Institute on Taxation and Economic Policy

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CBS News: Kan. lawmakers pass tax cuts, but more work seen

December 17, 2012

May 10, 2012 11:10 AM TOPEKA, Kan. — Massive tax reductions cleared the Kansas Legislature on Wednesday, but even as Gov. Sam Brownback and his conservative Republican allies marked a political victory, they scrambled to start containing possible future budget problems. The House narrowly approved a bill to cut income and sales taxes by an […]

South Maryland News: O’Malley reflects on gas tax, transportation funding

December 17, 2012

Friday, May. 11, 2012 by Danielle E. Gaines, Staff Writer The following story was updated at 2:50 p.m. May 11. Gov. Martin O’Malley reiterated the need for increased transportation funding in the state this week, while acknowledging that his gas tax proposal was a long shot politically. “There is no revenue proposal more unpopular in […]

Wall Street Cheat Sheet: Uncle Sam Must Love These 30 Companies

December 17, 2012

(Original Post) By Eric McWhinnie May 15 2012 Forget Tax-mageddon, Washington already has tax issues it is avoiding. Last year, Citizen for Tax Justice and the Institute on Taxation and Economic Policy issued a report on federal income taxes paid or not paid by large corporations. Despite the U.S. corporate tax rate being 35 percent, […]

Southtown Star: Should supermarkets solicit charitable donations?

December 17, 2012

(Original Post) By David McGrath May 18, 2012 10:22PM Tell me you haven’t been there. You’ve filled your grocery cart, are feeling pretty good about many of your purchases being on sale and you have a stack of coupons for discounts on several other items. At checkout, the cashier is friendly, even remarking on all […]

Associated Press: Kan. governor signs massive income tax cuts bill amid debate over potential for budget crisis

December 17, 2012

JOHN HANNA  Associated Press Last Updated: May 22, 2012 – 5:18 pm TOPEKA, Kan. — Kansas Gov. Sam Brownback signed massive income tax cuts into law Tuesday, expressing confidence they would boost the economy and not create future budget problems or shift the state’s tax burden to the poor. “Today’s legislation will create tens of […]

Bloomberg: IRS Finds One in 189 High Earners Paid No 2009 U.S. Tax

December 17, 2012

(Original Post) By Richard Rubin – May 29, 2012 3:53 PM ET The percentage of U.S. taxpayers reporting adjusted gross income exceeding $200,000 who paid no U.S. income taxes increased in 2009 to 0.53 percent from 0.51 percent, meaning that one in 189 high earners avoided taxation, an Internal Revenue Service study found. The filers […]

Chicago Tribune: Tax distortions

December 17, 2012

(Original Post) June 08, 2012 This is in response to “Illinois shouldn’t adopt progressive tax; Take it from an ex-Californian” (Perspective, June 8), by Lawrence J. McQuillan, chief economist at the Illinois Policy Institute, a free-market think tank. I was alarmed by the way McQuillan’s op-ed distorts both the Illinois and California tax systems. He […]

Truthout: States to Residents- Forget Promises to Restore School Funding

December 17, 2012

(Original Post) Saturday, 09 June 2012 11:12 By Mike Alberti, Remapping Debate | News Analysis When Wichita Public Schools Superintendent John Allison learned that, thanks to rising revenues, Kansas was projected to have a budget surplus of more than $300 million at the end of the year – the state’s first surplus since the recession […]

Newsroom New Jersey: GOP’s Bush tax cuts will not help New Jerseyans in need

December 17, 2012

Wednesday, 20 June 2012 11:20 Bottom 60 percent of earners would see higher tax bills, while richest 1 percent would get tax break of $71,960 a year Middle-income and low-income New Jerseyans would pay more in taxes under the Congressional Republicans’ plan to extend the Bush tax cuts than they would under President Obama’s plan, […]

NJ Biz: Federal tax cut extension would be welcome news to business owners

December 17, 2012

(Original Post) June 20. 2012 1:29PM By Katie Eder If all the George Bush-era tax cuts are extended under the Congressional Republicans’ proposal, New Jersey’s highest earners would pay significantly less taxes in 2013, while middle- and low-income taxpayers would pay nearly the same amount they do today, according to an analysis today released by […]

Bloomberg: States Lacking Income Tax Get No Boost in Growth

December 17, 2012

(Original Post) By Brian Chappatta on June 25, 2012 Governors seeking to expand their economies by eliminating income taxes find little support for the idea in the record of U.S. states that lack such a levy. The BGOV Barometer shows the nine states with the highest personal income taxes on residents outperformed or kept pace […]

Think Progress: Having No Income Tax Gives States No Economic Boost

December 17, 2012

(Original Post) By Pat Garofalo on Jun 26, 2012 at 10:30 am According to a report from the Institute on Taxation and Economic Policy, states without an income tax received no discernible boost in growth over the last decade compared to states with relatively high income taxes. Lacking an income tax provided no boost to […]

New York Times: No Income Tax? No Boost.

