Select Media Mentions
Knoxville News Sentinel: Moves to Repeal Hall Income Tax Begin
September 22, 2014
The Institute on Taxation and Economic Policy did an analysis earlier this year that found wealthy residents — income averaging $970,000 per year — would receive “a whopping 63 percent of the benefits” from repeal of the Hall while another 23 percent “would go to the federal government because residents who pay the tax would […]
Politico: State Taxes and Poverty
September 19, 2014
The left-of-center Institute on Taxation and Economic Policy today will release “State Tax Codes as Poverty Fighting Tools,” a report on how states’ tax policies are helping — or hurting — the 15 percent who live in poverty: “The fact is that nearly every state and local tax system takes a much greater share of […]
The Mobile Register: The Perfidious Penny Tax
September 19, 2014
In just 21 minutes last Tuesday, six members of Mobile’s City Council (all but Bess Rich) broke faith with their citizens, sandbagged taxpayers, hurt the city’s long-term economic development, delayed the impetus for broader tax reform, enshrined bloated municipal government as what amounts to a permanent condition, refused to remove an anvil from the backs […]
The Daily Pennsylvanian:
September 17, 2014
In 2009, the Pennsylvania Department of Transportation cancelled a number of drivers’ licenses across the state to comply with a 2002 law change. Their justification was that the licenses were flagged in their databases as possibly fraudulent. For many of these licenses, the reason they appeared fraudulent was that they had been issued to people […]
The Guardian: Want to Live in a State with No Income Tax? Make Sure You’re Super Rich First
September 17, 2014
It may sound like a dream to live in the seven US states that have no income taxes: every dollar that doesn’t go to the tax man stays in your bank account, right? Not quite. Taxes reinforce inequality, as it turns out. States with no income tax end up taxing the poor far more heavily […]
Roll Call: Wanted, Lawmakers to Invest in the Future
September 17, 2014
This sign should be plastered all over Washington, D.C., as lawmakers return from summer break. Congress has had the past five weeks to visit their homes and travel on America’s crumbling highway system. It is time for lawmakers to craft a long-term solution which includes multiple funding sources for transportation infrastructure, rather than relying on […]
The Oregonian: Finance Website Study Says Oregon Has Second-Fairest Tax System in U.S.
September 17, 2014
Oregon’s tax system takes a lot of hits, from business figures who think high income taxes discourage investment to seniors who say it’s a struggle to pay property taxes on a fixed income.… This approach certainly fits with the approach of such groups as Citizens for Tax Justice, which has long argued that most state […]
Alston Telegraph: Illinois Not the Worst–for Once
September 17, 2014
It’s always nice when Illinois is not at the absolute bottom of a list. Imagine — finding a reason to rejoice because we are not the worst. So WalletHub study author John S. Kiernan first tried to determine what constitutes a fair state and local tax system. His crew started with an online survey to […]
Kansas City Star: Study Ranks Kansas, Missouri Fairly High in Tax Fairness
September 17, 2014
Missouri and Kansas appear to have relatively fair state and local tax systems when compared with other states, according to a study released Monday. The study by WalletHub, a personal finance website, ranked Kansas 14th for tax fairness. Missouri ranked 21st. The survey results were then compared with state and local tax burden data from […]
The Philadelphia Inquirer: As Wealth Shifts, States Struggle to Tax Rich, Poor
September 17, 2014
The growing concentration of income among the richest Americans has made it tougher for states to fund their budgets, because of the way most states fund public services, writes Gabriel J. Petek, San Francisco-based primary credit analyst for Standard & Poor’s Rating Services. Separately, WalletHub, a Washington-based consumer credit data service owned by ex-Capital One […]
Greenfield Daily Reporter: NY Tax Receipts Keep Rising Despite Growing Gap Between the Rich and the Rest
September 17, 2014
New York tax collections have continued rising despite a growing income gap between its richest residents and everyone else, even as a national study shows overall growth in state tax receipts slowing as the income gap widens across the U.S. While declining to immediately comment on the S&P analysis, Cuomo administration officials pointed to a […]
Newsweek: How Companies Get Rich off Taxes
September 8, 2014
By David Cay Johnston Today at least 362 of the Fortune 500 companies have more than 7,800 tax haven subsidiaries, many stuffed with cash, according to a tiny nonprofit research organization, the Institute on Taxation and Economic Policy. Its detailed analysis of company disclosure statements found that in the five-year period from 2008 through 2012, […]
Spokesman-Review: Corporate Taxes Exaggerated
September 8, 2014
