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High-Income Taxpayers Archive

Are Federal Taxes Progressive? | Taxes & Transfers

TweetShareSharePin0 Shares The Joint Committee on Taxation (JCT) recently released data on taxes paid at various levels of income, indicating the federal tax system is progressive, consistent with similar analysis by the Congressional Budget Office (CBO), and the Organisation for Economic Co-operation and Development (OECD). The JCT found that the bottom 50 percent of taxpayers

Top Personal Income Tax Rates in Europe

TweetShareSharePin0 Shares Most countries’ personal income taxes have a progressive structure, meaning that the tax rate paid by individuals increases as they earn higher wages. The highest tax rate individuals pay differs significantly across European OECD countries—as shown in today’s map. The top statutory personal income tax rate applies to the share of income that

Options to Raise Tax Revenue | Tax Policy Trade-offs

TweetShareSharePin0 Shares As 17th century French finance minister Jean-Baptiste Colbert once said, “Taxation is the art of plucking the goose as to obtain the maximum number of feathers, with the smallest possible amount of hissing.” In Tax Foundation’s new book, Options for Reforming America’s Tax Code 2.0, we modeled 70 possible reforms to the U.S.

Biden’s First 100 Days: Taxes & Tax Policy

TweetShareSharePin0 Shares In his first 100 days as president, Joe Biden has proposed more than a dozen significant changes to the U.S. tax code that would raise upwards of $3 trillion in revenue and reduce incentives to invest, save, and work in the United States. While proposing ways to pay for new spending and for

a 61% Tax on Wealth? Tax Foundation

TweetShareSharePin0 Shares As part of President Joe Biden’s American Families Plan (AFP), the White House yesterday proposed two major tax increases on accumulated wealth, adding to a 61 percent tax on the wealth of high-earning taxpayers. First, the American Families Plan would tax unrealized capital gains at death for unrealized capital gains worth over $1 million.

Tax Fairness, Economic Growth, and Funding Government Investments

TweetShareSharePin0 Shares Note: The following is the testimony of Scott A. Hodge, President of the Tax Foundation, prepared for the Senate Finance Committee (Subcommittee on Fiscal Responsibility and Economic Growth of the Committee on Finance) for a hearing on April 27, 2021, titled, “Creating Opportunity Through a Fairer Tax System.” Thank you, Madame Chairman, ranking
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