Canadian Taxpayers Federation, Major Penalty for High Taxes: How High Income Taxes Drive NHL Players and Other High-Income Earners to Lower Tax Jurisdictions (press release): A paper co-authored by the Canadian Taxpayers Federation (CTF) and Americans for Tax Reform (ATR) reveals that Montréal, Los Angeles, San Jose and Anaheim are...
When you add up the minimum wage and the Earned Income Tax Credit, Brad DeLong thinks it should add up to a living wage: Of course, minimum-wage advocates are fearful of the following: We say raise the minimum wage, they say increase the earned income tax credit instead. Show More Summary
“We simply must require that every American has some skin in this game," he said of his plan to make everyone owe income taxes. The post Bobby Jindal Wants Huge Tax Break For Corporations And Higher Taxes For The Poor appeared first on ThinkProgress.
Just when you thought Mitt Romney's "47%" comment, which he said was the percentage of Americans dependent on the government and not paying income tax, had made way for a new election cycle's gaffes, that number now needs another revision. Per the Tax Policy Center, the percentage of US households...
THE current issue of The Economist includes an article and leader comparing the property-tax systems in New York and London. Compared with, say, income taxes, property taxes are a dizzyingly complex and woefully under-studied area of public policy, and precious little information about them is available to the public in a digestible form. Show More Summary
It breaks my heart as a fan to say this, but professional sports is business. That's true not just for the owners, who look for ways to squeeze every penny out of their teams, but also for the players. I've ranted and raved and yes, cried like a little girl, as I've watched my favorite players take the money and run to other teams. Show More Summary
There's one thing George Osborne said in his Conference speech this week which looks odd. It's this: We simply can’t subsidise incomes with ever-higher welfare and tax credit bills the country can’t afford. However, recipients of tax credits are part...
How many households will pay no federal income tax in 2015? TPC finds it’s now 45.3 percent, nearly 5 percentage points higher than TPC estimated in 2013. But, as Bob Williams explains, “that doesn’t mean more Americans have moved off...Show More Summary
In User-Friendly Taxpaying, Kathleen Delaney Thomas suggests that tax compliance can be increased if the tax paying process is simplified. She rests the need for change on several unquestionable features of the federal income tax system, features also present in many state and local tax systems. Show More Summary
Tax office to comb through three years of bank accounts to look for undeclared income.
Louisiana Governor Bobby Jindal, trying to revive his ailing Republican presidential bid, will unveil a tax plan on Wednesday whose goal is to make all citizens pay at least some federal income taxes, the Wall Street Journal reported on Tuesday. “If we have generations of Americans who never...
Multinational companies are girding for new rules designed to force them to pay greater corporate income taxes in more countries where they operate.
Spanish prosecutors dropped the charges against Lionel Messi in his tax fraud case on Tuesday that alleges he withheld roughly $5 million in income taxes from 2007 to 2009 from the Spanish government, El Pais reports. Messi’s father Jorge wasn’t so lucky. In the same document in which prosecutors moved to exonerate Messi, prosecutors requested 18 months of prison for the […]
The Tax Policy Center has updated its estimate of the percentage of households that will not pay federal income tax this year. We now figure it is 45.3 percent, nearly 5 percentage points higher than our 2013 estimate of 40.4 percent. Show More Summary
I came across an interesting article focusing on the relationship between tax evasion and income inequality. The article reviews Gabriel Zucman’s The Hidden Wealth of Nations, which attempts to explain a puzzle that I didn’t realize existed. Show More Summary
Yes. This, you might think, qualifies as another in the series “Short Answers to Silly Questions”. But a Brookings Paper study by William G. Gale, Melissa S. Kearney, and Peter R. Orszag reaches the opposite conclusion. (Hat tip: Harry Clarke). The study looks at increasing the top marginal tax rate (currently 39.6, applicable to incomes […]
A huge chunk of your tax dollars every year goes straight into the pockets of crooks. Nearly one in three earned income credits (EIC) is fraudulent. And the numbers keep getting bigger every year according to the Government Accountability Office.Please consider GAO: Feds Made Nearly $1 Trillion in Overpayments Since Fiscal 2003. Show More Summary
Taxation is fairly standard in the United States. Americans know that they must file their taxes by April 15th or face a myriad of penalties. The anticlimactic moment of submitting their tax returns is not very memorable, and for many...Show More Summary
Several questions were posed at a sweepstakes site. Here is another one that caught my attention:Since the prize values are reported as other income I assume the tax rate would be whatever tax bracket you are in and not just the local/state...Show More Summary
On Monday, Donald Trump became just the latest Republican White House hopeful to propose a Treasury-draining, tax cut windfall for the richest Americans. But while Trump calls for slashing the top marginal income tax rates at a timeShow More Summary