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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
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
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
Tax Treaty Network of European Countries
1 min read
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
Who Wants a Tax Increase?
4 min read
The First Filing Season under the TCJA
3 min read
Recapping the 2019 Arkansas Tax Reform
3 min read
Notable Tax Policy Changes in Europe
2 min read
The Alternative Minimum Tax Still Burdens Taxpayers with Compliance Costs
Although Congress intended the AMT to be a tax on wealthy taxpayers, for much of its history it has subjected middle-income taxpayers in high-tax states to heavy compliance burdens. TCJA reforms that have increased the AMT’s exemption and exemption phaseout threshold will shield some taxpayers from the AMT through 2025, but the number of taxpayers impacted will increase in 2026 when the TCJA’s individual income tax reforms expire.
14 min read
Tax Policy and Entrepreneurship: A Framework for Analysis
A key element of America’s dynamism problem is a drop in entrepreneurship. Removing tax barriers for entrepreneurs would improve America’s dynamism while making America’s tax code more neutral, efficient, and simple for all taxpayers.
25 min read