"Our results are inconsistent with the view that cuts in top state income tax rates will automatically or necessarily generate growth," says a report from the Tax Policy Center.
Today is Tax Day, and Republicans are voting to repeal the estate tax. This is a huge, huge tax cut for only the top 0.2 percent – people worth more than $5.4 million (and couples worth $10.9 million).
This tax season, America’s billionaires are toasting you, the ordinary taxpayer. That’s because you’re the one picking up the tab for our nation’s ailing infrastructure of roads, bridges, and rail transport, among other things.
Next week, House Republicans plan to vote to eliminate the estate tax, standing tall to defend the inheritances of the multimillionaires. They choose dynasty over democracy in America.
Should America’s taxpayers be subsidizing all those millions in compensation that CEOs are collecting? Rep. Barbara Lee from California doesn’t think so. Her bill addressing that problem has just been introduced.
As Democrats on the Senate Finance Committee release a report today on schemes used by wealthy people to avoid paying taxes, the Republican chairman wants "more attention" on taxing lower-income people.
The story is pretty much the same in conservative state after conservative state: The 1 percent pay a significantly lower percentage of their income in state and local taxes than middle-income residents.
The president's budget will trigger a new battle over America's direction. It contains many sensible proposals. But hidden in it is the next corporate sting: a massive tax break for multinationals. Here is how the rules get rigged.
How many companies are already shifting even more jobs and profit centers out of the country because of this proposed tax holiday? Have we already lost 10,000 jobs since they announced it?
A former Campaign for America's Future "Progressive Champion" and a libertarian Republican have jointly created a Frankenstein of a plan that pardons corporations for their past tax avoidance.
Politicians in both parties and in both houses are coalescing around a plan to pay for transportation improvements by giving corporations a deep tax break on profits they have held overseas.
Sen. Sheldon Whitehouse has released a "tax fairness plan" that would ensure that people with multimillion-dollar incomes pay their fair share in taxes. Meanwhile, conservatives cling to their tax-cuts-for-corporations agenda.
House Republicans start the new Congress by declaring that tax cuts defy gravity and that future disability payments should be held hostage to set the stage for Social Security cuts.
We should return the top corporate tax rate to 50%. Why let a few already-wealthy people reap the entire return from We the People's investment in corporate profitability?
State and local tax breaks are exploited by wealthy corporations, propping up businesses that generate massive wealth for CEOs and shareholders while keeping wages and benefits down for rank-and-file workers.
The major tax break that was about to be left off the "make permanent" list in the "tax extenders" bill President Obama threatened to veto last week – the Earned Income Tax Credit – disproportionately benefits rural families.
Some of the special tax breaks in the extenders package are really good and serve an important purpose. Others include loopholes that actually encourage corporations to shift U.S. profits offshore into tax havens.
The kingpins of Congress have spent years carving tax loopholes that help America’s CEOs fleece the federal treasury. Now these kingpins are pushing a corporate tax ‘reform’ that ignores the loopholes.
Walmart avoids paying on average $1 billion a year in federal taxes through aggressively exploiting tax loopholes, according to a report released today by Americans for Tax Fairness.
Corporations owe taxes on the $2 trillion of profits these companies have already made. Who should get this money? We could let corporations keep the money – or use it to give ordinary Americans a $2,000 check.
It pays to remember the work Congress is not doing to ensure corporations pay their fair share of taxes. Some of the consequences are laid out in a report on CEO compensation and corporate taxes released today.
Americans want what 21st century politics has so far not delivered: real options for challenging concentrated wealth. That's one conclusion from new polling that gave Americans a choice of seven tax policy options.
Any deal that in exchange for funding infrastructure lets these companies off the hook for these taxes they already owe rewards these companies for engaging in these schemes and scams.
When you sign an online petition, send an email and especially donate to a cause, it can make a real difference. In the case of companies “renouncing their citizenship” in order to dodge their taxes, it really did work.
Why is it that any time you hear the word “reform” coming out of Washington it always ends badly for about 99 percent of us? Here are some actual reforms that are need for corporate tax reform.
Extortion is the practice of obtaining something of value through fear, using force, threats or coercion. What does it mean when the owners of big companies say they will move if we don't cut their taxes? This is extortion.
As fast-food workers across the country strike for decent pay, Burger King is still preparing to abandon the US as their home country. How does a burger company get flipped like this and who gets rich when it happens?
Corporate taxes used to be 46 percent. Corporations played an extortion game, saying lower our taxes or we'll move out of the U.S. The U.S. gave in and "reformed" the tax rate to 35 percent. Now the corporations are back for more.
With polls showing most Americans just hate companies that renounce their U.S. citizenship to dodge paying their taxes, the DC/corporate-centric outlet Politico says Democrats are making a mistake by pushing this issue.
New York Democratic Senator Chuck Schumer has introduced a bill aimed at fighting the corporate tax-dodging practices of "inversion" and "earnings stripping" which involve use on non-US affiliate companies.
An obscure provision in the Affordable Care Act, a new report details, raises taxes on firms that overpay their top execs. The only problem: The provision so far only applies to corporations in one industry.
Tolstoy wrote that "kings are the slaves of history." Unfortunately for Burger King, which intends to renounce its American status for tax purposes, neither history nor public opinion is on its side.
In one of its lesser-known provisions, the Affordable Care Act limited tax breaks health insurers could claim for executive compensation. While that may sound arcane, the implications could be profound and far-reaching.
Legislation to do something about corporations renouncing their U.S. "citizenship" is before Congress. The odds are that Republicans will block it – and not just because they have obstructed everything else.
Every part of Burger King’s success was enabled up by our taxpayer-funded American system. Now Burger King wants to take off from the country that made them what they are. But they still want us to eat their food.
Corporate tax rates used to top out at 52.8 percent. They are now 35 percent. Now they want rates lowered even more. But are corporate tax rates really "uncompetitive?" And what does that even mean?
Big news: Walgreens will not “invert” to become a Swiss company to avoid U.S. taxes. This is a victory for a powerful alliance of citizen groups under the banner of Americans for Tax Fairness. Now let's reform corporate taxes.
Walgreens has announced that it won't do an "inversion" that will enable it to cut its corporate taxes by renouncing its U.S. citizenship. But we still need to deter other companies from going that route.
If you get a speeding ticket, do you get to deduct the fine from the income tax you owe? Then why should JPMorgan Chase be able to deduct from its taxes a $20 billion fine for wrongdoing as a cost of doing business?
An Illinois company is considering a combination with the French corporation that is the home of Dannon yogurt in the latest example of a corporate "inversion" designed to lower its U.S. tax bill.