federal taxes Archive
Tax Justice Network Arabic podcast #54: كارتيل البنوك في تونس: أثرياء الحرب في زمن البؤس
June 7, 2022
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TweetShareSharePin0 Shares Welcome to the 54th edition of our Arabic podcast/radio show Taxes Simply الجباية ببساطة contributing to tax justice public debate around the world. It’s produced and presented by Walid Ben Rhouma and is available on most podcast apps. Any radio station is welcome to broadcast it for free and websites are also welcome to share it. You can follow
The Tax Justice Network’s French podcast: Lancement en Afrique du l’Indice d’Opacité Financière 2022 : L’urgence d’un système fiscal international sous l’égide des Nations Unis #40
June 7, 2022
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TweetShareSharePin0 Shares Welcome to our monthly podcast in French, Impôts et Justice Sociale with Idriss Linge of the Tax Justice Network. All our podcasts are unique productions in five different languages every month in English, Spanish, Arabic, French, Portuguese. They’re all available here and on most podcast apps. Here’s our latest episode: Le mois de mai 2022 a été marqué par la publication par Tax Justice
Tick-Tock Goes The Budget Clock…
June 7, 2022
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TweetShareSharePin0 Shares Democrats continue negotiations on a budget bill. There’s still no deal in sight, though talks continue between Senate Democratic Leader Chuck Schumer and holdout colleague Joe Manchin, who says fighting inflation now is his top priority. Roll Call reports that “the passage of time may not have increased [fellow holdout Kyrsten] Sinema’s fondness
Does Your State Have a Gross Receipts Tax?
June 7, 2022
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TweetShareSharePin0 Shares Today’s map looks at which states levy a gross receipts tax, which is often considered one of the most economically damaging taxes. Shifting from state gross receipts taxes would represent a pro-growth change to make tax codes friendlier to businesses and consumers alike, which is especially necessary in an increasingly mobile economy. Gross receipts
Global tax deal delayed
June 7, 2022
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TweetShareSharePin0 Shares Despite initial optimism regarding an international deal he called “historic and very important,” the secretary-general of the Organization for Economic Cooperation and Development (OECD) informed attendees at Davos that a hoped-for global tax deal would be delayed until 2024 at the earliest. Mathias Cormann attributed the timeline shift to many “difficult decisions,” including
Widow Finds $36,000 In Free Chair, What Are the Tax Rules?
June 7, 2022
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TweetShareSharePin0 Shares Mid-60s widow, Vicky Umodu, recently relocated to Colton, California, a town in San Bernardino County, to be closer to her daughter and grandchildren. To furnish her new home, Umodu began scouring the internet for good deals. Per a Washington Post report shared above, she thought she’d “hit the jackpot” when she ran across
What Accounts For Booming Tax Receipts?
June 6, 2022
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TweetShareSharePin0 Shares Individual income tax payments may soon break a record. The Wall Street Journal reports (paywall) on the surge in individual income tax payments, which the Congressional Budget Office projects will reach $2.6 trillion in the fiscal year ending Sept. 30. Much of the growth comes from taxes on capital gains and pass-through business
The Booming Economy, Not The 2017 Tax Act, Is Fueling Corporate Tax Receipts
June 3, 2022
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TweetShareSharePin0 Shares Corporate tax revenues boomed in 2021 and some supporters of the 2017 Tax Cuts and Jobs Act argue that the big tax reductions in the bill deserve the credit (Wall Street Journal, Goodspeed and Hassett). But there is a much better explanation: Last year’s strong economic growth, high inflation, and pandemic-related relief legislation
New GAO Report Underscores Importance of Better Data To Study Race and Taxes
June 2, 2022
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TweetShareSharePin0 Shares While the federal income tax system may appear “colorblind” or race-neutral to some, it can mitigate or exacerbate racial inequities. A new Government Accountability Office (GAO) report explains why better data is necessary to allow for a more complete understanding of the tax system’s impacts. The IRS does not collect data on tax
Should Congress Raise Taxes To Fight Inflation?
June 2, 2022
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TweetShareSharePin0 Shares In a Monday Wall Street Journal column (paywall), President Biden urged Congress to help fight inflation by raising tax rates on the very wealthy and using the money to reduce the deficit. Does that strategy make sense in today’s economic environment? At least in theory, raising taxes could ease inflation. But not necessarily
