Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, added that regardless of imports volume, we don’t know how they will get passed through by the companies paying them, either. And not everyone has to pay them — consumers could simply redirect their demand.
Matthew Gardner
Matt Gardner is a senior fellow at ITEP where he has worked since 1998. He previously served as ITEP’s executive director from 2006 to 2016. Matt’s work focuses on federal, state and local tax systems, with a particular emphasis on the impact of tax policies on low- and moderate-income taxpayers. He uses ITEP’s microsimulation model to produce economic projections and analyses on the effects of current and proposed federal and state tax and budget policies.
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media mention October 12, 2018 PolitiFact: Do Trump Tariffs Cost More Than Affordable Care Act Taxes?
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media mention October 12, 2018 WBOC16: Incorporating in Delaware: The Perks and Pitfalls
Some critics of Delaware LLCs say until Delaware’s corporate code is adjusted, criminal activity will continue to exist in Delaware’s corporations. Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, authored a report entitled “Delaware: An Onshore Tax Haven.”
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media mention September 14, 2018 The Inquisitor: Amazon Proposal to Cage Warehouse Workers Criticized
“For states contemplating tax incentives for Amazon, the salient question is: what do you give a tax avoider who already has everything?,” Matthew Gardner, senior fellow at Institute on Taxation… -
media mention August 22, 2018 KPFA: US Treasury Sec Mnuchin Is Planning a $100 Billion Tax Cut for the Wealthy
This would very likely be the largest regulatory tax cut in history. While there’s an important place for Treasury regulations in clarifying Congressional intent, that’s not what this is… It’s… -
media mention July 30, 2018 The Tennessean: Where Are The Tax Cuts Going?
So where has the money gone? Many companies won’t say or are scant on specifics. Several publicly traded companies in Tennessee have issued press releases announcing bonuses or minimum wage increases, but… -
media mention July 23, 2018 Washington Post: IRS Outsources Debt Collection to Private Firms, and the Poor Feel the Sting
“The private firms appear, at least in some cases, to be ignoring this constraint,” said Matt Gardner, an analyst at the left-leaning Institute on Taxation and Economic Policy. “When they… -
media mention July 11, 2018 New York Times: $111 Billion in Tax Cuts for the Top 1 Percent
Think of it this way: Income inequality has soared in recent decades, with the wealthy pulling away from everyone else and the upper-middle-class doing better than the working class or… -
media mention July 11, 2018 Yahoo! Finance: The Steep Cost of Tax Cuts Since 2001
Tax cuts enacted since the turn of the 21st century have added nearly $6 trillion to the deficit while disproportionately benefiting wealthy households, according to a new study from the… -
media mention June 29, 2018 American Prospect: The Two Biggest Lies in Donald Trump’s Tax Plan
Following is an excerpt from an essay in the American Prospect by ITEP Senior Fellow Matt Gardner: Despite a full-court charm offensive by the White House, its media surrogates, and… -
media mention June 20, 2018 Reuters: How U.S. Tax Reform Rewards Companies that Shift Profit to Tax Havens
“If the guardrails in the new territorial system were meant to prevent companies from avoiding all taxes, AbbVie’s (tax rate) is a pretty clear signal that these guardrails may not… -
media mention June 20, 2018 USA Today: After Losing Fight to Levy ‘Amazon tax,’ Seattle Is Back to Square One on Helping Homeless
The construction pause “was a concrete action as opposed to just a threat,” said Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, a nonpartisan, nonprofit in Washington,… -
media mention May 25, 2018 Politifact: Scott Dawson distorts Alabama Gov. Kay Ivey’s Grant Funding
But Matt Gardner, senior fellow at the Institute on Taxation and Economic Policy, said there is a distinction between tax dollars and taxpayer dollars. “User fees are, technically, not ‘tax… -
media mention May 16, 2018 USA Today: Amazon Tax over Head Tax Foreshadows Battles to Come in other Cities
In Washington state, neither state or local government are allowed to tax income. In addition, state law caps real estate tax increases to no more than 1% a year. “It’s… -
media mention May 8, 2018 Seattle Post-Intelligencer: How Seattle’s Amazon avoids paying taxes
Amazon effectively paid no U.S. income taxes in 2017, according to an analysis by the Institute on Taxation and Economic Policy. Meanwhile, the company reported a staggering $1.9 billion in profits in… -
media mention May 3, 2018 Politifact: Bernie Sanders Says Amazon Paid no Federal Income Tax in 2017. He’s Right
The trick for companies? They get to write off the value at which the stock was later traded, not the original price for which they sold their stock to employees.… -
blog May 2, 2018 Apple’s Three-Month Tax Savings under President Trump’s New Tax Law: $1.68 Billion
By now, it should come as no shock that profitable Fortune 500 corporations are reaping huge benefits from the corporate tax cuts enacted last December. But as first quarter earnings reports are released, we’re learning just how big.
