April 2010 Archives

Limiting Tax Expenditures Must Be a Part of Congress's Efforts to Balance the Budget

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A great deal of government "spending" is done through the tax code in the form of special breaks and loopholes known as tax expenditures. The figures in the report illustrate that tax expenditures are a significant portion of federal spending and cannot be ignored as Congress addresses the budget deficit.

Read the report.

 

 

 

 

 

 

 


Loopholes for Wealthy Owners of "Subchapter S Corporations" Will Not Help "Small Businesses"

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The National Association of Manufacturers (NAM) has recently argued that President Obama’s proposal to allow the Bush income tax cuts to expire for the richest two percent will hurt small business employment because many small businesses are organized as “subchapter S corporations.”

The reality is that only 2.1 percent of small business taxpayers both (a) are rich enough to lose their Bush tax cuts under President Obama’s proposals, and (b) receive most of their income from an S corporation that they own. Further, S corporations are not necessarily as “small” as many people assume.

Read the report.

 

All Americans Pay Taxes

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Click Here for the 2013 Edition of this Report

Conservative pundits and media outlets have seized upon an estimate that 47 percent of taxpayers owe no federal income tax for 2009. This statistic has morphed into the claim by conservatives that “47 percent of all Americans don’t pay any taxes.” The conservative pundits are wrong. It’s true that many taxpayers don’t pay federal income taxes, but they still pay federal payroll taxes (and some federal excise taxes) and also pay state and local taxes. Most of these other taxes are regressive, meaning they take a larger share of a poor or middle-class family’s income than they take from a rich family.

Read the report.

 

 

 

 

 

 

 

 

President Obama Cut Taxes for 98 Percent of Working Americans in 2009

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CTJ has new state-specific reports that aim to clear up this widespread misunderstanding over President Obama's tax policies. They show that the President cut taxes for working people at all income levels for 2009 and they show who was helped by each individual tax break.

Read the fact sheet and the report for your state.

 

 

 

 

 

 

 


Who's Complaining about Health Care Reform? (And What Do They Pay in Taxes?)

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A new analysis from CTJ shows that many of the companies protesting a tax-loophole-closing reform enacted in the new health care reform law are paying corporate taxes at less than a third of the 35 percent statutory corporate tax rate, and in some cases are actually getting tax rebates back from the federal government.

Read the report.

 

 

 

 

 

 

 

 

 



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