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The most recent data from the Organization for Economic Cooperation and Development (OECD) show that the United States is one of the least taxed of the developed nations.
The U.S. Supreme Court is scheduled to consider a case next week (South Dakota v. Wayfair, Inc.) that has the potential to significantly improve states and localities’ ability to enforce their sales tax laws on Internet purchases.
What to Expect if the Supreme Court Allows for Online Sales Tax Collection
April 11, 2018 • By Carl Davis
Online shopping is hardly a new phenomenon. And yet states and localities still lack the authority to require many Internet retailers to collect the sales taxes that their locally based, brick and mortar competitors have been collecting for decades.
A Paul Ryan Retrospective: A Decade of Regressive Budget and Tax Plans
April 11, 2018 • By ITEP Staff
As Speaker of the House, Rep. Paul Ryan pushed through the Tax Cuts and Jobs Act that will cost at least $1.5 trillion and provide around half of its benefits to the richest five percent of households. He then announced that Congress needs to cut entitlements to get the budget deficit under control. Before becoming Speaker, Ryan spent several years running the Budget Committee and the Ways and Means Committee, where he issued budget and tax plans each year to carry out his goals (lower taxes for the rich and cuts in entitlement spending), which are described in the reports…
Fifteen (of Many) Reasons We Need Real Corporate Tax Reform
April 11, 2018 • By Matthew Gardner
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.
America’s tax system overall is marginally progressive. The share of all taxes paid by the richest Americans slightly exceeds their share of the nation’s income. Conversely, the share of all taxes paid by the poorest Americans is slightly smaller than the share of the nation’s income going to that group.
New ITEP Report: Extension of the Temporary TCJA Provisions Would Be Just as Regressive as TCJA Itself
April 10, 2018 • By Steve Wamhoff
A new ITEP report estimates the impacts in every state of the much-discussed idea of extending the temporary provisions in the Tax Cuts and Jobs Act, which will expire after 2025 without further action from Congress. The report concludes that extending or making permanent these provisions would be just as skewed to the wealthy as the original law.
Extensions of the New Tax Law’s Temporary Provisions Would Mainly Benefit the Wealthy
April 10, 2018 • By Matthew Gardner, Steve Wamhoff
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.
Is the Trump Organization’s Sales Tax Avoidance More Aggressive Than Amazon’s?
April 6, 2018 • By Carl Davis
In recent weeks, President Trump has been raking Amazon over the coals for failing to collect state and local sales taxes on many of the company’s sales—a criticism that has some merit. But a new story first reported by James Kosur at RedStateDisaster, and then picked up today by the Wall Street Journal, provides fascinating insight into the sales tax collection habits of the Trump Organization’s “official retail website,” TrumpStore.com.
This week, Kentucky legislators passed a bill shifting taxes onto low- and middle-income families, Oklahoma legislators reached a deal on education funding, and their counterparts in Kansas proffered multiple proposals for their education funding needs. Meanwhile, tax debates are coming down to the wire in Iowa, Missouri, and Nebraska, and responses to the federal tax-cut bill were settled on in Maryland, New York, and Wisconsin.
Passing the Buck: Forcing Spending Cuts through a Balanced Budget Amendment
April 5, 2018 • By Ronald Mak
House leaders are preparing a vote on a balanced budget amendment next week that could force massive spending cuts and restrict the ability of lawmakers to raise revenue. Although a balanced budget amendment will likely be pitched as a way to address our nation’s long-term fiscal challenges, such proposals are economically harmful, ineffective, and one-sided.
Trends We’re Watching in 2018, Part 4: Tax Cuts & Tax Shifts
April 4, 2018 • By Lisa Christensen Gee
While a lot of tax activities in the states this year have focused on figuring out the impact of federal tax changes on states' bottom lines and residents, there also have been unrelated efforts to cut state taxes or shift from personal income taxes to more regressive sales taxes.
Cities Fail to Disclose Tax Incentives in Bids for Amazon’s HQ2
April 3, 2018 • By Guest Blogger
The Amazon HQ2 project would be the biggest in U.S. history as measured in projected jobs, yet little is known about the incentives cities have offered Amazon to lure its second headquarters. This lack of disclosure prevents public participation in the deal, including raising important questions about whether tax incentives that cities are offering are in the best short- and long-term interest of their residents. This is the main finding of Public Auction, Private Dealings: Will Amazon’s HQ2 Veer to Secrecy Create A Missed Opportunity for Inclusive, Accountable Development?, a Good Jobs First study released today.
Teachers’ Strikes Are Emblematic of Larger Tax Challenges for States
March 30, 2018 • By Meg Wiehe
As other researchers as well as journalists have noted, teachers striking or threatening to strike over low wages and overall lack of investment isn’t simply a narrative about schools and public workers’ pay. It is illustrative of a broader conflict over tax laws and how states and local jurisdictions fund critical public services that range from K-12 education, public safety, roads and bridges, health care, parks, to higher education.
President Trump’s latest Twitter target, the Amazon Corporation, is now under the microscope for its state and local tax avoidance. In a Thursday tweet, the President claimed that “[u]nlike others, they pay little or no taxes to state & local governments.” Such a statement is a startling reversal for a president who previously said his own ability to avoid paying income taxes “makes me smart.”
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