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media mention April 29, 2018 Detroit Free Press: Trump’s Tax Law Saves These Companies Millions
For example, embattled Wells Fargo saved $662 million off its tax bill during the first three months of 2018. Those tax savings promise to quickly wipe out the $1-billion fine the… -
blog April 26, 2018 15 Companies Report Tax Savings of $6.2 Billion in First Three Months of 2018
In reports released over the past week, covering the first three months of 2018, a few of the biggest and most profitable Fortune 500 corporations acknowledge receiving billions in tax cuts in the first quarter of 2018 alone. Fifteen of these companies collectively disclosed reducing their effective tax rates by $6.2 billion compared to the rates they faced in the first quarter of last year.
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media mention April 15, 2018 The Street: Is President Trump’s Beef with Amazon Justified
Matthew Gardner, a senior fellow with the Institute on Taxation and Economic Policy, added that Amazon aggressively fought off calls for years that it start collecting such taxes. Avoiding collection… -
report April 12, 2018 Many Large Corporations Reporting Tax Cut-Inspired Employee Bonuses Were Paying Low Tax Rates to Begin With
Since the corporate tax cut took effect at the beginning of 2018, a number of large corporations have announced plans to give bonuses or pay raises to some of their employees. Some of these companies have explicitly said that the new tax law, which sharply reduced the federal corporate income tax rate from 35 to 21 percent, made these moves possible. But an examination of the tax-paying habits of these corporations found that many of them used various tax breaks and accounting maneuvers to reduce their tax rates to below 21 percent year after year before the new tax law passed.
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report April 11, 2018 Fifteen (of Many) Reasons We Need Real Corporate Tax Reform
This ITEP report examines a diverse group of 15 corporations’ federal income tax disclosures for tax year 2017, the last year before the recently enacted tax law took effect, to shed light on the widespread nature of corporate tax avoidance. As a group, these companies paid no federal income tax on $24 billion in profits in 2017, and they paid almost no federal income tax on $120 billion in profits over the past five years. All but one received federal tax rebates in 2017, and almost all paid exceedingly low rates over five years.
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report April 10, 2018 Extensions of the New Tax Law’s Temporary Provisions Would Mainly Benefit the Wealthy
This analysis finds that extending the temporary tax provisions in 2026 would not be aimed at helping the middle-class any more than TCJA as enacted helps the middle-class in 2018.
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media mention April 6, 2018 Associated Press: Amazon Ignores Trump’s Attacks as It Molds a Business Empire
Trump’s charge that Amazon pays “little or no taxes” may have merit. Matthew Gardner, a senior fellow at the left-leaning Institute on Taxation and Economic Policy, said in February that… -
April 5, 2018 Washington Times: Andrew Cuomo complains about tax breaks for wealthy — then signs off on N.Y. loopholes
Matthew Gardner, a senior fellow at the left-leaning Institute on Taxation and Economic Policy, said this appears to be another example of wealthy Americans “gaming” the tax system through special… -
media mention April 4, 2018 MarketWatch: Trump Is Jealous Amazon Is Better at Avoiding Taxes
In 2017, Amazon paid no federal tax on $5.6 billion in U.S. profits, according to an analysis by Matthew Gardner at the Institute on Taxation and Economic Policy. During the…