Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Think Tank Reports
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State Tax Revenues Surged 9% in 2011
Tax Foundation, State Tax Collections Rising in Post-Recession Recovery: After two years of falling revenue, total state government tax collections increased by nearly 9% during 2011, according to data released by the United States Census Bureau. Total collections were $757 billion last year, still slightly less than 2007 levels prior to the recession. … All…
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Tech Untaxed: Tax Avoidance in Silicon Valley
The Greenlining Institute, Tech Untaxed: Tax Avoidance in Silicon Valley, and How America’s Richest Company Pays a Lower Tax Rate than You Do: In this analysis we look primarily at high-tech companies, a sector of the economy that has boomed despite the recession, with a focus on 30 top tech companies listed in the Fortune…
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Just How Progressive is the U.S. Tax Code?
Adam Looney & Michael Greenstone (both of The Hamilton Project), Just How Progressive is the U.S. Tax Code?: [W]e examine the progressivity of the U.S. tax code and highlight two facts: the current U.S. tax system is less progressive than the tax systems of other industrialized countries, and considerably less progressive today than it was…
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Pew: Evaluating State Tax Incentives
The Pew Center on the States, Evidence Counts: Evaluating State Tax Incentives for Jobs and Growth: In their quest to strengthen their economies, particularly in the wake of the Great Recession, states continue to rely heavily on tax incentives, including credits, exemptions, and deductions, to encourage businesses to locate, hire, expand, and invest within their…
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Tax Policy Center Hosts Conference Today on Should the Rich Pay Higher Taxes?
The Tax Policy Center hosts its annual Tax Day Conference today at noon EST on Should the Rich Pay Higher Taxes? (live webcast here): Trillion-dollar deficits and heightened concern about income disparities are two of the most prominent legacies of the Great Recession. Both have prompted renewed discussion of raising taxes on high earners and…
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CBPP: Misconceptions and Realities About Who Pays Taxes
Center on Budget and Policy Priorities, Misconceptions and Realities About Who Pays Taxes: Close to half of U.S. households currently do not owe federal income tax. The Urban Institute-Brookings Tax Policy Center estimates that 46% of households will owe no federal income tax for 2011. A widely cited figure is a Joint Committee on Taxation…
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Hamilton Project: The Truth about Taxes — Just About Everyone Pays Them
The Hamilton Project, The Truth about Taxes: Just About Everyone Pays Them: A popular myth swirling around Washington, DC, and throughout the media these days is that many Americans do not pay taxes, and are therefore free-riding off of our society without contributing themselves. This has even been referred to by some as a “new…
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CTJ: Who Pays Taxes in America?
Citizens for Tax Justice, Who Pays Taxes in America?: It’s often claimed that the richest Americans pay a disproportionate share of taxes while those in the bottom half pay nothing. These claims ignore the many taxes that most Americans are subject to — federal payroll taxes, federal excise taxes, state and local taxes — and…
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Taxmageddon: Massive Tax Increase Coming in 2013
The Heritage Foundation, Taxmageddon: Massive Tax Increase Coming in 2013, by Curtis S. Dubay: If President Obama and Congress fail to act this year, an enormous, unprecedented tax increase will fall on American taxpayers starting on January 1, 2013. … This impending tax increase is mostly the result of the expiration of many long-standing policies that…
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Repealing the Estate Tax Will Not Create an Economic Boom
Following up on my prior post, Estate Tax Repeal Momentum Builds in the States: Institute on Taxation and Economic Policy, Repealing Estate Tax Will Not Create an Economic Boom: Since Tennessee Governor Bill Haslam proposed reducing the state’s estate tax in February, Tennessee lawmakers have shown increasing interest in this idea. Recently, a House subcommittee…
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We’re #1 (The Highest Corporate Tax Rate in the World)
Tax Foundation, The Countdown is Over. We’re #1: It’s official. After eight years of having the second-highest corporate tax rate among industrialized countries, the United States has now assumed the top spot following Japan’s scheduled corporate rate cut on April 1, 2012. Since 2001, Japan had levied the highest combined corporate tax rate among OECD…
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Obama’s Budget Raises Taxes for 27% of Households
Tax Policy Center, Tax Proposals in the 2013 Budget: The Tax Policy Center has released a resource guide to the tax provisions of President Obama's 2013 Budget. The guide includes descriptions of the proposals, links to more detailed commentary on key provisions, and a new TPC distributional analysis of the overall proposal as well as…
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The World’s Top Incomes Database
The World’s Top Incomes Database: The world top incomes database aims to providing convenient on line access to all the existent series. This is an ongoing endeavour, and we will progressively update the base with new observations, as authors extend the series forwards and backwards. Despite the database’s name, we will also add information on…
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CTJ: Eleven Policy Options to Raise $2.3 Trillion in Taxes
Citizens for Tax Justice, Policy Options to Raise Revenue: Congress has many options to raise revenue by closing tax loopholes and reducing tax subsidies. All federal taxes — the personal income tax, corporate income tax, payroll taxes, estate and gift taxes — are shot through with such tax breaks, many of which do more harm…
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Income of Top 1% Rose in 2010
Center on Budget and Policy Priorities, Incomes at the Top Rebounded in First Full Year of Recovery, New Analysis of Tax Data Shows; Top 1 Percent’s Share of Income Starting to Rise Again: Incomes of the top 1% of households, which fell in the financial crisis and Great Recession, rose strongly in 2010, the first…
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A Comparative Analysis of State Tax Costs on Business
The Tax Foundation and KPMG have released a 198-page study, Location Matters: A Comparative Analysis of State Tax Costs on Business: State and local taxes represent a significant business cost for corporations operating in the United States; in fact, they often have a material impact on net operating margins. Consequently, business location decisions for new…
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Pew, TPC: Raising Taxes on the ‘Rich’ Won’t Achieve 60% Debt-to-GDP Ratio
Reducing the Deficit by Increasing Individual Income Tax Rates: Amidst debates concerning the proposed “Buffett rule” and the impending expiration of the 2001/2003/2010 tax cuts, this has been a leading topic of discussion as policy makers consider ways to stabilize the deficit and debt. Focusing on three options – all assumed to be effective in…
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CTJ: GE Paid 2.3% Tax Rate on $81 Billion of Profits Over Past Ten Years
Citizens for Tax Justice, Press Release: General Electric's Ten Year Tax Rate Only 2.3 Percent: General Electric’s annual SEC 10-K filing for 2011 (filed February 24, 2012) reveals that the company paid at most 2.3% of its $81.2 billion in U.S. pretax profits in federal income taxes over the last 10 years. Huffington Post, GE…
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CBPP: Six Tests for Corporate Tax Reform Reform
Center on Budget and Policy Priorities, Six Tests for Corporate Tax Reform Reform: Congress may consider major changes to the corporate tax code this year. In light of the nation’s significant economic and budgetary challenges, a well-designed corporate tax reform proposal should: Contribute to long-term deficit reduction. Corporate tax revenues are now at historical lows…
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Tax Foundation Video: Winning on Corporate Taxes
The Tax Foundation has released its fourth tax video:
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Heritage: Nearly Half of All Americans Don’t Pay Income Taxes
Heritage Foundation: Chart of the Week — Nearly Half of All Americans Don’t Pay Income Taxes:
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Tax Foundation: Facts & Figures 2012
The Tax Foundation has released a free pdf version of its popular annual book, Facts & Figures 2012: How Does Your State Compare?: How do taxes in your state compare nationally? This convenient pocket-size booklet compares the 50 states on 37 different measures of taxing and spending, including individual and corporate income tax rates, business…