December 17, 2012

(Original Post) June 26, 2012, 3:52 pmBy JULIET LAPIDOS This past February, Oklahoma Governor Mary Fallin announced a plan to phase out her state’s income tax over ten years. “We’re going to have the most pro-growth tax system in the region,” she said, according to The Wall Street Journal.  Lawmakers in Kansas and Missouri have […]

Salon: Supply-side guru- Wrong again

December 17, 2012

(Original Post) More evidence that cutting taxes does not automatically lead to prosperityBy Andrew LeonardTuesday, Jun 26, 2012 11:11 AM EDT There are so many nails in the coffin containing supply-side economics that it’s hard to find room for another one, but with yet another Republican presidential candidate chanting the mantra coined by Ronald Reagan’s […]

NPR’s State Impact: Recent Study Questions “New Hampshire Advantage”

December 17, 2012

(Original Post) June 29, 2012 | 11:23 AMBy Emily Corwin A couple of weeks ago, Arthur Laffer — an economist made famous for his work in the Reagan administration — co-wrote an opinion piece for the Wall Street Journal warning that the expiration of federal tax cuts in January puts the country on the verge […]

The Oklahoman: Citizens for Tax Justice working for fair and sustainable tax system

December 17, 2012

(Original Post) “Class warfare creeps into tax cut extension debate” (Our Views, June 26) mischaracterized Citizens for Tax Justice’s views in criticizing our report about the expiring tax cuts. The CTJ report is based on numbers from the Institute on Taxation and Economic Policy’s micro-simulation model that estimates the effect of tax policy changes on […]

Virginia Connection: Documentary Tackles Corporate Tax Evasion

December 17, 2012

(Original Post) “We’re Not Broke” screening in Arlington makes taxation a question of justice. By Erik Heaney Monday, July 2, 2012 Arlington — In Karin Hayes and Victoria Bruce’s documentary film, “We’re Not Broke,” which played to an audience in the Arlington County Library June 25, makes the case that taxes are not America’s problem. […]

The Young Turks: Do High Taxes Kill Growth?

December 17, 2012

(Original Post) Published on Jul 2, 2012 by TheYoungTurks Cenk Uygur refutes the Republican talking point that if you cut taxes you’ll spur the economy. Cenk discusses the Institute on Taxation and Economic Policy’s recent report on state taxes. Tell us what you think in the comment section below. Read the report: https://itep.org/whopays3.pdf  

International Business Times: How Much Would Middle Class Save With Bush Tax Cut Extension?

December 17, 2012

(Original Post) By Ashley Portero July 9, 2012 1:52 PM EDT President Barack Obama on Monday officially called for a one-year extension of the Bush tax cuts for middle-class families while allowing those cuts for the  wealthy to expire, a strategy that has previously been scorned by Republicans who argue rescinding those lower rates for […]

New York Times: To Cut Taxes or Keep Services- 2 States Act as Test Cases

December 17, 2012

(Original Post) By MICHAEL COOPERPublished: July 10, 2012 OCEAN CITY, Md. — As state governments begin to emerge from the long downturn, many are grappling with a difficult choice: should they restore some of the services and jobs they were forced to cut after the recession or cut taxes in the hopes of bolstering their […]

The Milford Daily News: Some question value of sales tax holiday

December 17, 2012

(Original Post) By Laura Krantz/Daily News staffMetroWest Daily NewsPosted Jul 13, 2012 @ 01:11 AM FRAMINGHAM — When Jim Green heard about this year’s sales tax holiday, his reaction was “Oh my God!” Green owns Automatic Appliance Service in Framingham, a six-employee family business that recently celebrated its 50th anniversary. “You can do a month’s […]

Capital Gazette: Marylanders have a lot riding on tax policy

December 17, 2012

Posted: Friday, July 13, 2012 10:30 am | Updated: 1:25 pm, Fri Jul 13, 2012. In an interesting article this week, The New York Times used Maryland’s Democratic Gov. Martin O’Malley and Sam Brownback, the Republican governor of Kansas, as examples of the contrasting Democratic and Republican approaches to state spending, now that revenue is […]

The Nation: ‘We Can’t Afford It’: The Big Lie About Medicaid Expansion

December 17, 2012

(Original Post) Richard Kim on July 20, 2012 – 10:47 AM ET In his letter to Health and Human Services Secretary Kathleen Sebelius rejecting the expansion of Medicaid under the Affordable Care Act, Texas Governor Rick Perry tells a whopper. Expanding Medicaid, he writes, would “threaten even Texas with financial ruin.” Texas has the highest […]

The Examiner: GOP plan taxes poor and middle class for the benefit of wealthiest .03 percent

December 17, 2012

(Original Post) GOP Tax ProposalJuly 25, 2012By: James Johnson The lengthy title and subtitle of the latest Center on Budget and Policy Priorities report truly says it all, “Senate and House GOP Leaders’ Tax Proposals Would Provide Windfall for Heirs of Largest Estates, But Would Let Child Tax Credit and Earned Income Tax Credit Improvements […]

Bloomberg: Back to School Means Back to Sales Tax Holidays, But Are They Worth It?

December 17, 2012

(Original Post) August 1, 2012 by Kathleen Caggiano t’s that time of year again – the end of summer signals back to school for many families. And it also signals the start of various sales tax holidays, as many states offer various sales tax holidays in the beginning of August. In 2012, 17 states will […]

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