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Summary of the Latest Federal Income Tax Data, 2020 Update
The latest IRS data shows that the U.S. individual income tax continues to be very progressive, borne primarily by the highest income earners. The top 1 percent of taxpayers pay a 26.8 percent average individual income tax rate, which is more than six times higher than taxpayers in the bottom 50 percent (4.0 percent).
6 min read
How Controlled Foreign Corporation Rules Look Around the World: Colombia and a Perspective of Latin America
For Colombia, as well as for other countries in the world that are not capital exporters, one important question is whether CFC rules are necessary or are indirectly a requirement to be part of world organizations like the OECD (which Colombia is not a member) in order to be on the radar of larger economies.
5 min read
Recent Study on Financial Transaction Taxes Understates their Economic Harm
FTTs are unreliable sources of revenue and can increase risky financial activities. When looking to address income inequality and raise revenue, lawmakers should look to alternatives to this complicated and distortive tax.
5 min read
Bloomberg’s Financial Transaction Tax (FTT) Proposal Revives Bad Policy
In a way, one should sometimes be most wary of taxes with a very, very, very low rate. It suggests a certain hesitance on the part of the policymaker, as if he knows he’s playing with something potentially very damaging.
4 min read
New Evidence on Territorial Taxation
6 min read