Across OECD countries in 2020, GDP per capita ranged from $15,700 in Colombia to $118,000 in Luxembourg. The United States ranked fourth, with $63,000.
January 30, 2023
: Daily Deduction

Buying Time With A Clean Debt Limit Suspension

House GOP considers a short-term debt limit suspension.
January 27, 2023Renu Zaretsky
Individual Taxes: TaxVox

Tax Cheats, Dodgers, Avoiders, And Evaders

The news is filled with stories about conflicts between taxpayers and tax collectors. Just a few weeks ago a New York jury convicted the Trump...
January 27, 2023Howard GleckmanSteven M. Rosenthal
State and Local Issues: ExciseStateState Revenues and Expenditures

Disposition of State Motor Fuel Tax Receipts

January 26, 2023
State and Local Issues: IndividualSources of IncomeStateFederal Tax Components and Credits by StateMain Features of State Tax Systems

State Minimum Wage Rates

Minimum wage laws and amounts by state, 1983 to 2014 and 2023.
January 26, 2023
: Daily Deduction

A New No, A New Loophole, And An Old Trigger

A flat no on a Fair Tax?
January 26, 2023Renu Zaretsky
State and Local Issues: Brief

The Cost of Parking

A Preliminary Analysis of Parking Tickets Data in Austin, Minneapolis, and Portland
January 25, 2023Livia MuccioloFay WalkerAravind Boddupalli
: Daily Deduction

Bashing, Slashing, Taxing, and Filing

About the Fair Tax Act…
January 25, 2023Renu Zaretsky
: Daily Deduction

More Debt Limit Discussion, Maybe More State Tax Relief

Democrats plan their debt limit response.
January 24, 2023Renu Zaretsky
: Daily Deduction

Tax Season Begins; Debt Drama Heats Up

Tax season starts today but it will feel different to filers.
January 23, 2023Renu Zaretsky
Unemployment benefits follow the economy. Due to the COVID-19 pandemic, unemployment benefits as a share of total reported salaries and wages rose to 4.8%, significantly higher than in the prior 20 years.
January 23, 2023
Individual Taxes: TaxVox

Lower 1099-K Threshold Would Put Gig Workers on More-Equal Footing

As of 2021, about 16 percent of Americans had earned money through an online gig work platform . While contract labor is not new, the...
January 20, 2023Lillian Hunter
: TaxVox

Understanding Revenue Implications For State Pass-Through-Entity Taxes

The 2017 Tax Cuts and Jobs Act’s $10,000 cap on the state and local tax (SALT) deduction managed to survive attempts to reform or scrap...
January 19, 2023Lucy DadayanJohn Buhl
Individual Taxes: Virtual Event

The Prescription: Fiscal Policy for Today's Economy with Scott Winship

Our guest this week is Scott Winship, a senior fellow at the American Enterprise Institute. He will discuss the 2021 expanded child tax credit and...
January 19, 2023
State and Local Issues: Brief

Who Benefited from 2022's Many State Tax Cuts and What is in Store for 2023?

Thirty-five states and the District of Columbia passed significant tax cuts in calendar year 2022. However, the design and effect of those tax cuts varied significantly. Using the Tax Policy Center state income tax model, we analyzed three major types of individual income tax cuts—tax rate cuts,
January 19, 2023Richard C. AuxierDavid Weiner
Federal Budget and Economy: TaxVox

Balancing The Federal Budget In 10 Years Without Raising Taxes Is….Impossible

House Republicans say they want to balance the federal budget in 10 years by cutting spending only, and seem to have received a promise from...
January 17, 2023Howard Gleckman
: Daily Deduction

Hitting The Debt Limit, Gearing Up For Tax Season

The nation will hit the debt ceiling on Thursday.
January 17, 2023Renu Zaretsky
The Foreign Tax Credit is claimed by those paying income taxes to a foreign country and subject to U.S. tax on the same income. In 2020, 6% of individual income tax returns claimed the credit, including over 61% of those with adjusted gross incomes over $1 million.
January 16, 2023
: Daily Deduction

Everything Old Is New Again

The FairTax is back.
January 13, 2023Renu Zaretsky
Federal Budget and Economy: TaxVox

Here Comes The FairTax … Again

The idea of replacing all major federal taxes with a national sales tax – and using the opportunity to “abolish” the IRS – has been...
January 12, 2023John Buhl
: Daily Deduction

Lots of IRS News, Good And Bad

Taxpayer Advocate: “More misery in 2022.”
January 12, 2023Renu Zaretsky
Individual Taxes: Distribution Tables by Income Percentile

T23-0020 - Distribution of Individual Income Tax on Long-Term Capital Gains and Qualified Dividends by Expanded Cash Income Percentile, 2026

Distribution of income from long-term capital gains and qualified dividends and the individual income taxes paid on this income by expanded cash income percentile, under current law, 2026.

January 11, 2023
Individual Taxes: Distribution Tables by Income Level

T23-0021 - Distribution of Individual Income Tax on Long-Term Capital Gains and Qualified Dividends by Expanded Cash Income Percentile, 2032

Distribution of income from long-term capital gains and qualified dividends and the individual income taxes paid on this income by expanded cash income level, under current law, 2032.

January 11, 2023
Individual Taxes: Distribution Tables by Income Percentile

T23-0022 - Distribution of Individual Income Tax on Long-Term Capital Gains and Qualified Dividends by Expanded Cash Income Percentile, 2032

Distribution of income from long-term capital gains and qualified dividends and the individual income taxes paid on this income by expanded cash income percentile, under current law, 2032.

January 11, 2023
Individual Taxes: Distribution Tables by Income Level

T23-0013 - Distribution of Individual Income Tax on Long-Term Capital Gains and Qualified Dividends by Expanded Cash Income Level, 2022

Distribution of income from long-term capital gains and qualified dividends and the individual income taxes paid on this income by expanded cash income level, under current law, 2022.

January 11, 2023