The Three Basic Tax Types
The better you understand taxes, the better equipped you are to make decisions about them. All taxes can be divided into three basic types: taxes on what you buy, taxes on what you earn, and taxes on what you own.
Our animated explainer videos are designed for the classroom, social media, and anyone looking to boost their tax knowledge on the go.
The better you understand taxes, the better equipped you are to make decisions about them. All taxes can be divided into three basic types: taxes on what you buy, taxes on what you earn, and taxes on what you own.
Every policy has trade-offs, but a well-designed carbon tax has the potential to protect the environment without harming consumers, jobs, or businesses.
Taxing cannabis is brand-new territory. While many states see recreational cannabis as a potential gold mine for tax revenue, the reality of designing a new tax is more complicated.
Discover why there are better and worse ways for governments to raise a dollar of revenue. That’s because no two taxes impact the economy the same.
Taxing cannabis is brand-new territory. While many states see recreational cannabis as a potential gold mine for tax revenue, the reality of designing a new tax is more complicated.
Understanding how tax brackets work can inform decisions about performing extra work through a second job or overtime, or pursuing new streams of income.
Even though tariffs are invisible, their effects clearly are not. They might be sold as a tool to strengthen the economy, but tariffs are just taxes that make everyone worse off.
Every policy has trade-offs, but a well-designed carbon tax has the potential to protect the environment without harming consumers, jobs, or businesses.
The better you understand taxes, the better equipped you are to make decisions about them. All taxes can be divided into three basic types: taxes on what you buy, taxes on what you earn, and taxes on what you own.
Every so often, you will see headlines highlighting large companies that pay little or no corporate income tax. While these stories may seem shocking, the reality is much more mundane.
Raising the corporate income tax is often promoted as a way to generate revenue for helpful government services. Unfortunately, higher corporate taxes typically hurt the very people they’re supposed to help through lost wages and fewer opportunities.
Since only U.S. businesses pay the GILTI tax, not foreign businesses, it makes U.S.-based brands less competitive abroad. Whatever its intentions, GILTI is a flawed policy, and doubling down on it will hurt us abroad, and at home.