The Tax Policy Blog

October 26, 2016

Today is October 26, the date of the Gunfight at the O.K. Corral in 1881 in Tombstone, Arizona. Yes, there was a tax angle even to that: Tombstone was a center of smuggling of cattle, alcohol, and tobacco across the Mexican border into the United States, evading Mexican export taxes. Johnny Behan, the sheriff and local tax collector (he got to keep 10 percent of taxes he collected) protected the smugglers from the U.S....

Continue Reading...
October 25, 2016

On November 8, voters in Fairfax County, Virginia, will be asked to approve a 4 percent add-on sales tax on prepared food and beverages. Together with the regular sales tax, which is 6 percent in Northern Virginia, the new tax would lift the total sales tax on prepared food and beverages to 10 percent.

Most members of Fairfax County's Board of Supervisors support the add-on tax, but...

Continue Reading...
October 25, 2016

Today is October 25, the 135th birthday of Pablo Picasso (1881-1973), the famous painter. Picasso’s art pops up in estate tax controversies, beginning with his own death, when France took its death duty in the form of art from his collection (now housed at the Musée Picasso). In 2009, after the death of collector Bernice Newberger, her estate disputed the...

Continue Reading...
October 24, 2016

On November 1st, New Jersey residents will start paying considerably higher gas taxes, with the rate rising from 14.5 to 37.5 cents per gallon (cpg) as part of a broader tax deal negotiated between Governor Chris Christie (R) and Democratic leadership in the state legislature. The tax increase hasn’t even gone into effect yet and already, two Republican state senators have filed...

Continue Reading...
October 24, 2016

Both Hillary Clinton and Donald Trump have both introduced plans that would change the federal tax system.

Hillary Clinton’s tax plan would increase federal revenue by about $1.4 trillion over the next decade. Her plan would make the current tax code more progressive by raising taxes on top...

Continue Reading...
October 24, 2016

Today is October 24, the date in 1931 when the George Washington Bridge, connecting Manhattan with New Jersey over the Hudson River, opened for traffic. Along with the Holland Tunnel, opened four years earlier, they enabled non-ferry vehicular crossing to New York City. GWB tolls started at 50 cents each way in 1931, and today are $15 inbound ($12.50 for E-ZPass...

Continue Reading...
October 24, 2016

Proposition 55 on California’s November ballot would extend higher state income taxes first adopted in 2012 after the passage of Proposition 30. The higher tax rates apply as an extra 1 percent of tax on income above $263,000 ($526,000 married filing jointly), an extra 2 percent of tax on income above $316,000 ($632,000 married filing jointly), and an extra 3 percent of tax on income above $526,000 ($1,053,000...

Continue Reading...
October 21, 2016

Today is October 21, the date in 1942 when the Revenue Act of 1942 was passed, making the federal income tax a broad-based tax for the first time. Personal exemptions were reduced from $1,500 per couple to $1,200 per couple and the lowest tax rate rose from 10 percent to 19 percent, which included a 5 percent surtax on all incomes to help pay for World War II. This was also when the income tax first provided a deduction for...

Continue Reading...
October 20, 2016

There are big tax increases, and then there’s Colorado Amendment 69. It’s “double the budget” big, and it’s on the ballot on November 8th.

The Amendment, which would establish a single-state public option health care system called ColoradoCare, would levy a new 10 percent payroll and income tax on top of the state’s existing 4.63 percent flat individual income tax, yielding a rate of 14.63 percent—the highest in the...

Continue Reading...
October 20, 2016

California voters will decide a number of statewide tax-related ballot initiatives, but most voters will also decide local tax-related ballot initiatives. Below are some highlights.

Los Angeles County Measure M: Transportation Sales Tax

Measure M would raise the sales tax by a half-cent and make permanent an existing half-cent sales tax that is due to expire in 2038. The taxes would fund specified transportation improvements...

Continue Reading...
October 20, 2016

Today is October 20, the date in 1951 that the Revenue Act of 1951 was enacted, raising income, corporate, and excise tax rates temporarily to help pay for the Korean War.

Here are some interesting links I came across:

Clinton and Trump Spar in Last Debate: Other topics took the headlines but taxes and the budget did come up. Trump said he would cut taxes massively; Clinton said no one making less...

Continue Reading...
October 20, 2016

“Here’s a guy who, when he runs, he moves faster” – John Madden.

The former Raiders coach and football commentator was a master of saying the obvious, but sometimes it’s necessary to say the obvious. For instance: taxpayer subsidization of stadium projects is in the best interest of stadium and franchise owners, not taxpayers.

Nevada Governor Brian Sandoval (R) recently signed legislation levying an additional...

Continue Reading...
October 19, 2016

Voters in the city of Olympia, Washington, will decide whether to impose an income tax on themselves, at a rate of 1.5 percent on income above $200,000, although you’d hardly know it from the ballot language.

Initiative 1 is listed on the ballot as “establishing and funding a college grant program.” The next two lines discuss who will be eligible to receive tuition grants, and only then...

Continue Reading...
October 19, 2016

This November, three California cities and Boulder, Colorado are set to vote on ballot initiatives that would impose hefty local excise taxes on soda and other sugar-sweetened beverages. My colleague Morgan Scarboro and I have an op-ed in U.S. News & World Report today about how these proposals are unlikely to deliver on the promises proponents of these taxes make. From...

Continue Reading...
October 19, 2016

Today is October 19, the 59th birthday of Grover Norquist of Americans for Tax Reform (ATR), a group he founded in 1985 that promotes the Taxpayer Protection Pledge opposing all tax increases.

Here are some interesting links I came across:

Europe to Pursue Unified Corporate Tax System:...

Continue Reading...

Pages

Follow Us

About the Tax Policy Blog

Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog The Tax Policy Blog is the official blog 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.

Monthly Archive