federal taxes Archive
Top Personal Income Tax Rates in Europe
May 6, 2021
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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
Delaying Required IRA Distributions Again Would Largely Help Only The Wealthy
May 5, 2021
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TweetShareSharePin11 Shares The House Ways & Means Committee is once again tinkering with the law that requires retirees to take minimum distributions from their individual retirement accounts (IRAs) and 401(k)s. Each time, Congress eases the required minimum distribution (RMD) rules at great cost to the federal government. Yet the beneficiaries would overwhelmingly be wealthy retirees
What Location Matters Can Tell Us About State Tax Competitiveness
May 5, 2021
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TweetShareSharePin0 Shares Don’t expect data centers to blossom in the plains of Kansas: a new data center’s effective tax rate in the state is 21 times what would be paid by a new manufacturer with similar profits. In the median state, that data center would face only one-quarter the tax burden it does in Kansas.
If You Can’t Stand The Heat…
May 5, 2021
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TweetShareSharePin0 Shares Treasury Secretary Yellen: Threading the needle on inflation. Source link TweetShareSharePin0 Shares
Should Government Use Tax Incentives to Encourage People to Get The COVID-19 Vaccine?
May 5, 2021
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TweetShareSharePin0 Shares Tax incentives can encourage action that supports the public good—like lifting children out of poverty, giving to charity, pursuing higher education, or using alternatives to fossil fuels. How about helping end a global pandemic? COVID-19 has weakened economies and killed more than 3.1 million people worldwide, with over 575,000 deaths in the US
The State Tax Costs of Doing Business
May 5, 2021
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TweetShareSharePin0 Shares Note: A landmark comparison of corporate tax costs in all 50 states, Location Matters calculates and analyzes the tax burdens of eight model firms: a corporate headquarters, a research and development facility, a technology center, a data center, a shared services center, a distribution center, a capital-intensive manufacturer, and a labor-intensive manufacturer. Each
Kansas Tax Reform Passes: Outlier No More
May 4, 2021
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TweetShareSharePin0 Shares Legislators in Kansas have had enough of their state being a tax policy outlier. After three years of deliberations, more than two-thirds of members in both the Senate and the House enacted tax reform and relief legislation Monday over the veto of Gov. Laura Kelly (D). Senate Bill 50 puts the state on
25 Percent Corporate Income Tax Rate?
May 4, 2021
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TweetShareSharePin0 Shares Some lawmakers have expressed concerns about President Biden’s proposal to raise the federal corporate income tax rate from 21 percent to 28 percent, and instead suggest raising the rate to 25 percent. Including state corporate taxes, a 25 percent federal corporate income tax rate would result in a combined average top corporate tax
Gaps, Surpluses, And A Retreat
May 4, 2021
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TweetShareSharePin0 Shares McConnell: No to $4 trillion but maybe yes to $600 billion. Source link TweetShareSharePin0 Shares
Options to Help Low-Income Households
May 4, 2021
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TweetShareSharePin0 Shares In our new book, Options for Reforming America’s Tax Code 2.0, we illustrate the economic, distributional, and revenue trade-offs of 70 tax changes, including several that would boost the incomes of poor households specifically. Below we evaluate some options that would provide the largest direct relief to low-income taxpayers but would have little
