One of the worst aspects of the federal tax code is the way it treats saving. Under ordinary circumstances, saving is treated to double taxation at the individual level, reducing after-tax returns to saving and...
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- Just Released: New Book on Iowa's Tax System and Eco...
Just Released: New Book on Iowa's Tax System and Economy
This morning, we released a new chart book that illustrates why tax reform should be on the minds of Iowan policymakers and taxpayers during the upcoming gubernatorial election in November. Iowa Illustrated: A Visual Guide to Taxes & the Economy provides reporters, legislators, and taxpayers with an in-depth look at the make-up of Iowa’s tax code and its growing economy.
By offering a broader perspective of Iowa’s taxes and illustrating some of the lesser-known aspects of Iowa’s business environment, this guide provides the necessary facts for having an honest debate about how to improve the structure of The Hawkeye State’s tax system.
Here are just a few examples of the more than 30 key findings:
- Iowa relies on federal funding for one-third of its budget
- Iowa’s sales tax rate has tripled since its creation
- Iowa’s business taxes rank poorly nationally, and are uncompetitive regionally
- Iowa has had a net loss of 63,287 people over the last 20 years
- Effective tax rates in Iowa vary widely across different industries
Check out the full report, here.
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