Reviewing Joe Biden’s Tax Vision
Biden’s tax vision is twofold: higher taxes on high-income earners and businesses paired with more generous provisions for specific activities and households.
4 min readBiden’s tax vision is twofold: higher taxes on high-income earners and businesses paired with more generous provisions for specific activities and households.
4 min readOne under-discussed part of the CARES Act, passed in March to provide economic relief during the COVID-19 epidemic, is a correction to a drafting error in the Tax Cuts and Jobs Act of 2017, often known as the “retail glitch.”
3 min readThe five counties with the highest median property tax payments are all located near New York City and have bills exceeding $10,000.
2 min readValue-added taxes (VAT) are traditionally considered regressive, meaning they place a disproportionate burden on low-income taxpayers. However, a recent OECD study used household expenditures micro-data from 27 OECD countries to reassess this conclusion.
5 min readTax credits like the ones approved in the Nebraska bill may help legislators buy some time to work toward a more permanent solution, but they are not, in and of themselves, an effective means of providing lasting relief or generating long-term economic growth.
7 min readStates can tax your income where you live and where you work—but a growing number of states may also seek to tax your income even if you neither live nor work there, an aggressive posture that becomes increasingly consequential as more Americans work remotely both during and potentially after the COVID-19 pandemic.
15 min readWhat tax policy ideas did Harris propose along the campaign trail, and how do they differ from Biden’s plan?
3 min readCalifornia is home to 7 of the 10 most expensive metro areas in America. See what’s the real value of $100 in your metro area with our new purchasing power map.
4 min readThe fiscal response to the COVID-19 pandemic will require policymakers to consider what revenue resources should be used to fill budget gaps. Tax policy experts have proposed wealth taxes, (global) corporate minimum taxes, excess profits taxes, and digital taxes as opportunities for governments to raise new revenues.
20 min readThe LIHTC has subsidized over 3 million housing units since it was established in 1986, the largest source of affordable housing financing.
24 min readThe question, “Does my state tax Social Security benefits?” may be simple enough, but the answer includes a lot of nuance. Many states have unique and specific provisions regarding the taxation of Social Security benefits, which can be broken into a few broad categories.
3 min readFirst, the introduction of the wealth tax would significantly impact international capital flows and cause large economic dislocations in the short term. Second, provinces that are looking at raising their corporate tax rates might hinder capital attraction, growth, and economic recovery.
4 min readAccording to news reports, the Vermont legislature is ready to advance S54 this month or next, to legalize cultivation and sales of marijuana in the state beginning in 2022.
6 min readIndividuals respond to taxes by changing their behavior. Hence, when there are tax differences between countries, some might respond by moving to a lower-tax area. For higher-income individuals, the benefits of moving as a result of higher taxes are greater because they have more income or wealth at stake.
4 min readHigh property taxes levied not only on land but also on buildings and structures can discourage investment because they disincentivise investing in infrastructure, which businesses would have to pay additional tax on. For this reason, it may also influence business location decisions away from places with high property tax.
3 min readAside from public health concerns, a ban on flavored tobacco, especially when including cigarettes, has significant tax implications and could result in unintended consequences such as increased smuggling. In Massachusetts, more than 20 percent of cigarettes smoked are purchased out of state.
5 min readOn Thursday, U.S. Senators Marco Rubio (R-FL), Bill Cassidy (R-LA), Steve Daines (R-MT), and Mitt Romney (R-UT) released the Coronavirus Assistance for American Families Act (CAAF), which would provide payments of $1,000 to adults and children with Social Security numbers, subject to income limits used in the original round of rebates. Among other modifications, it would be more generous to households and families with children when compared to the original rebates distributed under the CARES Act.
5 min readBrazil has one of the world’s most complex tax systems. Brazil has the opportunity to implement a simple consumption tax and foster tax progressivity at the same time.
5 min read