Chances are, if you were to pull out your latest pay stub, you would see two important lines among the list of taxes taken out of your wages: FICA and MEDFICA. If you were to do the math, these two lines, standing for...
- Putting a Face on America's Tax Returns: Chart 29
Putting a Face on America's Tax Returns: Chart 29
Key Findings Since the enactment of the federal income tax in 1913, interest on state and local bonds has been excluded from taxation. However, the original reason for this exclusion – concern about the constitutionality of taxing the...
Key Findings: Rep. Jim Renacci’s (R-OH) tax plan would reform the individual income tax code and replace the corporate income tax with a 7 percent value-added tax. The congressman’s plan would reduce federal revenues by $845...
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