February 14, 2013 12:18 PM By Citizens for Tax Justice Staff | Permalink | Last year at this time, CTJ predicted, based on Facebook’s IPO paperwork, the company would get a federal tax refund in 2012 approaching $500 million, and the company’s SEC filing this month tells us we were right: Facebook is reporting a […]
February 14, 2013 11:41 AM By Institute on Taxation and Economic Policy Staff | Permalink | Note to Readers: This is the fourth of a six part series on tax reform in the states. Over the coming weeks, The Institute on Taxation and Economic Policy (ITEP) will highlight tax reform proposals and look at the policy […]
February 13, 2013 04:19 PM By Citizens for Tax Justice Staff | Permalink | During his State of the Union Address, President Barack Obama reiterated the principle that the United States must prioritize getting rid of tax loopholes for the wealthiest individuals and most profitable corporations in order to ensure that everyone is paying their […]
February 13, 2013 12:32 PM By Citizens for Tax Justice Staff | Permalink | For months, Idaho lawmakers have been seriously considering repealing the personal property tax on business equipment. If enacted, repeal would cost local governments and public schools over $140 million a year, and would likely force cuts in public services and increases […]
February 12, 2013 03:25 PM By Citizens for Tax Justice Staff | Permalink | We can probably expect the President’s first State of the Union address since being re-elected to include yet another plea to his Congressional adversaries to just be reasonable and meet him somewhere between his already compromised position and their Tea Party-enforced […]
February 12, 2013 02:10 PM By Institute on Taxation and Economic Policy Staff | Permalink | The Cleveland Plain Dealer published a new analysis of Ohio Governor Kasich’s “tax swap” plan that “suggests lower and middle income families would not do as well as higher earners under the new system.” The Plain Dealer notes that […]
February 11, 2013 12:00 PM By Citizens for Tax Justice Staff | Permalink | In recent months, Google, Inc. has come under fire by Britain’s parliament for its alleged use of “immoral” offshore tax dodges as well as by French authorities (Google’s history of shifting income to offshore jurisdictions, aka tax havens, is well documented). […]
February 8, 2013 02:02 PM By Citizens for Tax Justice Staff | Permalink | Wisconsin Governor Scott Walker’s Secretary of Administration, Mike Huebsch, caused a kerfuffle recently when he said that the Governor “is considering” eliminating the state’s income tax and replacing the revenue with a larger sales tax. This is not a new concept, […]
February 7, 2013 03:37 PM By Citizens for Tax Justice Staff | Permalink | A bill introduced in Congress today called the Corporate Tax Dodging Prevention Act would end “deferral,” the most problematic break in the U.S corporate income tax. The bill would repeal the rule allowing U.S. corporations to “defer” (delay indefinitely) paying U.S. […]
February 7, 2013 02:01 PM By Citizens for Tax Justice Staff | Permalink | Citizens for Tax Justice has a new online calculator that will tell you what you’d pay in federal taxes in 2013 under three different hypothetical scenarios: 1) Congress did nothing during the New Year and allowed the “fiscal cliff” to take […]
February 6, 2013 04:30 PM By Institute on Taxation and Economic Policy Staff | Permalink | Note to Readers: This is the third of a six part series on tax reform in the states. Over the coming weeks, The Institute on Taxation and Economic Policy (ITEP) will highlight tax reform proposals and look at the […]
February 6, 2013 01:00 PM By Kelly Davis, Assistant Director of Communications | Permalink | Last month, Kansas Governor Sam Brownback proposed, for the second straight year, major tax changes during his State of the State speech. These new changes include lowering the state’s two tax bracket rates to 1.9 and 3.5 percent, eliminating itemized […]
February 5, 2013 05:30 PM By Citizens for Tax Justice Staff | Permalink | Earlier this week, a district court in Texas ruled for a second time that the state’s system of paying for schools is unconstitutional, both because it fails to provide enough revenue to deliver an adequate education for Texas children and because […]
February 4, 2013 06:39 PM By Citizens for Tax Justice Staff | Permalink | A new short report from Citizens for Tax Justice explains that House Ways and Means Committee Chairman Dave Camp has put forward an intriguing proposal to reform the tax treatment of derivatives — the complex financial instruments that played a starring […]
February 4, 2013 06:08 PM By Citizens for Tax Justice Staff | Permalink | Over the weekend, President Obama and Senate Majority Leader Harry Reid both stated that closing tax loopholes is part of the solution to replacing the coming sequestration of federal spending. CTJ’s recently updated working paper on tax reform options identifies three […]
February 4, 2013 04:47 PM By Institute on Taxation and Economic Policy Staff | Permalink | Our partner organization, the Institute on Taxation and Economic Policy (ITEP) is continuing to generate a lot of publicity in the states for its recent Who Pays? report examining the fairness (or lack thereof) of every state’s tax system. […]
January 31, 2013 03:30 PM By Citizens for Tax Justice Staff | Permalink | A new working paper on tax reform options from Citizens for Tax Justice has a section describing a category of revenue-raising proposals that has not received much attention: ending tax shelters for investment income. As former Treasury Secretary Larry Summers noted […]
January 30, 2013 03:13 PM By Citizens for Tax Justice Staff | Permalink | Comprehensive New 50-State Study Provides Detailed Profiles and Comparisons of Tax Systems and Distribution Including “Terrible Ten” Most Regressive States State tax systems take a much larger share from middle- and low-income families than from wealthy families, according to the fourth […]
January 30, 2013 01:22 PM By Citizens for Tax Justice Staff | Permalink | Lawmakers in North Carolina are looking seriously at repealing the state’s personal and corporate income taxes, and replacing them primarily with a larger sales tax. As is often the case with plans to gut the income tax, the proposal is being […]
January 28, 2013 03:57 PM By Citizens for Tax Justice Staff | Permalink | On Friday, the IRS held its EITC Awareness Day, working with local governments, non-profits and community groups to ensure that people potentially eligible for the Earned Income Tax Credit (EITC) file tax returns and claim it. The IRS says that one […]
January 28, 2013 12:48 PM By Citizens for Tax Justice Staff | Permalink | A two-page report from Citizens for Tax Justice explains new evidence of offshore tax avoidance by corporations unearthed by the non-partisan Congress Research Service (CRS). In a nutshell, CRS finds that U.S. corporations report a huge share of their profits as […]
January 24, 2013 02:42 PM By Institute on Taxation and Economic Policy Staff | Permalink | Note to Readers: This is the second of a six part series on tax reform in the states. Over the coming weeks, The Institute on Taxation and Economic Policy (ITEP) will highlight tax reform proposals and look at the […]
January 23, 2013 10:51 AM By Institute on Taxation and Economic Policy Staff | Permalink | In reference to Indiana Governor Mike Pence’s proposed tax plan, The South Bend Tribune urges lawmakers to “pass on this tax cut” and cites data (PDF) from our partner organization, the Institute on Taxation and Economic Policy (ITEP), to […]
January 23, 2013 10:34 AM By Citizens for Tax Justice Staff | Permalink | This weekend, Professional Golf Hall of Fame member Phil Mickelson hinted that he might move from California, and even expatriate to Canada, because of recent tax increases on the wealthy in his home state. Aside from the fact that he would […]
January 18, 2013 04:13 PM By Richard Phillips, Senior Policy Analyst at ITEP | Permalink | While the fiscal cliff debate may have seemed abstract and technical to many Americans, the results of the tax deal has become much more tangible to 77.5% of Americans who are seeing their take-home pay decrease in their first […]