
April 24, 2013
(Original Post) By Nanette Byrnes Tue Apr 23, 2013 2:19pm EDT (Reuters) – From Louisiana to Ohio, Massachusetts and Nebraska, bold proposals to upend state tax laws are losing momentum in the face of political squabbles and special interest opposition. Just a short time ago, it looked as if several state leaders would show gridlocked […]
April 22, 2013 • By ITEP Staff
Since the 21-percent reduction in state income taxes approved in 2005, Ohio’s economy has underperformed the nation. There is little reason to believe that another round of income-tax cuts will produce a different result.Read the Full Report
April 22, 2013
(Original Post) The price of gasoline is constantly on people’s minds. The prices you see on those gas-station signs everywhere you drive are tough enough to swallow, but what you may not know is the extent to which gas taxes contribute to those prices. The federal tax is $0.184 per gallon, and states add their […]
April 22, 2013
(Original Post) By Aaron LoudenslagerThe Badger Herald Apr 22, 2013 6:00am Some debates are perpetual in nature. The never-ending debate about whether or not the minimum wage is good economic policy is one of them. Regardless, it is a debate I find intriguing and one I feel obligated to enter. Contrary to the assertions of […]
April 22, 2013
Written by Dan Carpenter Do Hoosiers even want Gov. Mike Pence’s income tax cut? And should they, considering that Indiana has one of the most regressive, elitist, tax systems in the nation, and what’s on the table will only make matters worse? The first question was put to Pence in a recent meeting with The […]
April 22, 2013
(Original Post) By Brad CooperKansas City Star Published Sunday, April 21, 2013, at 6:54 a.m. Eliminating or slashing the income tax is a romantic idea for many politicians. Getting there is much less dreamy. Just ask Republican Kansas Gov. Sam Brownback and a handful of other GOP governors who want income tax cuts but propose […]
April 22, 2013
(Original Post) By Caroline Fairchild Posted: 04/20/2013 9:13 am EDT | Updated: 04/20/2013 9:19 am EDT As Washington lawmakers struggle to find ways to balance the national budget, a significant source of revenue may be burning away right before their eyes. The federal legalization of marijuana would offer a large new revenue stream, according to […]
April 22, 2013
(Original Post) April 19, 2013|By WADE GIBSON | COMMENTARY, The Hartford Courant Most people would agree that Connecticut’s wealthiest residents should pay a greater share of their income in taxes than middle- and working-class residents. With 100, 1,000 or even 10,000 times more disposable income than the average resident, the state’s richest individuals can afford […]
April 22, 2013
(Original Post) by LAMAR W. HANKINS “Now a petty, narcissistic, pridefully ignorant politics has come to dominate and paralyze our government, while millions of people keep falling through the gaping hole that has turned us into the United States of Inequality.” – Bill Moyers Almost every week, I hear from a friend, acquaintance, or political […]
April 22, 2013
By Travis Waldron on Apr 18, 2013 at 5:00 pm New Jersey Gov. Chris Christie (R) is reviving a once-failed income tax plan that will give a 10 percent tax cut to all of the state’s residents but will grant more of its benefits to the wealthiest New Jerseyans. Christie pitched a similar plan in […]
April 22, 2013
(Original Post) By Brandon Blackwell, The Plain Dealer on April 15, 2013 at 8:00 PM, updated April 15, 2013 at 8:03 PM COLUMBUS, Ohio – Gov. John Kasich’s plan to slash income taxes would allow Ohioans to keep more of what they earn than the revamped proposal by his fellow Republicans in the Ohio House. […]
April 19, 2013 • By ITEP Staff
State revenues plummet in recessions, just when states can least afford the loss. Some proposals to address this flaw in state tax systems would change the systems’ structure — for instance, by replacing state personal income taxes with sales taxes — but wouldn’t solve the problem and would exacerbate others in state tax systems. States […]
April 16, 2013 • By ITEP Staff
As Minnesotans debate an income tax increase on the highest-income households, they should do so knowing that a large and growing body of economic research makes it clear that such factors as job opportunities, housing costs, climate and being close to family are much more often behind moves from state to state – not changes […]
