Tax Foundation

The individual income tax raises more than 27 times as much revenue as tariffs currently do, but it’s not the gap in revenue levels that makes replacement impossible. https://hubs.ly/Q039QXll0

Property taxes remain by far the most important source of local revenue in the United States, generating about 72 percent of local tax collections. https://hubs.ly/Q039QSD60

The top 5 states experiencing out-migration are: 1. California 2. New York 3. Illinois 4. Massachusetts 5. New Jersey Explore the data: https://hubs.ly/Q039ZRbz0

The 15 counties with the highest median property tax payments all top $10,000: ??California: Marin County ??New Jersey: Bergen, Essex, Hunterdon, Morris, Passaic, Somerset, Union ??New York: Nassau, NYC, Putnam, Rockland, Suffolk, Westchester ??Virginia: Falls Church City https://hubs.ly/Q039ZPyN0

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?? 2025 Conference: New Directions in Tax Policy: Budgetary and Other Challenges of an Increasingly Complex Tax Code. Join us on Thursday, April 10 for a joint conference hosted by the Tax Foundation, University of North Carolina Tax Center, and Massachusetts Institute of Technology that will provide timely information regarding the challenges that Congress creates for itself when proposing policies with uncertain economic and budgetary impacts. Speakers will include some of the country’s leading tax policy minds. Register: https://lnkd.in/ek8zykeE

In the past 5 years, many states have altered their individual income tax structure from a graduated rate to to a single-rate (flat) income tax structure. The flat tax structure provides many economic benefits to taxpayers, including simpler tax liability calculation and greater certainty in economic decision-making. Learn more: https://hubs.ly/Q039QT6P0 #incometax

With property tax bills on the rise, homeowners are searching for answers—and some even want to abolish the tax altogether. In this episode of The Deduction, we break down why property taxes are increasing, discuss common but flawed solutions, and explain why the property tax remains an economically efficient revenue source. Take a listen: https://hubs.ly/Q039KPXD0 #propertytax

There's a lot going on with fiscal policy right now, including major tax reform working its way through Congress. Keep up with the latest on the budget reconciliation process with our new tracker! https://lnkd.in/eA29E2C9

Sales taxes matter. Sales taxes account for 30.4 percent of all state tax revenue, second only to individual income taxes (37.7 percent), and are a meaningful source of local tax revenue. They win high marks for their stability and economic efficiency, but are often criticized for their complexity for remote sellers and potential regressivity, both real and perceived. Read more: https://hubs.ly/Q039QT6N0 #salestax #taxreform