Summary of the Latest Federal Income Tax Data, 2023 Update
The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.
43 min read
Featured Articles
What’s Missing from the Tax Burden Debate
When we discuss tax policy, the conversation inevitably turns to who pays, who should pay, and how much they should pay. Unfortunately, the tax burdens debate is often missing a key point: how income transfer programs—like Social Security or Medicaid—affect households’ tax burdens.
State and Local Tax Burdens, Calendar Year 2022
Tax burdens rose across the country as pandemic-era economic changes caused taxable income, activities, and property values to rise faster than net national product. Tax burdens in 2020, 2021, and 2022 are all higher than in any other year since 1978.
24 min readAll Related Articles
Tracking the 2020 Presidential Tax Plans
2 min read
Biden-Harris Proposals Can Raise Taxes on the Middle Class
If we look at both the legal incidence of the Biden-Harris policy proposals and their economic incidence, we find both direct and indirect tax increases on many taxpayers who earn less than $400,000.
2 min read
Congressional Budget Office Releases 2017 Data on Household Income and Tax Burdens
Contrary to the perceptions of some, new data indicate that (1) income earned after taxes and transfers has increased over the past several decades for all income groups; (2) the federal tax system is increasingly progressive; and (3) that system relies heavily on higher earners to raise revenue for government services and means-tested transfers.
3 min read
State and Local Tax Ballot Measures to Watch on Election Day 2020
Here are the state tax ballot measures to watch on Election Day 2020. Explore the most notable 2020 state tax ballot measures in 15 states.
4 min read
Seventh Time’s the Charm: New Jersey Passes Millionaires Tax
After six unsuccessful tries at passage, it appears the coronavirus crisis has tipped the scales in favor of Gov. Phil Murphy’s (D) millionaires tax. New Jersey may be feeling the financial squeeze right now, but this large income tax change will not solve budget problems and may exacerbate funding issues by making the state even unfriendlier to businesses.
3 min read
Joe Biden’s Tax Plan Explained
Depending on the outcome of the 2020 presidential election, we could be looking at a very different tax code in the years to come. What tax changes has former Vice President Joe Biden proposed and what would they mean for U.S. taxpayers, businesses, and the overall economy?
Reviewing Joe Biden’s Tax Vision
Biden’s tax vision is twofold: higher taxes on high-income earners and businesses paired with more generous provisions for specific activities and households.
4 min read
Contrary to Popular Belief, Value-Added Taxes Found to Be Slightly Progressive
Value-added taxes (VAT) are traditionally considered regressive, meaning they place a disproportionate burden on low-income taxpayers. However, a recent OECD study used household expenditures micro-data from 27 OECD countries to reassess this conclusion.
5 min read
Where Does Kamala Harris Stand on Tax Policy?
What tax policy ideas did Harris propose along the campaign trail, and how do they differ from Biden’s plan?
4 min read
Brazil has the Opportunity to Implement a Simple Consumption Tax and Foster Tax Progressivity at the Same Time
Brazil has one of the world’s most complex tax systems. Brazil has the opportunity to implement a simple consumption tax and foster tax progressivity at the same time.
5 min read
