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Tax Basics

Who pays taxes? What is stepped-up basis? When is a job creator not a job creator? Learn the essentials of tax policy from Patriotic Millionaires, a group of millionaires who believe they are not being asked to pay enough in taxes. They know all the tricks of the trade that have led to their fortunes […]

Corporate Tax Avoidance in the Trump Years

The Institute on Taxation and Economic Policy (ITEP) made news reporting on the 55 profitable corporations that paid nothing in federal income taxes for 2020. ITEP followed that report by taking a longer look at the three-year period following passage of the Tax Cuts and Jobs Act to find that 39 profitable corporations paid no […]

The Price of Zero

When the Institute on Taxation and Economic Policy revealed that 55 corporations paid zero federal income taxes for 2020, there was understandable anger. How do we allow this? Well, that question was in part answered by Public Citizen who followed that report with their own research detailing how these 55 corporations spent nearly $450 million […]

How Students Pay for Corporate Tax Breaks

When local governments subsidize corporations that move into their communities, students are the ones who pay. Good Jobs First calculated that in sum, 149 school districts lost $1,000 per student in 2019 alone due to these tax abatements. Read the report that details how tax abatements are robbing students of the education they deserve and […]

Taxes and Racial Equity

Historic and current injustices, both in public policy and in broader society, have resulted in vast disparities in income and wealth across race and ethnicity. State and local tax policies interact with this severe inequality in important ways. The Institute on Taxation and Economic Policy provides an overview of how these state and local tax […]

Resources on President Biden's Tax Proposals

President Biden’s Build Back Better agenda includes personal income tax increases on very well-off individuals to finance investments in people—in childcare, education, higher education, reducing child poverty, and other related measures. It also features corporate tax increases to finance investments in physical infrastructure left out of the bipartisan Infrastructure Investment and Jobs Act. This analysis […]

The Payoffs of Child Tax Credit Payments

What happens when families, particularly low-income families, receive an unconditional monthly income supplement? Small demonstration projects show it boosts outcomes on many levels, from improving mental health to securing or maintaining employment. In this discussion on why tax credits like the Child Tax Credit (CTC) expansion are good economic policy, anti-poverty experts discuss why Congress […]

How SALT Cap Repeal Would Mostly Benefit Upper-Income White Families

The 2017 Tax Cuts and Jobs Act, signed by President Trump, capped the deduction for state and local taxes paid (SALT) at $10,000 per year through 2025, after which the cap is scheduled to expire. The cap was undoubtedly a punitive measure designed to bring the cost of their tax giveaway to the rich and […]

American Billionaires By the Numbers

A new website is using Forbes' billionaires data to provide insights into growing wealth inequality, tracking the real-time net worth of U.S. billionaires by state and their growing political influence.