Mississippi
WTOK News Center: Mississippi tax code getting scrutiny
October 14, 2016
“But check out a chart from the Institute on Taxation and Economic Policy. It’s all about state and local taxes. On one end is the lowest income families in the state. The wealthiest are at the other. The less you make, the bigger percentage of your income that’s going to taxes.” Read more
DJournal: Mississippi’s poor pay more in taxes
October 13, 2016
“‘The state’s low- and middle-income earners paid nearly double the percentage of their income in taxes compared to the state’s highest income families,’ Donovan wrote in a report compiled for the legislators, basing her findings on a 2015 study by the Washington, D.C.-based Institute of Taxation and Economic Policy.”
Forbes: Is The Best Tax Cut Of The Year Out Of Mississippi?
June 3, 2016
“The tax cutting in Mississippi didn’t stop with the franchise tax. The measure signed by the governor also significantly reduced personal income taxes. Basically, the state will exempt the first $10,000 of earnings from income tax. This will, as my friends at the Institute on Taxation and Economic Policy (ITEP) point out, skew the benefits […]
The Clarion Ledger: Bryant signs largest tax cut in Mississippi history
May 16, 2016
“Like most other proposed income tax cuts, benefits from the Mississippi plan would flow most to high-earning households. Projections from the liberal-leaning Institute on Taxation and Economic Policy show the lowest-earning 20 percent of taxpayers, making $16,000 or less, would save an average of $14 a year. Those earning in the top 95 percent to […]
Hope Policy Institute: Who Really Benefits: Why Large Tax Cuts Don’t Benefit Working Families and Communities
May 5, 2016
“Large tax reductions proposed at a time when Mississippi already is cutting important public investments due to a lack of revenue would erode the state’s ability to create jobs and have a competitive economy. Over the past two years major tax cut proposals have been proposed that would cut and flatten the state’s income tax […]
The Commercial Appeal: Mississippi tax cut deal: $415 million in cuts over 12 years
April 19, 2016
“Like most other proposed income tax cuts, benefits would flow most to high-earning households. Projections from the liberal-leaning Institute on Taxation and Economic Policy show the lowest-earning 20 percent of taxpayers, making $16,000 or less, would save an average of $14 a year. Those earning in the top 95 percent to 99 percent of households, […]
Sun Herald: Reeves, senators renew push for $575 million in tax cuts
March 15, 2016
“Like most other proposed income tax cuts, benefits would flow most to high-earning households. Projections from the liberal-leaning Institute on Taxation and Economic Policy for last year’s proposal showed the lowest-earning 20 percent of taxpayers, making $16,000 or less, would save an average of $13 a year. Those earning in the top 95 percent to […]
The Sun Herald: PAUL HAMPTON: Where the rubber meets the yellow brick road
February 8, 2016
The Institute on Taxation and Economic Policy, a nonpartisan think tank, did a study that wrapped up in 2013 when it was presented to the National Council of State Legislatures. The short version: — Incentives are rarely the deciding factor — The money from the incentives won’t all stay in the state — Incentives […]
Clarion Ledger: ‘Tax shift’ for roads: Will it favor rich?
December 22, 2015
“Income tax reductions also fall unevenly, because many low-income households pay little or no income taxes. A plan to phase out income taxes on incomes under $18,300 proposed last year would have been more beneficial to the highest earning households. The lowest-earning 20 percent of taxpayers, making $16,000 or less, would have saved an average […]
NBC: Sales Tax Holidays Complex, Controversial, But Popular With Shoppers
July 28, 2015
Research by the nonpartisan Institute on Taxation and Economic Policy contends that increased sales during the tax holidays “have been shown to be primarily the result of consumers’ shifting the timing of their planned purchases.” That organization estimates sales tax holidays will cost states $300 million in 2015. “A two- to three-day sales tax holiday […]
Sun Herald: Sales Tax Holiday Weekend Arrives July 31
July 27, 2015
“The Institute on Taxation and Economic Policy in Washington, D.C., believes sales tax holidays are poorly targeted, providing tax breaks to the wealthiest taxpayers and offering less assistance to the elderly or families without children who don’t have back-to-school needs. The Institute also said many low-income taxpayers spend most or all of their money on […]
CNBC: Tax-Free Shopping Ahead for These States
July 24, 2015
Research by the nonpartisan Institute on Taxation and Economic Policy, however, contends that increased sales during the tax holidays “have been shown to be primarily the result of consumers’ shifting the timing of their planned purchases.” That organization estimates sales tax holidays will cost states $300 million in 2015. “A two- to three-day sales tax […]
Daily Leader: Sales Tax Holiday Presents Dilemma
July 20, 2015
“Sales tax holidays are advertised as a way to give people a break from paying the sales tax, typically during the “back to school” shopping season. Superficially this sounds good, however, many tax and economic experts and officials believe the benefits are minimal. They say public officials cash in more on the good publicity than […]
