The Real Lesson of 70 Percent Tax Rates…

Key Findings Recent debates over income inequality have focused on the role of higher income tax rates during the 1930’s through the 1980s. Some assert these higher rates reduced income inequality, relative to today, when…

State and Local Sales Tax Rates, 2019

Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states…

What the U.S. Can Learn from the Adoption…

Recent discussions of a proposed wealth tax for the United States have included little information about trends in wealth taxation among other developed nations. However, those trends and the current state of wealth taxes in…

Implementing Phase Three of Individual Income Tax Cuts…

Yesterday, Governor Hutchinson and legislative leaders in Arkansas announced their final plan for restructuring Arkansas’s individual income tax brackets. After more than 18 months of study, the Arkansas General Assembly will consider the plan starting…

Income Taxes on the Top 0.1 Percent Weren’t…

Lawmakers have recently announced plans that would increase the tax burden on wealthy Americans, ranging from higher marginal income tax rates to wealth taxes. These proposals are flawed in several ways, including in their lack…

Government Shutdown 2019 Update: You Can File Now…

Today, the President announced plans for a temporary end to the Government Shutdown until February 15. Although the IRS previously confirmed the Government Shutdown would not impact processing tax returns, with filing season beginning on…

E-File is Now Open: Why You Should File…

Today, January 28, the IRS officially kicked off the opening of the 2019 tax season and is now accepting e-filed tax returns. As we all know, some taxpayers wait until last minute to file their…