
September 26, 2014
The number of unauthorized immigrants living in the country is difficult to count accurately, as many of them live in the shadows of our public systems. But according to data from the Institute on Taxation and Economic Policy, unauthorized immigrants in the U.S. paid more than one billion dollars in personal income tax in 2010. […]
September 26, 2014
“Immigrants, regardless of their status, pay taxes in the form of property and sales tax, and other state and federal taxes such as the federal income and payroll taxes,” the report states, noting that even unauthorized immigrants pay sales and excise taxes on their purchases and utility payments. It cites an Institute on Taxation and […]
September 22, 2014
With a regressive tax, “the people who do the best are the very best off,” said Matt Gardner, executive director of the nonprofit, nonpartisan Institute on Taxation and Economic Policy in Washington. “It’s pretty clear that low income families are going to see a tax hike under this,” he said. “The real question is which […]
September 22, 2014
An analysis by the Institute on Taxation and Economic Policy and Policy Matters Ohio, a labor-backed research group, found that when accounting for nearly all tax changes approved in the past two budget bills, about 70 percent of Ohioans will save less than $100 this year. The study found that those with the lowest incomes […]
September 22, 2014
“In Ohio, a separate recent study by the Institute on Taxation and Economic Policy reported that the state’s tax changes since 2005 are giving the richest 1 percent of taxpayers — those with average annual incomes of more than $1 million — a typical tax cut of $20,000 a year. That’s a greater tax cut, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
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