By Lewis Marler Corporations, their lobbyists and most of the media complain that the statutory corporate tax rate is 35 percent and among the highest in the developed world. But studies (Institute on Taxation and Economic Policy) demonstrate the effective tax rate – the percentage of profits that corporations actually pay in taxes – is […]
Chicago Tribune: Roads May Crumble as People Go Green
September 8, 2014
By Julie Wernau State governments aren’t the only ones struggling. Over the past five years, Congress has transferred $53 billion from the general fund to the Highway Trust Fund in order to compensate for lagging gas tax revenues, according to the Institute on Taxation and Economic Policy. The Highway Trust Fund supports 39 percent of […]
Chicago Tribune: How Some of Illinois’s Largest Companies Cut Their Taxes
September 5, 2014
The United States generally taxes the income of large corporations at 35 percent, one of the highest rates in the world. It has spurred companies such as Lake Forest-based Hospira to enter talks to buy a French company in a deal that would enable the drugmaker to move its headquarters to that country and lower […]
NYT: Businesses Are Winning Cat and Mouse Tax Game
September 3, 2014
By David Gelles A pharmaceutical company moved its headquarters to Ireland, sharply reducing its tax rate. A billboard company reclassified itself as a real estate concern, meaning it will no longer pay corporate taxes. And a big oil producer split itself in two, cleaving off a multibillion-dollar division that now operates tax-free.…“Wall Street is whispering […]
Beaver County Times: Taxes May Be Biggest Burden Facing Aliquippa
August 28, 2014
By Tom Davidson, The city still bustles with traffic now and then, although most of it’s just passing through town. On Thursday afternoon, Mayor Dwan Walker and City Manager Sam Gill took a drive through Aliquippa, starting at what they call the east end corridor between the Ohio River and Route 51 where the Jones […]
The Christian Science Monitor: A Solution to Burger King-Like Inversions
August 28, 2014
All the fracas over tax inversions like the recent Burger King-Tim Horton’s merger has generated some interesting ideas for broader changes in the way we tax multinational firms. One would base a firm’s US taxable profits on the US share of its total worldwide sales. … Single sales factor apportionment is hardly new. In 2012, […]
Akron Beacon Journal: After a decade of tax cuts in Ohio
August 25, 2014
“Zach Schiller of Policy Matters Ohio has assessed the broad impact of the changes, with the help of the Institute of Taxation and Economic Policy, a research group in Washington. In a report released this week, he found that as a result, the state has experienced a net decrease in revenue of $3 billion a […]
The Day: Tax-Free Shopping Starts Sunday in Connecticut
August 20, 2014
Connecticut’s annual sales-tax holiday coinciding with back-to-school shopping kicks off Sunday and runs through Aug. 23. The tax holiday primarily applies to clothing and footwear costing less than $300 per item. Gov. Dannel P. Malloy, in an appearance to promote the tax holiday, said this week that the idea is to boost retail sales while […]
The Spectrum: Solution Possible for the Corporate Tax Issue
August 20, 2014
By Della Lowe: A week ago, Walgreen’s reversed its decision to move its corporate headquarters out of the United States, a move that would have been in name only but would have allowed the drugstore chain to save billions of dollars over the next five years in taxes. It appears from the news reports that […]
The Motley Fool: The 5 States with the Highest Sales Tax
August 20, 2014
By Jeremy Bowman: Nearly every state in the union charges a sales tax, and the tax levied on goods and services sold at the retail level is just one of many tools states use to collect revenue, along with licensing and taxes on income, corporations, and property. Sales taxes tend to attract less attention than […]
The Toledo Blade: Tax Shift and Shaft
August 20, 2014
By the Editorial Board: Nearly a decade ago, Ohio placed a fateful bet: that big tax cuts, especially for the state’s richest people and corporations, would generate strong job creation, economic growth, and revenue increases. That mostly hasn’t happened. Columbus’ tax-cut scheme — which costs about $3 billion a year — has forced huge reductions […]
USA Today: Shrinking Revenue Spurs Gas Tax Alternative
August 14, 2014
By Elaine S. Povich It was the potholes that convinced real estate broker Lester Friedman that there’s got to be a better way to pay for road construction and repairs. Friedman, who lives in Bend, Oregon, drives about 8,000 miles a year in his 1999 Chevrolet Suburban, ferrying clients throughout central Oregon. He sees roads […]
Politico: Craft Beer Tastes Great, Less Taxes
August 14, 2014
By Kelsey Snell Trendy craft beer sales are booming, and cities and states are hoping tax breaks will help them elbow their way into a seat at the bar. Targeted tax breaks are a favorite tool for states looking to capitalize on a growing industry, and states from California to New York are all hoping […]
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