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Most Americans are aware that the nation's tax burden falls most heavily on upper-income households. But what's often ignored is who benefits-and who ...
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For 18 consecutive years the Tax Foundation has published an estimate of the combined state-local tax burden shouldered by the residents of each of the 50 states. For each state, we calculate the total amount paid by the residents in taxes, and we divide those taxes by the total income in each state to compute a "tax burden" measure. In 2008, the residents of three states stand above the rest, paying the highest state-local tax burdens in the nation: New Jersey, New York and Connecticut. They are the only three states where taxpayers give up more than 11% of their income in state-local taxes. Alaskans pay the least, 6.4% in 2008, but Nevada is close at 6.6%. In four states - Wyoming, Florida, New Hampshire and South Dakota - the residents pay between 7% and 8% of their income in state-l...
... data are revised periodically by government agencies, and in the case of the current report, w... this annual tax burden report allows policymakers, researchers, media, and citizens to go beyond a t... the list for two principal reasons, high spending by the home state governments and high tax payment...
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As director of policy research for the nonprofit Commonwealth Foundation for Public Policy Alternatives, Nathan A. Benefield has researched and written on issues ranging from taxes and government spending to health care policy and economic development. He frequently has testified before Pennsylvania House and Senate committees on issues such as the state budget, transportation funding, privatization and education.
We spoke by telephone Tuesday as Gov. Tom Corbett prepared to unveil a budget next week that some say should not include funding for Pennsylvania's Film Tax Credit.
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In 1932, President Hoover received a letter from a man in Illinois that read simply, "Vote for Roosevelt and make it unanimous." Based on its recent floundering, it seems even the White House recognizes that Obamanomics has been a disaster. It's nearly unanimous now.
When President Reagan entered office, America faced a deep recession with double-digit unemployment and inflation, plus dishearteningly long gas lines. Rather than wasting time blaming his predecessor, the Gipper went right to work unveiling Reaganomics - an embrace of the free market - which included four simple principles: (1) lower tax burden, (2) lower government spending, (3) lower regulatory burden, and (4) a strong dollar monetary policy.
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WASHINGTON - Weary after a year of partisan bickering, lawmakers reached a tentative agreement Monday on a sprawling $1 trillion- plus spending bill that chips away at military and environmental spending but denies conservatives many of the policy changes they wanted on social issues, government regulations and health care.
Environmentalists succeeded in stopping industry forces from blocking new clean air regulations and a new clean water regulation opposed by mountaintop removal mining interests. But anti-Castro lawmakers appeared likely to win concessions that would weaken administration efforts to ease restrictions on Cuban immigrants on travel to the island and sending cash back to family members there.
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When President Obama came into office, he promised change. Unfortunately, his idea of change involved a massive, unsustainable federal spending spree and unprecedented expansion of government into health care, financial markets, and a restrictive energy policy that locks up domestic energy. Now that Obama has brought our nation even closer to an economic crisis, House Republicans are promoting a way forward that will save our country from insolvency. That blueprint is the 2012 Path to Prosperity budget put forward initially by Representative Paul Ryan, and which I support.
This Republican budget fundamentally changes the way Washington taxes and spends. The plan reduces the highest business tax rate while also eliminating many of the loopholes that have allowed some corporations to avoi...
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What do you think would happen to stock market prices if President Obama announced he was no longer going to push for increased taxes on capital gains, dividends, Social Security, small business, death and energy?
The easy bet is stock prices would rise, but unfortunately just fixing the fiscal side of the economy may not be enough to reverse the downturn. Fiscal policy refers to government tax, spending and regulation policy. Monetary policy refers primarily to the actions of the Federal Reserve in controlling the growth of the money supply.
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NEW YORK, July 1 /PRNewswire/ -- North America's top chief financial officers (CFO) remain predominantly optimistic about their companies' prospects despite governmental actions weighing heavily on their minds. These are some of the key findings of Deloitte's first quarterly CFO Signals survey and report, which tracks the thinking and actions of more than 130 leading CFOs -- representing many of North America's largest and most influential companies.
Nearly two-thirds of those surveyed say they are more optimistic about their companies' prospects than they were in the previous quarter and less than one CFO out of five is more pessimistic. CFOs of all eight surveyed industries (which excludes government and public sector entities), project year over year gains in both sales and earnings ...
... survey found that social and environmental policy, regulation and health reform topped CFO lists of ...
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Repackaging may work for cereals or Hollywood stars, but informed citizens won't be fooled by such gimmickry when it comes to government spending, taxes, health care and energy policy. Congress should focus on creating a business environment that isn't burdened by excessive regulation and the looming threats of energy taxes, reckless spending, tax increases and a massive restructuring of our healthcare system. A clean-energy standard is just another gimmick to increase the price of energy from sources that emit carbon dioxide.
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WASHINGTON - The House passed a spending bill Tuesday to fund the government for six weeks, delaying a series of battles over spending and policy that include everything from labor law and environmental regulations to abortion and the Pentagon budget.
The 352-66 vote sent the measure to President Barack Obama in time to avert a government shutdown at midnight. That ended a skirmish over disaster aid that seemed to signal far more trouble ahead as Obama and a bitterly divided Congress begin working on ironing out hundreds of differences, big and small, on a $1 trillion- plus pile of 12 unfinished spending bills.