The Tax Policy Blog

April 14, 2015

Yesterday, Senator Marco Rubio (R-FL) announced his plans to run for the Presidency. One thing that sets him apart from the others that have announced so far is that he has a comparatively detailed tax plan that he released with Senator Mike Lee (R-UT). One of the advantages of that is we can really analyze the effects of what a Rubio tax plan would have on the economy and taxpayers.

His tax plan would make quite a few changes to the current code, but it’s easy to think of it as...

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April 13, 2015

Taxes are time consuming and expensive for small businesses in the United States.

Nearly a quarter of small business owners in the United States spend over 120 hours each year dealing with their federal taxes, according to the most recent survey by the National Small Business Association. That’s three work weeks spent dealing with federal taxes. Additionally, over half of small business owners spend...

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April 10, 2015

At times I really struggle to understand the way taxes are covered on Wonkblog, but a post yesterday, listing government handouts for the rich, reached a new level.

Some of the items listed seem like poor examples. (Do rich people really take lots of deductions for their gambling losses?) But the one that really threw me for a loop was the...

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April 10, 2015

Lots of news this week on sin taxes. Here’s what I’ve been reading:

  • Vocative reports that Colorado marijuana tax revenues are lower than expected. Originally projected to bring in $118 million, estimates have been revised to $69 million. Black markets and consumer tax avoidance are problems that policymakers should consider when examining such taxes, as we contended in ...
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April 10, 2015

Many Americans will be filing their tax returns next week. As Americans work on this, it's worthwhile for us to consider why tax complexity still matters. There was a kerfuffle last month over this subject; Senator Ted Cruz, who advocates a simpler tax system, pointed out that the tax code has more words than the Bible (which is true), and the Washington Post's fact checker column took the opportunity to...

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April 10, 2015

Good news! Hard copies of the 2015 edition of Facts and Figures: How Does Your State Compare? are now available for purchase for $5.00. Free copies are still available online in PDF or Excel formats.

Used daily by countless reporters, taxpayers, and legislators, this book is a one-stop data resource for state ...

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April 10, 2015

This week’s tax map shows state and local sales tax rates in each state as of January 1, 2015 and comes from our larger report on sales taxes released earlier this week. While consumers might be aware of the statewide sales tax rate, local sales taxes can differ widely, so our population-weighted average allows for comparability across states.

...

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April 09, 2015

Every once in a while we see blog posts from other tax research organizations, or even congressional offices, puzzled over the low collection of corporate taxes relative to GDP or relative to other tax revenues. Today we have another such post, from...

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April 07, 2015

The U.S. House of Representatives is expected to vote next week on a bill that would eliminate the estate tax.

Currently, the United States has the fourth highest estate or inheritance tax rate in the OECD at 40 percent—nearly three times the OECD simple average of 15 percent. Despite its...

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April 03, 2015

You’re waiting to be seated at a Las Vegas restaurant and wondering if you’ll be able to be able to hear the live jazz performance from your table. Perhaps you should also be asking yourself whether you’re going to be paying the live entertainment tax for that privilege. That might seem like a simple question; in reality, it’s anything but.

Nevada imposes a live entertainment tax (LET) on admissions charges and food,...

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April 02, 2015

Last month, Michigan House lawmakers passed HB 4122, a bill that would put an end to the state’s film incentive program effective October 1, 2015. The program, known as the Michigan Film and Digital Media Incentive, partially reimburses (up to 25%) eligible...

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April 02, 2015

Texas policymakers have a lot to be proud of, but the state’s poorly structured gross receipts-style “Margin” Tax is not one of those things. The business tax (which is called the Franchise Tax in statutes) is unique in that it has four base calculations, two rates depending on business industry, and a host of credits for certain firms, but not others. In January, we released a report delving into the merits...

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April 02, 2015

This week’s tax map takes a look at how long it takes each state to reach Tax Freedom Day® in 2015.

Tax...

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April 02, 2015

The U.S. is known for having a pretty complex tax code. The individual income tax code alone has several provisions that interact with one another and impact how much taxes people pay at all income levels. Provisions that phase-in and phase-out create spikes in peoples’ marginal tax rates. If the tax code is advertising a 10 percent marginal tax rate on your next dollar, but takes away a little bit of your Earned Income Tax Credit, what you are really paying is higher than 10 percent. This...

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April 02, 2015

In 2015, America will pay $3.3 trillion in taxes to the federal government and an additional $1.5 trillion to state and local government. America’s total tax bill of $4.8 trillion is about 31 percent of the nation’s total income.

This is a significant amount and is more than America will spend on food, clothing, and housing combined.

No doubt that the taxes we pay go towards services that government provides, but it is important to understand how much those services cost the...

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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.

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