As President Obama prepares to roll out another tax increase proposal targeting capital gains and dividends, it’s instructive to look at what happened the last time he did that. Fortunately, the IRS just released...
- Record High Progressivity of Federal Income Taxes
Record High Progressivity of Federal Income Taxes
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...
Key Findings Forty-five states and the District of Columbia allow first-year expensing of small business capital investment as permitted under Section 179 of the Internal Revenue Code. Twelve states and the District of Columbia are out of...
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