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Money and 1040 forms symbolizing the new federal income tax returns

Sources of Personal Income, Tax Year 2018

Reviewing the sources of personal income shows that the personal income tax is largely a tax on labor, primarily because our personal income is mostly derived from labor. However, varied sources of capital income also play a role in American incomes. While capital income sources are small compared to labor income, they are still significant and need to be accounted for, both by policymakers trying to collect revenue efficiently and by those attempting to understand the distribution of personal income.

10 min read
2021 wine taxes in Europe. Compare excise duty on wine, including germany wine tax, spain wine tax, and france wine tax

Wine Taxes in Europe, 2021

As one might expect, southern European countries that are well-known for their wines—such as France, Greece, Portugal, and Spain—either don’t tax it or do so at a very low rate. But travel north and you’ll see countries that tend to levy taxes on wine—and often hefty taxes.

3 min read
2021 state individual alternative minimum tax amt by state california individual alternative minimum tax colorado individual alternative minimum tax

Does Your State Have an Individual Alternative Minimum Tax (AMT)?

The original goal of AMTs—to prevent deductions from eliminating income tax liability altogether—can be accomplished best by simplifying the existing tax structure, not by creating an alternative tax which adds complexity and lacks transparency and neutrality.

2 min read
sales tax rates by city, cities with highest sales tax rate, city highest sales tax rate, cities with the highest sales tax

Sales Tax Rates in Major Cities, Midyear 2021

Neither Anchorage, Alaska, nor Portland, Oregon, impose any state or local sales taxes. Honolulu, Hawaii, has a low rate of 4.5 percent and several other major cities, including Milwaukee and Madison, Wisconsin, keep overall rates modest.

13 min read