A group of professors recently released a study that finds insufficient discussion of the total cost of taxes in public finance textbooks. They find that common textbooks fail to fully include the total cost of taxes...
- 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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- Average wage earners in the United States face two major taxes: the individual income tax and the payroll tax (levied on both the employee and the employer).
- Although a little more than half of a worker’s...
- Legislation currently being considered in Illinois would amend the state constitution to allow for a graduated-rate individual income tax. Plans being discussed would move Illinois from a single rate...
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