Month: April 2007

April 26, 2007 03:16 PM | Permalink |

Taxes continue to take up a relatively small part of American economic output, according to data compiled by Citizens for Tax Justice from the Organization for Economic Cooperation and Development, the U.S. Treasury and the U.S. Census. For example, in all but two OECD countries, taxes make up a larger percentage of gross domestic product (GDP) than in the United States.

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April 16, 2007 03:47 PM | Permalink |

Wal-Mart appears to be skipping out on its fair share of taxes that most Americans have to pay to help support state governments. New research conducted in part by a leading non-partisan, non-profit tax organization reveals that Wal-Mart avoided $2.3 billion in state income taxes, cutting its payment to state governments almost in half between 1999 and 2005:

• Over those seven years, Wal-Mart reported $77.4 billion in pretax U.S. profits to its shareholders. But it reported a total state income tax bill of only $2.4 billion, just 3.16% of those profits.
• Had Wal-Mart paid taxes at the statutory state corporate tax rates for the same period, it would have paid $4.7 billion in state income taxes.

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April 9, 2007 12:54 PM | Permalink |

Taxpayers Likely to Pay the AMT in Tax Year 2007 Under Current Law, By State

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April 2, 2007 02:09 PM | Permalink |

Republican critics of the budget resolutions recently passed in the U.S. Senate and House of Representatives have claimed that the congressional budget bills include tax increases. This is false. For better or worse, the resolutions do not raise taxes by a penny.

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