Citations
ITEP's Citations Research Priorities
CNBC: Why Amazon Paid No Federal Income Tax
April 4, 2019
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
New York Times: A Man with a Plan for Inequality
April 3, 2019
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, of the Institute on Taxation and Economic Policy, explains on JustTaxes.org. “Wealthy households, who already own the most in assets, can defer paying tax and […]
CNBC: What the Wyden-Proposed Tax on Unrealized Capital Gains Might mean for You
April 3, 2019
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 loss incurred. “It won’t help the wealthy to hold the asset for a longer time; that ability to defer the tax would be taken away,” […]
Bloomberg: Tax-the-Rich Fervor Builds in Statehouses After Trump’s Big Cut
April 2, 2019
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 corporations are paying too little,” said Carl Davis, research director of the left-leaning Institute on Taxation and Economic Policy. Read more
Bloomberg: Key Democrat Revives Plan to Make Capital Gains Tax Due Annually
April 2, 2019
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 accumulate massive fortunes very rapidly.” Capital gains represent a significant portion of the money earned by the wealthiest households, compared to lower-income taxpayers. Sales of […]
The Columbian: Do We Care that the Tax System Is Unfair?
April 1, 2019
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, poor people in Washington pay a disproportionate amount of taxes. Last year, a report from the Institute on Taxation and Economic Policy determined that the […]
Connecticut Voices for Children: Impact of the Governor’s FY 2020-2021 Budget on Children and Families
March 31, 2019 • By ITEP Staff
Connecticut’s long-term fiscal health and economic growth depend on policies that improve equity and support our most vulnerable families and children. Governor Lamont’s proposed state budget avoids additional major cuts to essential programs and services, though it is based on revenue proposals that fall most heavily on our lowest income taxpayers. It asks little of […]
Connecticut Voices for Children: Connecticut’s Radical New Budget Rules: Locking in Decreased Investment in our State for the Next Decade
March 31, 2019 • By ITEP Staff
Faced with increasingly difficult decisions in crafting the Fiscal Year (FY) 2018-19 biennial budget, the Connecticut General Assembly found itself at an impasse. In order to break the log jam, the legislature included drastic measures in the final budget deal. It is increasingly clear that the long-term effects of these measures will be damaging to […]
The Daily Mail: The States Where Poor Pay Higher Taxes than the Rich
March 28, 2019
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 higher dollar amount in taxes compared to their low-income counterparts. Tax season is here – and the state where you live could determine whether you […]
Yahoo! Finance: What Are the World’s Best Tax Havens
March 26, 2019
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 company registries, according to the International Consortium of Investigative Journalists. The investigation reveals the offshore interests of wealthy and powerful individuals and examines how multinational […]
Policy Matters Ohio: Senate Transportation Budget Zeroes Out Public Transit, Slightly Improves EITC
March 25, 2019 • By ITEP Staff
Last week, the Ohio Senate took a leap backwards by removing $100 million for public transit from the Transportation Budget allocated by the Ohio House of Representatives. They also took small steps to otherwise improve equity by expanding Ohio’s Earned Income Tax Credit. Read more
NBC News: Factory Workers at GM See Layoffs, not Benefits, after Tax Cuts
March 22, 2019
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 always base their investment and job-creation decisions on market fundamentals and consumer demand, not on incremental tax giveaways,” Gardner wrote on his blog. “No amount […]
North Carolina Justice Center: Higher Rates on Higher Income: Why a Graduated Income Tax is Good Policy for North Carolina
March 20, 2019 • By ITEP Staff
At the same time, a graduated rate structure — in contrast with the state’s current flat tax rate on income — can make more revenue available for key public investments, generating broad-based benefits to many people and communities. It is also better able to keep up with the needs of a growing state. That is […]
The American Prospect: New Legislation Would Rein in Corporate Offshoring
March 18, 2019
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 the New International Corporate Tax System,” ITEP laid out priorities for a new international tax system that include eliminating the ability for companies to reincorporate […]
State Millionaires’ Taxes Can Advance Racial Justice
March 15, 2019 • By ITEP Staff
Millionaires’ taxes can help address this problem. They can raise substantial revenue for public services by asking more of those at the top, a group that’s disproportionately white. White families are three times likelier than Black and Latinx families to be in the top 1 percent, according to a report by Prosperity Now and the Institute on Taxation and Economic Policy.
Policy Matters Ohio: Loopholes Upon Loopholes
March 12, 2019 • By ITEP Staff
As noted, of the three deductions, by far the most taxpayers took advantage of the deduction for self-employment taxes. The Institute on Taxation and Economic Policy, which has a model of the federal and Ohio tax systems, roughly estimates that 330,000 of the Ohio taxpayers who had business income and took the self-employment tax deduction […]
GQ: Local and State Taxes Are Making the Wealthy More Rich Now Too
March 12, 2019
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 reliant on sales and excise taxes, rather than income taxes, shift the economic burden onto low- and moderate-income taxpayers. At every level, those who work […]
New York Daily News: Four Ways to Make New York Taxes More Fair
March 12, 2019
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 substantially for the richest 5%, who get an $8 billion-plus windfall, according to the Institute on Taxation and Economic Policy. Rich folks got lucrative tax […]
KUOW: Why Washington Ranks as the Worst State for Poor Residents
March 12, 2019
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 and Florida at the top of the “terrible 10” list in its annual report. The institute says these have the most regressive tax systems, in […]
Crains Chicago: It’s Time to Tax Retirement Income, Illinois
March 11, 2019
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 Security benefits. Among the states, policy varies. According to the Institute on Taxation & Economic Policy, 11 states tax some portion of Social Security benefits, […]
Philadelphia Inquirer: Why It’s Not as Simple as ‘New Jersey Is a High-Tax State’ or ‘Texas Is a Low-Tax State’
March 10, 2019
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. Nationally, households in the lowest 20 percent income group spent 11.4 percent of their income on state and local taxes. In comparison, the top 1 […]
Marketwatch: Trump’s Tax Cuts Are Punishing States that Voted for Clinton
March 7, 2019
MarketWatch looked at the calculations conducted by the Institute for Taxation and Economic Policy, an independent Washington, D.C. think-tank. Bottom line: States that voted for Trump will get 56% of the tax cuts, or an extra $35 billion. Yet according to the Internal Revenue Service’s most recent data, those states were only paying 48% of […]
The Columbus Dispatch: Ohio House Members Want Some Answers before Voting on DeWine’s Gas Tax Hike
March 6, 2019
According to the Institute on Taxation and Economic Policy, 27 states have raised their gas taxes since 2013, including every state adjacent to Ohio. The gas tax affects what people pay at the gas pump, but the effect is not always obvious. Read more
Washington Post: State and Local Tax Laws Are Making the Rich Richer
March 6, 2019
State and local taxes effectively redistribute national income from the poor to the very rich, according to data released this week by the Institute on Taxation and Economic Policy, a progressive think tank. Many state and local governments are heavily reliant on sales taxes, rather than income taxes. Lower-income households tend to spend a greater […]
The Hill: Time Is Long Overdue for Congress to Address Marijuana Banking
March 6, 2019
According to tax data compiled by the Institute on Taxation and Economic Policy, tax revenues in 2018 derived from state-sanctioned recreational sales surpassed $1 billion — a 57 percent increase over 2017 levels. Yet there remains a significant regulatory hurdle facing players and consumers who engage in this market. Read more
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.