West Virginia Amendment 2 would not directly reduce tangible personal property taxes—on cars, inventory, or machinery and equipment. It would, however, empower the legislature to consider such reforms.4 min read
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Property taxes are the primary tool for financing local government and generating state-level revenue in some states as well.5 min read
In an already-challenging economic environment, new UK Prime Minister Liz Truss must get tax rates correct to avoid over-burdening a population and business sector facing immense uncertainty. Focusing only on rates while ignoring the base misses an opportunity for real, pro-growth reform.4 min read
The mix of tax sources states choose can have important implications for both revenue stability and economic growth, and the many variations across states are indicative of the different ways states weigh competing policy goals.29 min read
Given the state’s strong budget surplus and projected continued revenue growth, Wisconsin is in a prime position to enact pro-growth reforms to improve the state’s competitive standing for decades to come.54 min read
While Wisconsin has long been one of the highest-tax states in the nation, that distinction is increasingly detrimental as businesses and individuals enjoy increased economic and geographic mobility.6 min read
Property taxes are highly unpopular and can get extremely confusing. But when done right, they can be quite good. We talk through what a well structured property tax should look like, which states have good property tax structures in place and which ones don’t, and how these taxes impact a state’s competitiveness in an increasingly mobile economy.
Which states have the highest property taxes in 2022? See how your state compares in property taxes across the United States3 min read
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.
Only three European OECD countries levy a net wealth tax, namely Norway, Spain, and Switzerland.3 min read
Learn where and when taxes originated and how they resemble taxes we have today. Understand how the American tax code developed from the beginning of the colonies. Learn about some of the weirder taxes throughout history, designed not just to raise revenue, but influence behavior too.
In this lesson plan, students will discover why there are better and worse ways for governments to raise a dollar of revenue. Students will compare the economic impact of the three basic tax types—taxes on what you earn, buy, and own—including three specific taxes within each category, and learn about the basics of “dynamic scoring.”
What are the three basic tax types in the American Tax Code? In this lesson plan, students will learn about taxes on what you earn, taxes on what you buy, and taxes on what you own. Learn how do these taxes fit together, how they impact government revenues and the economy, and where you may encounter them in your daily life.
After a whirlwind of cuts and reforms in 2021, it looks like 2022 might be an even bigger year for state tax codes. Republican and Democratic governors alike used their annual State of the State addresses to call for tax reform, and there is already serious momentum from state lawmakers nationwide to get the job done.3 min read
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.2 min read
Compared to other industrialized countries, the United States relies more on individual income taxes and property taxes and less on consumption taxes.3 min read
Designing tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.5 min read
Through 10 ballot measures across four states—Colorado, Louisiana, Texas, and Washington—voters will decide significant questions of state tax policy.7 min read