Just a few months ago, Mexico looked like the poster country for soda tax advocates. “One of the world’s highest soda taxes appears to be working. After just one year, purchases of sugary drinks in Mexico are down 12 percent, a new study shows,” crowed the Bloomberg editorial board in January. “Public health authorities hailed the […]
Many people already think of Tennessee is one of only a handful of states with no income tax, but as middle-class retirees can attest, it is anything but. While the state does not tax income from labor, it has levied a six percent tax on investment income since the establishment of the Hall Income Tax […]
It appears that the pop star Prince may have died without a will, leaving behind a multi-million dollar and growing estate. Although Price has one full sister and five half-siblings, Prince’s family members will not be his biggest heirs. Both the federal government and Minnesota’s state government will assess so-called “death taxes” or estate taxes […]
In an ideal world the federal government would collect all of the taxes which it was owed—and then spend only what it intended to. Unfortunately things aren’t that simple. The tax gap and improper payments serve as reminders that the federal government is not very good at administering complex programs. Instead every year we have […]
While the Internal Revenue Service continues to leave uncollected tax money on the table, the agency beefed up its surveillance capabilities in a move that alarms both conservative and liberal privacy advocates. Now some complain the IRS is acting too much like Big Brother and not enough like a traditional taxman. Since 2006, the IRS […]
A Minnesota commuter rail line is costing taxpayers approximately $22 per passenger, per trip. “When you’re subsidizing about 80 percent of every trip on the line, it’s a really big fiscal disaster,” Annette Meeks, Freedom Foundation of Minnesota CEO, told The Daily Signal. The Minnesota Northstar rail opened for service in the fall of 2009, […]
In a previous article, I put the spotlight on Oregon’s Initiative Petition 28 (IP 28), a gross receipts tax to be paid by C corporations nationwide on all sales of $25 million and above whether or not the company is profitable or not. According to its proponents, it’s all being done in the name of large corporations paying their “fair share” of taxes, but that’s only one goal. I dug a lot deeper into this and found that the consortium of supporters, including teachers’ unions, the SEIU and AFSME among others, are engaged in committing what amounts to a business assassination attempt on the Koch brothers, owners of Koch Industries.
For many Americans, the days leading up to tax day are some of the most dreaded on the calendar. Over the past several weeks, Americans have spent many frustrating hours pouring over W-2’s and Form 1040’s as they prepare their tax returns. According to the Internal Revenue Service, Americans collectively spend roughly 6.6 billion hours […]