Citations
ITEP's Citations Research Priorities
City Pages: Emmer, Paulsen, and Lewis Decide the Deficit Isn’t So Important After All
October 27, 2017
The 1 percent gets served first, of course. The wealthiest Minnesotans will receive 62 percent of the state’s tax cuts next year for an average of $66,000, according to the nonpartisan Institute on Taxation and Economic Policy. Middle-class Minnesotans get 7 percent of cuts, or an average of $370. Unfortunately, this presents a new problem. […]
American Prospect: Republicans Want to Make Corporate Tax Avoidance Easier
October 26, 2017
According to a recent report by the Institute on Taxation and Economic Policy and the U.S. PIRG Education Fund, 73 percent of Fortune 500 companies have subsidiaries in a low-tax country. All told, American corporations have steered more than $2.6 trillion in earnings into offshore tax havens. The specter of corporate profit-shifting has become more […]
Star-Ledger: You’re Now More at Risk of Losing Your Property Tax Break
October 26, 2017
The loss of the state and local tax deduction would mean higher taxes for 26.4 percent of New Jersey taxpayers, according to a study by the Institute on Taxation and Economic Policy, a progressive research group in Washington. That was second to Maryland, at 30.5 percent, the group said. Read more
International Business Times: Do Lower Taxes Spur Economic Growth? What Happened In No-Tax States
October 26, 2017
Researchers at the non-partisan and non-profit Institute on Taxation and Economic Policy compared the nine states without personal income taxes, which include Florida, Texas and Washington, to the nine states with the highest top marginal tax rates over the last decade, which include California, New York and Oregon. They found the states with the highest […]
CNN: How Trump’s Policies Could Hurt the Rust Belt
October 25, 2017
Rust Belt states Ohio, Michigan and Indiana are not home to large populations of $1 million household income earners. Rather, they’re in the middle or bottom of the pack, according a summary from the Institute on Taxation and Economic Policy. States with a higher percentage of millionaire earners voted for Hillary Clinton in the 2016 […]
Forbes: Which U.S. Companies Have the Most Tax Havens
October 24, 2017
Every year, U.S.-based multinational corporations use tax havens to avoid paying an estimated $100 billion in federal income tax. According to a report from the Institute on Taxation and Economic Policy, 366 of the country’s 500 largest companies maintain at least 9,755 tax haven subsidiaries where they hold over $2.6 trillion in accumulated profits. Apple is […]
Wall Street Cheat Sheet: 15 People Who Will Cash in Big from the Trump Plan
October 23, 2017
According to the the Institute on Taxation and Economic Policy, it would be a tale of two classes. The top 1% (those earning over $600,000) would see an average tax cut of $145,000. Americans earning less than $66,200 would get an extra $1,250. Financial analysts from the country’s top banks predict the plan would add over […]
Think Progress: Trump’s Tax Bill Is a Swamp Monster
October 19, 2017
Piper was among several Fierce lobbyists working for Apple on the bill in the Senate, House, and the Executive Office of the President. Apple — the company that had over $230 billion overseas as of 2016 — has been lobbying to allow multinational corporations like itself to bring such accumulated foreign earnings back to the U.S. […]
CNN: America Needs Higher Wages, Not Lower Taxes
October 19, 2017
There’s no argument over who benefits from the current Republican proposal to cut taxes, if you put aside ideology and honestly look at the numbers. According to analyses from the Tax Policy Center and the Institute on Taxation and Economic Policy, more than two-thirds of the tax cuts would benefit the richest 1% of Americans […]
Michigan League for Public Policy: Immigrant families in Michigan: A state profile
October 18, 2017 • By ITEP Staff
Michigan immigrants also contribute millions in tax revenue each year, and in doing so help pay for important public programs and infrastructure in the state. In 2015 for example, undocumented immigrants in Michigan paid approximately $86.6 million in state and local taxes. Young undocumented immigrants also contribute their share in taxes. In 2015, DACA-eligible immigrants […]
NPR’s Marketplace: Can You Convince Americans to Support Lower Corporate Taxes by Promising Them a Pay Raise?
