Today, the Tax Foundation is honoring six individuals with the second annual award for Outstanding Achievement in State Tax Reform. As the award’s name suggests, the honorees were selected due to their extraordinary...
- Fraction of Each Quintile's Total Tax Burden Account...
Fraction of Each Quintile's Total Tax Burden Accounted for by Each Type of Tax, Calendar Year 2004
Note: This table measures the economic incidence of taxes rather than the legal incidence. For a more detailed explanation, see "Who Pays Taxes and Who Receives Government Spending? An Analysis of Federal, State and Local Tax and Spending Distributions, 1991-2004," Tax Foundation Working Paper, No. 1, March 2007, available at http://www.taxfoundation.org/files/wp1.pdf.
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Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep.” This is the phenomenon by which people are pushed...
- Saving and investment are necessary for a society to adequately provide for its future.
- Saving and investment have declined substantially as a percentage of GDP over the last 40 years, and have collapsed...
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