-
Retail sales taxes account for 32% of state tax collections, 13% of municipal tax collections, and 24% of all tax collections, making them a crucial component of most states' revenue strategies. Additionally, since they generate fewer economic distortions than the individual income tax, the other significant state tax, they are more pro-growth.
-
President Biden just proposed $4.7 trillion in tax increases on businesses and individuals, raising U.S. tax rates to some of the highest in the developed world.
-
IRS management has tended to view its role as chasing tax cheats, not helping people navigate the confusing tax code.
-
(Temporary) victory! The IRS has paused its intrusive demand that all payments amounting to $600 be reported to the government.
Retail sales taxes account for 32% of state tax collections, 13% of municipal tax collections, and 24% of all tax collections, making them a crucial component of most states' revenue strategies. Additionally, since they generate fewer economic distortions than the individual income tax, the other significant state tax, they are more pro-growth.
