State and local governments depend on many different types of taxes, one of which is known as an excise tax. Like general sales taxes, excise taxes are paid on the purchase of an item. But unlike sales taxes, excise...
- Chart: Periods of High Capital Gains Tax Rates Produce Le...
Chart: Periods of High Capital Gains Tax Rates Produce Less Revenue
Key Findings The average combined federal, state, and local top marginal tax rate on long-term capital gains in the United States is 28.6 percent – 6th highest in the OECD. This is more than 10 percentage points higher than the simple...
Key Findings Taxpayers reported $9.2 trillion of total income on their 2012 tax returns, a substantial increase from the previous year’s $8.4 trillion. 68 percent ($6.3 trillion) of total income reported on individual income tax returns...
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