April 15, 2013
(Original Post) It’s pretty clear that US businesses are socked more than their global peers, but just how much they actually pay is quite murky. By Jonathan Berr Fri 10:58 AM Democrats and Republicans, who agree on very little anymore, are united in their belief that the top rate for U.S. business taxes needs to […]
April 15, 2013
April 12 By BRAD COOPER The Kansas City Star TOPEKA — This could be, for better or worse, the year of the poor in Kansas. The dominant powers in the Statehouse — Republicans controlling the legislative and executive branches — regularly press bold measures calculated to jet-charge the economy and put more people to work. […]
April 15, 2013
(Original Post) Updated April 12, 2013, 11:48 a.m. ET The federal gasoline tax is broken. Our highways and bridges are in desperate need of improvement and repair and revenue collected from the 18.4 cent per-gallon tax—the main source of funding for roadways—is falling far short of what we need to fix our crumbling infrastructure. There […]
April 15, 2013
(Original Post) By Plain Dealer guest columniston April 14, 2013 at 3:00 AM On April 13, 2001, my son’s preschool was closed for Good Friday, and I was very pregnant, not done with my tax return and facing a mountain of work before my baby arrived. After running my son around all morning, I warned […]
April 15, 2013
(Original Post) Posted: 04/13/2013 By: Max Resnik TULSA – According to the non-partisan, non-profit Institute on Taxation and Economic Policy, the proposed income tax cut currently being discussed by Oklahoma Gov. Mary Fallin and legislative leaders would add little cash to the pockets of Oklahomans. Much of the discussion has involved reducing the income tax […]
April 12, 2013
Apr. 12, 2013 12:45 PM Written by Gilda Jacobs is president and CEO of the Michigan League for Public Policy. Tax day is right around the corner — and if you are a hardworking family in a low-paying job, you may be in for a big surprise. That’s because in 2011 the Michigan Legislature slashed […]
April 12, 2013 • By ITEP Staff
Duke Energy at a glance Largest electric power holding company in the U.S.; serves vast majority of NC electric consumers Assets: $114 billion 2012 Profits: $1.792 billion Net 2012 tax rate: -2.6% (rebate of $46 million) 2008-12 profits combine: $9.1 billion Net 2008-12 tax rate: -3.3% ($299 million in total rebates) Read the Full Report
April 12, 2013 • By ITEP Staff
Merck & Co. at a glance One of the largest pharmaceutical companies in the world; key player in global vaccine production and distribution. 2012 Sales: $14 billion 2012 Assets: Total assets of the Merck Group—$28.3 billion Total Profits 2008-12: $19.6 billion Profits held offshore: $53.4 billion as of 2012 ($22.2 billion added betweem 2008 and […]
April 12, 2013 • By ITEP Staff
Former Supreme Court Justice Oliver Wendell Holmes once noted that “Taxes are what we pay for civilized society.” State and local taxes support our public schools, colleges, and universities; streets and highways; public hospitals that form the backbone of the state’s trauma care system; parks and beaches; the public health infrastructure that ensures that our […]
April 12, 2013 • By ITEP Staff
Navigating Virginia’s New Transportation Funding Package – and Potential Potholes The final transportation package passed by the General Assembly raises a lot of money for our roads, bridges and mass transit– but it creates some problems, too. The final legislation (HB2313) makes far-reaching changes in the way transportation is funded in Virginia. Among the key […]
April 12, 2013
(Original Post) By BRUCE BARTLETT, The Fiscal TimesApril 12, 2013 Louisiana Gov. Bobby Jindal has been a rising star in the Republican Party for some years. But this year he made a serious misstep on reforming the state’s tax system that has national implications, reducing the chances of tax reform in Washington. To begin with, […]
April 9, 2013
(Original Post) The Huffington Post | By Jillian Berman Posted: 04/08/2013 6:29 pm EDT | Updated: 04/09/2013 11:53 am EDT Walmart, Apple, J.Crew and scores of other famous retailers are members of a group pushing for changes in the corporate tax code that would benefit companies that stash more cash abroad. The Retail Industry […]