per-gallon, consuming 530 gallons of fuel per year. That means the average consumer pays $97.52 per car per year in federal fuel […]
July 21, 2014
“According to an analysis done for the progressive advocacy group Policy Matters Ohio by the nonpartisan Institute of Taxation and Economic Policy, fully half of this year’s $400 million tax cut will go to the top 5 percent of Ohio taxpayers. Ohio’s 1 percent — those with average annual incomes of more than $1 million […]
July 18, 2014
“While Congress seemingly has found consensus on a short-term fix, the House and Senate once again have put off the real work of governing — finding a solution that keeps the highway fund solvent long-term…. “Even if revenue from the gas tax remained constant, its buying power to pay for asphalt, labor and other construction […]
July 17, 2014
“Medtronic officials are pushing back against widely published suggestions that the company’s proposed acquisition of Ireland-based Covidien is motivated primarily by a desire to avoid U.S. taxes… “Tax experts and financial analysts have speculated that the inversion deal would let Medtronic invest its overseas cash in the U.S. while potentially avoiding billions in taxes. The […]
July 16, 2014
“While at Farallon, however, Mr. Steyer used loopholes in U.S. tax regulations to produce maximum returns for his elite clientele. That included using tax havens in the Cayman Islands, the British Virgin Islands and Mauritius, ‘where there are no regulations at all, no call for transparency, and have little to no income tax rates,’ said […]
July 16, 2014
“The new definition of America, [journalist Jose Antonio Vargas] said, must acknowledge the reality that today’s immigrants, like those before, are here to stay. They contribute to the economy. Vargas said undocumented workers in the United States paid $11.2 billion in state and local taxes in 2010.“‘Here in Rhode Island,’ he said, ‘they pay $28 million in […]
July 14, 2014
“U.S. governors say they won’t be able to plan or build all the major highway and bridge projects the country needs as long as Congress delays action on a long-term funding plan…. “As Congress delays a long-term solution, states are acting. Seven, including New Hampshire and Wyoming, have raised or adjusted fuel levies since February […]
July 10, 2014
“Cutting the income tax does little for the poorest Ohioans because they don’t have much income-tax liability to begin with, Schiller said. As they review current tax breaks, Schiller said, state leaders should restore and expand funding to local governments, schools, and health and human services, all of which he said would improve communities and […]
July 9, 2014
“The Institute on Taxation and Economic Policy reports these large companies like Facebook pay their executives in stock options instead of cash which doesn’t cost the company a dime yet they can write it off as an expense. So Facebook profited more than a billion dollars in 2012 and since they’re not paying, it could […]
July 9, 2014
“As usual, Congress does not want to face up to its responsibilities. The Senate has passed a four-year, $265 billion plan — $37 billion less than the White House proposed — but has no way to pay the bill aside from the fuel tax. The House, meanwhile, has come with a one-year fix by ending […]
July 7, 2014 • By ITEP Staff
Most of the $400 million-plus in tax cuts for Fiscal Year 2015 will go the affluent. The Mid-Biennium Review also continues with an unfortunate Ohio tradition of permitting or enlarging tax benefits to special, narrow groups of taxpayers. Read the Full Report
July 7, 2014
Like other income-tax cuts, the latest batch favors the wealthiest Ohioans. An analysis by the Institute on Taxation and Economic Policy, a nonprofit research group with a model of the tax system, found that the top 1 percent of Ohioans, who had incomes of at least $360,000 last year, will receive an average tax cut […]
July 7, 2014 • By ITEP Staff
Undocumented immigrants pay an estimated $64 million in state and local taxes, according to a new Iowa Policy Project report. The authors suggest immigration reform that expands work authorization or access to citizenship would increase the already significant contribution to Iowa by all immigrants — documented or not. Read the Full Report
July 7, 2014 • By ITEP Staff
In this report we compare the effects of $10 (AB10) and $13 (SB935) minimum wage levels in California. We show that AB10 restores some of the ground lost by low-paid workers in recent years, but it maintains the inflation-adjusted minimum wage at about the same level as in 1988. The Leno bill, SB935, goes much […]
July 3, 2014
In other words, cutting the income tax helps those at the top way more than it helps the other 85 percent of taxpayers, who barely pay any income tax at all. But people at the lower end of the income ladder do pay plenty in sales tax, gas taxes, sin taxes and a variety […]
July 3, 2014
And Fisher says they would be far less at risk of workplace abuses or wage theft. Fisher and a research associate used government data as well as formulas from the Institute on Taxation and Economic Policy to determine how much undocumented immigrants pay in Iowa sales taxes, property taxes and income taxes. Fisher says undocumented […]
June 27, 2014 • By ITEP Staff
Georgia continues to wrestle with the fallout of relying on a revenue system that can’t raise enough money to meet the needs of a modern, growing state. Hospitals are closing, traffic is gridlocked and local school districts are cutting calendar days and increasing class sizes. Public investments in education, transportation and other vital services are […]
June 27, 2014 • By ITEP Staff
Read the Full Report
June 26, 2014
The Levin bill is effective precisely because it is multi-layered, said Steve Wamhoff, legislative director for Citizens for Tax Justice, a nonprofit advocacy group in Washington, D.C., and a policy analyst at the Institute on Taxation and Economic Policy.
June 24, 2014
"If you don't tax services in the long run, you don't have a sales tax. End of story," says Matt Gardner, executive director of the Institute on Taxation and Economic Policy. He says states should tax more services, ideally at a lower rate. But broadening the tax base isn't easy, he says.
June 19, 2014
But Texas has sales and property taxes that make its overall burden of taxation on low-wage families much heavier than the national average, while the state also taxes the middle class at rates as high or higher than in California. For instance, non-elderly Californians with family income in the middle 20 percent of the income distribution pay combined state and local taxes amounting to 8.2 percent of their income, according to the Institute on Taxation and Economic Policy; by contrast, their counterparts in Texas pay 8.6 percent.
June 19, 2014
A study by the Institute on Taxation and Economic Policy of state taxes found that the share of state and local taxes paid by Alabamians based on income is considerably higher for those earning in the lowest 20 percent (10.2 percent) and the second lowest 20 percent (10.4 percent). By comparison, the top 1 percent of income earners paid only 3.8 percent of their income in state and local taxes.
June 17, 2014
By Christopher Snowbeck, June 17, 2014 Is Medtronic’s massive international corporate merger a billion-dollar tax dodge, an indictment of the U.S. tax code or a business-savvy work-around that could spur investment and growth in the Twin Cities? The answer depends on whom you ask. … As of last year, Medtronic had about $20.5 billion in […]