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Individual Income and Payroll Taxes

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High-income taxpayers earn the majority of pass-through income pass-through business pass-through businesses

Pass-Through Businesses Q&A

Pass-through businesses are the dominant business structure in America. Pass throughs file more tax returns and report more business income than C corporations. Pass-through businesses are not subject to the corporate income tax, but instead report their income on the individual income tax returns of owners. This blog will address some frequently asked questions about pass-through structure and taxation.

3 min read

A Property Tax is a Wealth Tax, but…

Warren’s comparison between the property tax and her proposed wealth tax makes a good sales pitch. However, there are important differences between the taxes. By no means is the property tax in many jurisdictions perfect, but it is generally better structured than a wealth tax.

4 min read
Less than one percent of businesses employ almost half of the private sector workforce, business employment, employment and taxes

Firm Variation by Employment and Taxes

Less than one percent of businesses employ almost half of the private sector workforce. Large companies pay 89% of corporate income taxes in the United States.

2 min read
more business income is reported on individual tax returns than corporate returns, pass-through business income, business tax returns, corporate tax returns

Corporate and Pass-through Business Income and Returns Since 1980

More business income is reported on individual tax returns than corporate returns. The U.S. now has fewer corporations and more individually owned businesses. Corporations make up less than 5 percent of businesses but earn 60 percent of revenues.

3 min read
Elizabeth Warren real corporate profits tax, Senator warren real corporate profits tax, elizabeth warren corporate tax proposal, Senator warren corporate tax proposal

An Analysis of Senator Warren’s ‘Real Corporate Profits Tax’

Sen. Elizabeth Warren introduced a 7 percent surtax on corporate profits called the “Real Corporate Profits Tax.” We estimate that this tax would reduce the incentive to invest in the United States, and result in a 1.9 percent smaller economy, a 3.3 percent smaller capital stock, and 1.5 percent lower wages. The surtax would raise $872 billion between 2020 and 2029 on a conventional basis and $476 billion on a dynamic basis. The tax would make the tax code more progressive, but it would fall on taxpayers in every income group.

9 min read