Huffington Post: How Some States Are Trying To Fix Their Crumbling Infrastructure
July 6, 2015
Carl Davis, research director at the Institute on Taxation and Economic Policy, said efforts to raise state taxes to pay for roads and bridges exploded this year. In 2013 and 2014, four states (Massachusetts, New Hampshire, Vermont and Wyoming) increased their gas taxes, while Maryland, Pennsylvania and Rhode Island indexed the gas tax to either […]
Mississippi Economic Policy Center: All Roads Lead to Nowhere
March 25, 2015
Big tax cuts that largely benefit corporations and wealthy Mississippians are unaffordable and will erode our ability to support schools, universities, roads and bridges and public safety. Big tax cuts will undermine our future by making it harder for the state to invest in the things that make Mississippi’s working families more productive like a […]
Mississippi Economic Policy Center: House and Senate Tax Plans Do Little for Struggling Working Families
March 6, 2015
The personal income tax cuts from both the [state] House and Senate plans benefit wealthier families more than lower and middle-income earners. Further, the high cost of these plans may require raising revenue through increases in the property tax or sales tax, both of which hit lower and middle-income earners hard. This combination would result […]
Mississippi Economic Policy Center: A State Earned Income Tax Credit: A Boost for Mississippi Families
January 29, 2015
Mississippi families are struggling to make ends meet despite working hard and playing by the rules. The federal Earned Income Tax Credit (EITC) gives many of these families the boost they need to be more financially secure. Mississippi can also enact a refundable state EITC to leverage the federal credit’s track record of encouraging work, […]
Jackson Clarion Ledger: Poor’s Tax Burden High
January 20, 2015
With Gov. Phil Bryant’s push for a tax cut this legislative session as context, the Institute on Taxation and Economic Policy has released a report that says the tax rate as a percentage of income for poor Mississippians is twice that for the state’s wealthy. The study by Washington, D.C.-based ITEP found lower-income Mississippians pay […]
Forbes: Mississippi’s Good Idea to Help the Poor
December 12, 2014
The Bryant proposal isn’t perfect. A refundable credit would be better. As the folks at the Institute on Taxation and Economic Policy have noted, Bryant’s plan would provide relief to about 9 percent of low-income taxpayers. But a refundable credit would reach 45%. Moreover, the credit would kick in only if state tax revenues increase […]
Jackson Clarion Ledger: A Mississippi sales-tax holiday primer
July 26, 2013
(Original Post) If you’re looking to save money on many kinds of clothing and footwear – but not school supplies – then the next two days are for you. Friday and Saturday will mark this year’s installment of Mississippi’s sales tax holiday, in which the state’s 7 percent sales tax will be generally waived on […]
Jackson Clarion Ledger: Drastically differing views on this weekend’s sales tax holiday
July 26, 2013
(Original Post) Mississippi’s annual “sales tax holiday” for clothing and footwear begins Friday, aimed primarily at helping parents with back-to-school purchases. I’ve received two correspondences on the holiday, one from a group saying it’s great, another saying it’s not. The Mississippi chapter of the National Federation of Independent Businesses says it’s “a big help to […]
Mississippi Economic Policy Center: Investing for Growth, Enhancing Our Prospects: Tax Reform in Mississippi
January 15, 2013
In any given year, the state of Mississippi and its residents accomplish a lot. Through the collective investment of our tax dollars, we maintain over 10,000 miles of roads, help educate more than 800,000 children and adults from kindergarten to university and support more than 7,000 law enforcement officers in our local communities. With tax […]
Mississippi Economic Policy Center: Putting the Pieces Together: A Taxpayer’s Guide to the Mississippi Budget
January 14, 2013
Budget decisions directly influence the quality of education that our children receive, the condition of the roads that we travel, the safety of our communities and the level of trust we can place in professionals such as doctors, dentists, pharmacists and nurses. Of course, each of these services – education, roadmaintenance and public safety – […]
Mississippi Economic Policy Center: Thank Taxes- Tax Day 2011
January 14, 2013
Everyone who gets a paycheck pays payroll taxes. Everyone who buys anything at a local store or fills up their car with gas pays taxes. Individuals and businesses alike, benefit from the public structures paid for by taxes. The figure below shows the estimated share of state and local taxes as a percentage of income […]
Clarion Ledger: Time for new revenue? Tax advocates seek to ‘balance’ budget cuts
January 4, 2013
(PDF of Original Post) Ed SivakClarion-Ledger Contributing Columnist With each passing round of information updating the state’s fiscal outlook, the goal of building a Mississippi with quality schools, state-of-the-art transportation and safe communities appears to be more out of reach than it was before the recession. By 2012, Gov. Haley Barbour projects that the budget […]
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