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High-Income Taxpayers, Progressivity, and Inequality

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One Big Beautiful Bill Pros Cons

The Good, the Bad, and the Ugly in the One, Big, Beautiful Bill

Republicans have advanced legislation to extend many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) alongside dozens of new provisions. Any comprehensive tax legislation is going to have its wrinkles, and the “One, Big, Beautiful Bill” is no different.

8 min read
The "Big Beautiful Bill" changes pass-through business taxes, including the 199a deduction (QBI deduction) and the SALT deduction cap.

SALT Cap Workarounds for Some Pass-Through Entities Are Threatened by One, Big, Beautiful Bill

For owners of pass-through businesses, the reconciliation package (1) raises the state and local tax (SALT) deduction cap, (2) denies the benefit of pass-through entity-level taxes that had previously worked around the SALT cap for such pass-through businesses, and (3) increases the Section 199A deduction for qualifying pass-through entities.

4 min read
State and Local Tax Collections Per Capita by State, 2025 State and Local Tax Burdens by State

State and Local Tax Collections Per Capita by State, 2025

According to the latest economic data from the US Census Bureau, the average per capita state and local tax burden is $7,109. However, collections vary widely by state, reflecting differences in tax rates and bases, natural resource endowments, the scale and scope of taxable economic activity in each state, and residents’ political preferences.

5 min read

North Carolina Should Refine Its Tax Reduction Triggers

By implementing a more sophisticated and nuanced trigger system for its tax reduction goals, North Carolina can sustain its trajectory toward lower tax rates, reinforce its reputation as a business-friendly state, and ensure long-term fiscal stability in an ever-changing economic landscape.

4 min read
2025 Kansas Tax Cuts including Kansas flat income tax reform and 2025 Kansas tax reform and relief

Kansans May Finally Get a Low, Flat Income Tax

If adopted, these reforms would make Kansas’ tax code substantially more competitive while returning revenue growth to taxpayers in a fiscally responsible manner.

5 min read
Net wealth taxes in europe, 2025 wealth taxes including France wealth tax and Spain wealth tax

Wealth Taxes in Europe, 2025

Wealth taxes not only collect little revenue and create legal uncertainty, but an OECD report argues that they can also disincentivize entrepreneurship, harming innovation and long-term growth.

5 min read
Taxes and the French Revolution

Taxes and the French Revolution

The French Revolution provides insight into the relationship between a government and its citizens and serves as a reminder that tax policy can have impacts (big and small) that last for centuries.