Disparity of income has been a preponderate subject for politicians and activist groups for some time, yet in the end, it’s those that earn the higher incomes that pay for the majority of taxes. An estimated 77.5 million Americans, identified as households, pay no federal income tax. The non-partisan, non-profit tax group known as The Tax Policy Center released income …
Which States Have the Highest Gas Tax – Fiscal Policy
Many states continue to grapple with the effects of falling fuel prices. Resource-heavy states like Alaska are particularly hard hit. Even states that do not produce gasoline are being affected. The lower fuel costs are bringing in less gas tax revenue in some states causing budget deficits. Taxing gasoline is controlled by the states, not the federal government, allowing states …
Trump Tax Proposals – Fiscal Policy
A new presidency usually brings the promise and hope of a more efficient government, lower taxes and a simpler approach. With a new administration now in place, the pursuit of these ideals is in play. Trump’s proposals aim to simplify taxes by reducing the number of brackets from the current seven, to three. Some argue that this simplification may actually …