This Tax Season, Ask Where Your Money Is Going
By 2036, more than one out of every four dollars raised in total government revenue will go to pay interest on the debt.
By 2036, more than one out of every four dollars raised in total government revenue will go to pay interest on the debt.
When evaluating property tax reform options in North Carolina, only changes that restore balance—without distorting investment or shifting costs unfairly—will ensure the state’s local tax system supports, rather than hinders, continued prosperity.
8 min read
Many countries’ personal income tax systems tax various sources of individual income—including investment income such as dividends and capital gains.
4 min read
Some form of improved cost recovery for structures—whether full expensing, expensing with a per-unit cap, neutral cost recovery, or simply shortening the asset life of residential structures—is one of the most powerful pro-housing supply options available to federal policymakers.
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Unlike the IEEPA tariffs, which were stopped by the Supreme Court, the new Sec. 122 tariffs require congressional authorization after 150 days.
Proponents of a California wealth tax ballot initiative insist that the proposed wealth tax is temporary: a one-time 5 percent tax that can be paid upfront or over five years with deferral charges. Others are skeptical that the wealth tax would be allowed to expire.
6 min read
While well-intentioned, Kansas’ assessment limit like the one in SCR 1616 would create wide gaps between a property’s assessed value and its market value, distorting the real estate market and disadvantaging those purchasing newer properties.
8 min read
Enacting centralized sales tax collection and administration in Louisiana will help simplify the sales tax code and alleviate one of the issues that make it the least competitive sales tax regime in the country.
4 min read
Senators Chris Van Hollen (D-MD) and Cory Booker (D-NJ) have each introduced proposals aimed at cutting taxes for lower- and middle-income taxpayers and raising them on high-income taxpayers.
9 min read
Property taxes are the primary tool for financing local governments. While no taxpayers in high-tax jurisdictions will be celebrating their yearly payments, property taxes are largely rooted in the benefit principle of taxation: the people paying the property tax bills are most often the ones benefiting from the services.
9 min read