Taxes

Estate and inheritance taxes are burdensome. They disincentivize investment and can drive high-net-worth individuals out of state. They also yield estate planning and tax avoidance strategies that are inefficient, not only for affected taxpayers but also for the economy at large. The handful of states that still impose them should consider gradually eliminating them or

UK Windfall Taxes: Details & Analysis Skip to content Home • Blog • Are Windfall Taxes Becoming the New Normal in the UK? Even though energy prices have declined from their recent peak, the United Kingdom is one of the few countries in Europe continuing to rely on windfall profits taxes to support households with

Super-Rich Effective Tax Rates: US Treasury Report Skip to content Home • Blog • The Super-Rich Pay Super-Amounts of Taxes, New Treasury Report Finds A common refrain from many progressive lawmakers is that the rich don’t pay their fair share of taxes. “Fair share” is, of course, subjective. But a new Treasury study provides data

Blog July 24, 2024October 30, 2024 Where Does Kamala Harris Stand on Taxes? While both President Biden and Vice President Harris aim their proposed tax hikes on businesses and high earners, key differences between their tax ideas in the past reveal where Harris may take her tax policy platform in the 2024 campaign. 6 min

Spain’s Poorly Designed Tax Policy Hurts Its Competitiveness Skip to content Home • Blog • Spain’s Poorly Designed Tax Policy Hurts Its Competitiveness Spain’s central government could learn some valuable lessons from its regional governments and other European countries about sound taxA tax is a mandatory payment or charge collected by local, state, and national

How Will the Trump Tariffs Impact the US Economy? Skip to content Home • Blog • How Will Trump’s Universal and China Tariffs Impact the Economy? President-elect Trump has promised to impose steep new taxes on trade, including a 10-20 percent tariff on all imports, at least a 60 percent tariffTariffs are taxes imposed by

Premium Cigar Taxes by State, 2024 | Tax Foundation Skip to content Table of Contents Over 500 million premium cigars were sold in the United States in 2023. With each sale comes a complex taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Repealing Head of Household Filing Status: Details and Analysis Skip to content Home • Blog • Repealing Head of Household Filing Status: Details and Analysis As lawmakers prepare for the debate over the expiration of the 2017 TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or

Trump Tariffs: Revenue Estimates | Tax Foundation Skip to content Home • Blog • Revenue Estimates of Trump’s Universal Baseline Tariffs President-elect Donald Trump has proposed to implement a universal baseline tariffTariffs are taxes imposed by one country on goods imported from another country. Tariffs are trade barriers that raise prices, reduce available quantities of

Gary Robbins: Our Mentor in Tax Policy Skip to content Home • Blog • Tax Foundation Economists Mourn the Loss of Our Mentor in Tax Policy: Gary Robbins The best advances in life and society come from people willing to buck conventional wisdom. People willing to say, “what if?” and “why not?” At a time

Did you purchase an electric vehicle (EV) recently? Many EVs, plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles (FCVs) can score you a nice tax break. Let’s see if you qualify and, if so, how to claim this tax credit. What is the electric vehicle tax credit? Officially called the Qualified Plug-In Electric Drive

Property Tax Relief & Reform Options | Tax Foundation Skip to content Table of Contents Key Findings Property values have skyrocketed in recent years, rising almost 27 percent faster than inflationInflation is when the general price of goods and services increases across the economy, reducing the purchasing power of a currency and the value of