Tax
What Do People Think About Taxes? They Are Partisan, Dazed, And Confused
The newly-published results of an extensive survey of public views on taxes find deep partisan divisions and a widespread lack of understanding about federal taxes.
Read MoreSenate Republican Coronavirus Package Is Undermined by Complexity & Impermanence
The Senate is poised to vote on a coronavirus aid relief package today, which would provide additional funding for individuals, businesses, and states combatting the pandemic. The “Delivering Immediate Relief to America’s Families, Schools, and Small Businesses Act” enters the negotiations as a Senate Republican response to multiple packages proposed by Democrats and Republicans in…
Read MoreRecent Changes in Statutory Corporate Income Tax Rates in Europe
Over the last two decades, corporate income tax rates have declined around the world. Today’s map shows the most recent changes in corporate tax rates in European OECD countries, comparing how combined statutory corporate income tax rates have changed between 2017 and 2020. The average tax rate of all European countries covered has declined from…
Read MoreBiden’s Plan to Address Offshoring Comes with Contradictions
Today, the Biden campaign is set to release its plans for changing U.S. cross-border tax rules. It includes several proposals with the shared goal of increasing taxes on U.S. multinational companies and attracting new investment to the U.S, although there is a tension between those goals. The campaign’s proposals for higher taxes on U.S. businesses…
Read MoreCongress Could Provide Much Needed Assistance By Approving A New Round Of Cash Stimulus Payments
Congress continues to struggle to reach agreement on a new round of economic relief for millions of people suffering from the effects of the coronavirus…
Read MoreDoes Your State Have a Marriage Penalty?
Today’s map zeroes in on states that have a “marriage penalty” in their individual income tax brackets. Under a graduated-rate income tax system, a taxpayer’s marginal income is exposed to progressively higher tax rates. A marriage penalty exists when a state’s income brackets for married taxpayers filing jointly are less than double the bracket widths that…
Read MorePlacing Joe Biden’s Tax Increases in Historical Context
Supporters and critics of Democratic presidential nominee Joe Biden’s tax plan have made a variety of claims about the size of the tax proposals, ranging from “not big enough” to the “biggest tax increase in history.” Comparing his tax proposals—which include higher taxes on high-income earners and businesses paired with more generous provisions for households…
Read MoreFlawed Federal Taxation of Recreational Marijuana
A House vote is expected this month on the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, which would de-schedule marijuana, expunge prior convictions, impose a federal excise tax on marijuana sales, provide access to capital for small marijuana businesses, and allocate revenue to people impacted by prior drug enforcement policies. While it is unlikely to…
Read MoreTax Treaty Network of European Countries
In an increasingly globalized world, many individuals and corporations work and do business abroad. As a result, jurisdictions need to define how income earned in foreign countries is taxed. Otherwise, income could be taxed in more than one country, resulting in double taxation. To avoid this, countries negotiate double tax agreements (DTAs). Tax treaties usually…
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