The Tax Policy Blog

March 28, 2014

We’ve been closely following the fate of tax incentives for the Netflix-exclusive political drama House of Cards, which films in Maryland. A month ago, we ...

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March 28, 2014

Yesterday, the Center on Budget & Policy Priorities (CBPP) attacked the recent tax cut package in Kansas (which changes the three-bracket 3.5%/6.25%/6.45% income tax into a two-bracket 3.0%/4.9% income tax, and perhaps even lower if revenue growth exceeds a stated threshold). The CBPP report argues that Kansas is not a model because cutting taxes has reduced revenue by some $800 million per year, led to lower spending...

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March 28, 2014

This morning, we released an updated and improved newsletter in order to provide you with our latest and most popular content in a single weekly email. If you want to keep up to date with our latest research, most popular blogs, and our ever popular tax maps, then click here to subscribe to the Weekly Tax Update. For a preview of this week's edition,...

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March 28, 2014

Since Bitcoin’s introduction in 2009, the IRS has left users in the dark about the tax liability of their assets. On Tuesday, the IRS clarified its position on the tax status of virtual currencies, and it’s official: Bitcoin is property and not currency, at least as far as the U.S. government is concerned. Any net gain from...

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March 27, 2014

The U.S. has the highest corporate tax rate in the developed world. There are lots of problems associated with that, including less investment and a shrinking of the corporate tax base, i.e. profits. Some of the profits have just disappeared through less investment, i.e. the high corporate tax causes less domestic investment and production but more consumption of...

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March 27, 2014

Today, we released a report with a list of recommendations for how Ohio Governor John Kasich (R) can improve his 2014 suggestions for tax reform. But there is another report released this week by Policy Matters Ohio that is worth reading as well, and we were surprised to find it comes to some similar conclusions. They find that the offsetting...

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March 27, 2014

In response to Ohio Governor Kasich’s call for tax reform in his 2014 State of the State address, we have released an analysis of his proposals and a menu of possible options for improving the state’s corporate, individual income, and sales tax structures.

Key findings include:

  • Governor Kasich’s 2014 tax proposal decreases individual income...
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March 26, 2014

I recently returned from Illinois, where I had an opportunity to share our new research into the impact of income tax changes on employers in Illinois.

The first plans we covered, from Representative Jakobsson and the Center on Tax and...

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March 26, 2014

We've just released an in-depth analysis of the long-term effects on federal revenue and the U.S. economy of enacting the capital cost recovery plan developed by Senate Finance Committee Staff under the guidance of Senator Max Baucus.

Senator Baucus has left the Senate to become ambassador to China, but his proposal is still worth evaluating. Government revenue...

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March 26, 2014

There are several tax plans floating around Illinois right now, in particular ones that would fundamentally alter the state’s single-rate individual income tax. The most recent proposal, put forth by House Speaker Michael Madigan, would impose a 3 percent surcharge on incomes over $1 million.

I wrote earlier this week that Illinois residents should be aware...

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March 26, 2014

This week, Maryland Governor Martin O’Malley (D) will receive a bill that would raise the state’s estate tax exemption from $1 million to the federal level by 2019. The bill, sponsored by Delegate Susan Krebs (R-Carroll), passed by both houses of the state legislature, would...

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March 25, 2014

This morning we released a new report by my colleague Liz Malm, on how a proposed Illinois tax increase would affect small businesses and job creation.

For several months, there has been buzz in Illinois political circles about a progressive income tax, timed to prevent the scheduled drop in the state's current flat income tax from 5% to 3.75% at the end of...

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March 25, 2014

Wisconsin Governor Scott Walker (R) yesterday signed Act 145 into law, a budget bill that makes a number of tax changes. These include:

  • Reducing the lowest income tax...
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March 24, 2014

Capital gains realizations and dividend payouts increased significantly between 2011 and 2012, ahead of a tax increase in 2013.

According to the IRS, capital gains realizations increased 60.4 percent, increasing from $310.9 billion in 2011 to 498.7 billion in 2012. Qualified dividends saw a...

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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.

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