October 18, 2017
Another reason Trump’s message may not land? Many economists don’t think that corporate tax cuts will lead to higher wages. “It’s a pretty far-fetched claim,” said Matthew Gardner of the Institute on Taxation and Economic Policy. Gardner said the corporate tax cuts would likely mean bigger payouts for shareholders, but there’s no guarantee anything would […]
Reveal: The Fight for Public Education
October 17, 2017
In this radio interview, ITEP research director Carl Davis discusses the downfalls of using tax credits for private education. Carl is featured around the 8:40 mark. Read more
Washington Examiner: Indiana’s Tax Cuts Haven’t Led to Higher Paychecks
October 17, 2017
Carl Davis for the Institute on Taxation and Economic Policy: In announcing a tax cut framework in Indianapolis that was negotiated with House and Senate leaders, President Trump said, “Indiana is a tremendous example of the prosperity that is unleashed when we cut taxes and set free the dreams of our citizens … In Indiana, […]
Wisconsin Public Radio: Paul Ryan Defends Tax Proposal Health Insurance Subsidy Cut
October 17, 2017
A study by the Institute on Taxation and Economic Policy in Washington DC found about 60 percent of the proposed tax cuts would benefit the top 1 percent of income earners in Wisconsin. Ryan said Monday he hadn’t seen that report, but maintained his stance that cutting taxes on businesses would help middle-income people by creating more jobs. […]
Commonwealth Institute: Average Virginian Families Provided a Pittance from GOP-Trump Tax Plan, Top 1% Would See Windfall
October 17, 2017 • By ITEP Staff
Who in Virginia would benefit from the type of tax cuts proposed by the Trump administration and congressional Republicans? New analysis by the Institute on Taxation and Economic Policy released in October shows that nearly 80 percent of all of the tax cuts in Virginia would go to the top 1 percent–households with an average of income of $1.7 million...
International Business Times: Three quarters of Fortune 500 companies used offshore tax havens in 2016
October 17, 2017
New research has revealed that 73% or 366 companies on the Fortune 500 list, including brands as big as Nike, Apple and Citigroup, used tax havens to avoid US taxes in 2016. A new report, published on Tuesday (17 October) by the Public Interest Research Group (PIRG) Education Fund and the Institute on Taxation and […]
The Nation: How the Swindlers of Silicon Valley Avoid Paying Taxes
October 17, 2017
The Institute on Taxation and Economic Policy (ITEP), a nonpartisan organization, has warned, “Corporations would have even greater incentives to engage in accounting gimmicks to make their U.S. profits appear to be earned in offshore tax havens such as Bermuda and the Cayman Islands, where corporate profits are not taxed.” The logic for companies is […]
Fiscal Times: 4 Corporate Giants Benefiting from Offshore Tax Havens
October 17, 2017
A new report by the U.S. Public Interest Research Group Education Fund and the Institute on Taxation and Economic Policy finds that nearly three-quarters of Fortune 500 companies used offshore tax havens in 2016. The report says that four companies — Apple, Pfizer, Microsoft and General Electric — account for a quarter of the $2.6 […]
Bloomberg BNA: Taxes Lost to Offshore Profits Rise to $752B in 2016
October 17, 2017
The report, released Oct. 17 by the left-leaning U.S. Public Interest Research Group Education Fund and the Institute on Taxation and Economic Policy, “undermines the case for any tax proposal that would allow companies to repatriate their U.S. profits at a special low tax rate,” according to a news release. In addition to a lower […]
Wisconsin Budget Project: What the Trump Tax Plan Means for Wisconsin Taxpayers, in Six Charts
October 17, 2017 • By ITEP Staff
The tax plan being advanced by President Trump and Republican members of Congress would mostly benefit the extremely rich, despite initial claims by proponents that it would be targeted at members of the middle class...Using data from an analysis by the Institute on Taxation and Economic Policy, we have prepared six charts that show how the Trump-GOP tax framework would affect Wisconsin taxpayers:
New York Times: U.S. and Europe May Collide on Taxing Apple and Amazon
October 13, 2017
The rulings on Amazon and Apple — which those companies are disputing — are byproducts of a race among governments to lure corporate giants to their shores in the hunt for new sources of revenue. That cutthroat competition is the reason that 73 percent of Fortune 500 companies have a subsidiary in a low-tax haven, […]
FiveThirtyEight: The GOP Had One Big Divide On Health Care. It Has Three On Taxes.
October 11, 2017
Here’s the problem: The draft Republican plan would raise a lot of people’s taxes. Estimates from the Tax Policy Center suggest that limiting tax deductions and going from seven tax brackets to three would cause tax increases for about 12 percent of taxpayers,1 including a third with incomes between $150,000 and $300,000, who would pay […]
Select State News Coverage of ITEP’s 50-State Analysis of the GOP Tax Proposal
October 10, 2017
The Sentinel: Trump Tax Even in Harrisburg Will Feature Truckers The Columbus Dispatch: 15% of Ohioans Could See Tax Increase Under GOP Plan KGW Portland: Richest Oregonians Benefit Most from Proposed Tax Cuts Raleigh News & Observer: The Racial Wealth Divide Could Grow with Tax Changes Northwest Indiana Times: Hoosiers Would Lose in Trump Tax […]
Ralph Nader Radio Hour: The Truth About Trump’s Tax Plan
October 7, 2017
Ralph and Alan Essig, Executive Director of Citizens for Tax Justice break down President Trump’s Tax Reform proposal and insurance expert, Robert Hunter, returns to explain what’s going on with hurricane and flood insurance in the wake Harvey, Irma and Maria. Read more
Electablog: Everything You Need to Know About the Trump Tax Plan
October 7, 2017
http://www.eclectablog.com/2017/10/episode-53-everything-you-need-to-know-about-the-trump-tax-scam.html
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