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state flat tax trend and state flat income taxes 2024

The State Flat Tax Revolution: Where Things Stand Today

In 2021 and 2022 alone, more states enacted laws converting graduated-rate individual income tax structures into single-rate income tax structures than did so in the whole 108-year history of state income taxation up until that point.

10 min read
US deficits, spending, and taxes CBO Budget and Economic Outlook 2024

Major Takeaways from CBO’s Updated Long-Term Outlook

The CBO projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs While some recent legislation has reduced the deficit, the Inflation Reduction Act is proving to be more expensive than originally promised.

5 min read
2024 Top Personal Income Tax Rates in Europe

Top Personal Income Tax Rates in Europe, 2024

Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.

3 min read