Imagine running a small business and being assessed a penalty by the IRS. Then imagine being told by the IRS that the only way to avoid the penalty is to commit a serious felony, laundering money. This Kafkaesque...
- Everyone's Taxes are Down Except the Top 1%
Everyone's Taxes are Down Except the Top 1%
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...
Executive Summary Senators Marco Rubio (R-FL) and Mike Lee (R-UT) have developed a plan to reform the individual and corporate income tax codes. Major elements of the plan would: Reduce the number of tax brackets to two (15 percent and 35...
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