Joe Hughes @JoeHughesTax
Econ and tax policy nerd @ITEPtweets. Tennessee boy. Personal account. Joined March 2023-
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Tennessee is a supposed low tax state but in fact, low income working families pay more than their peers in "high tax" states -- and more as a % of income than their well off neighbors.
Tennessee is a supposed low tax state but in fact, low income working families pay more than their peers in "high tax" states -- and more as a % of income than their well off neighbors.
One of the most regressive tax systems in the nation, Tennessee taxes poorer households at higher rates while generating less revenue than most states. That leads to lower funding for education, health, & other investments that benefit working families. thinktennessee.org/press/tennesse…
News from @doug_sword and me: Another speed bump for the tax bill? Sen. Crapo now says the inclusion of a nearly full offset in the package would set a bad precedent for next year’s TCJA tax negotiations. House GOP taxwriters have a different view. taxnotes.com/tax-notes-toda…
Is California really a high tax state? California has lower taxes for its bottom 40 percent of earners than either Texas or Florida. Great work from @EliByerlyDuke and @carlpdavis itep.org/is-california-…
I’m continually amused at how these takes pop up like once a week from #smartconservatives saying the GOP would be SO AWESOME if it was just a different party that actually wanted to achieve anything at all and in fact mostly resembled Dems on policy. thehill.com/opinion/financ…
This is an excellent take on the decision to keep the IRS funding flat, from @JoeHughesTax @iteptweets: It might be politically necessary but it's a misguided policy because it's a de facto cut, and will only increase the deficit and hurt honest taxpayers.
This is an excellent take on the decision to keep the IRS funding flat, from @JoeHughesTax @iteptweets: It might be politically necessary but it's a misguided policy because it's a de facto cut, and will only increase the deficit and hurt honest taxpayers.
NEW: “In an election over the cost of living, we have a candidate who’s proposing a $1,500 tax increase.” @Brendan_Duke via @semafor @josephzeballos semafor.com/article/03/27/…
Bizarre to blame inflation for the woes of dollar stores. Rural ppl will tell you how these stores popped up like mushrooms over the past decade, and most often have one employee stocking as well as running the register. Over-extended and undermanned. washingtonpost.com/business/2024/…
Two gold stars for Denmark: 🌟for the highest capital gains tax rate in Europe according to this @TaxFoundation compilation 🌟for being the home to Europe's largest, most valuable company (Novo Nordisk) Taxes are not at odds with innovation and growth. They actually support it.
Two gold stars for Denmark: 🌟for the highest capital gains tax rate in Europe according to this @TaxFoundation compilation 🌟for being the home to Europe's largest, most valuable company (Novo Nordisk) Taxes are not at odds with innovation and growth. They actually support it.
Worth noting Biden's tax on unrealized gains would only affect people worth more than $100mil...
Worth noting Biden's tax on unrealized gains would only affect people worth more than $100mil... https://t.co/PCTmwEA780
2.) The Biden budget raises about $5T in revenue from the wealthy and large corporations. That sounds big, but we would continue to be a low-tax country if it passed. We would shoot up in the ranking of tax revenue as a share of the economy from 29 out of 36 to... 29 out of 36.
Earlier this week, FACT submitted comments on the 🇦🇺gov's revised public country-by-country reporting (CbCR) legislation. FACT praised the gov's previous draft as "groundbreaking." Curious about what's changed, and how the new draft stacks up? Follow along here (🧵1/15)
President's Budget shows that you can: - Invest in the middle class - Bring down costs on drugs, housing, child care, healthcare - Reduce poverty - Protect Social Security and Medicare - Put the budget on a responsible course The not-so-secret sauce: taxing the rich.
President Biden's FY25 budget would cut deficits by $3.3 trillion over the next 10 years. cc: @BudgetHawks
.@POTUS reminds us that with expanded #ctc we cut child poverty in half. When congress let that policy expire, child poverty doubled last year. Congress, strengthen the child tax credit now! #SOTU #taxtherich #carecantwait
Republicans boo their own agenda to cut taxes for billionaires and large corporations because they know how unpopular it is. 🤪
Tax policy will brought up tonight in President Biden's State of the Union address. Here's a great breakdown from @iteptweets on what to expect, how much it will raise, and what it means for tax fairness. #EconTwitter #TaxTwitter itep.org/biden-tax-prop…
Today's Xcel Energy Incorporated scorecard: 1,076,638 acres destroyed by fire 0$ paid in Federal Corporate Income Tax
Today's Xcel Energy Incorporated scorecard: 1,076,638 acres destroyed by fire 0$ paid in Federal Corporate Income Tax
From 2018-2022 Xcel Energy profits: $7.5 billion Xcel Energy effective tax rate: -0.6%. Over that span, the company received about $1.5 billion in tax breaks with the explicit goal of encouraging infrastructure investments. itep.org/corporate-tax-…
From 2018-2022 Xcel Energy profits: $7.5 billion Xcel Energy effective tax rate: -0.6%. Over that span, the company received about $1.5 billion in tax breaks with the explicit goal of encouraging infrastructure investments. itep.org/corporate-tax-… https://t.co/T2ud4zFeC1
Over the past five years Xcel has had an effective federal tax rate of -0.6% (yes that's a negative), per @iteptweets itep.org/corporate-tax-…
Over the past five years Xcel has had an effective federal tax rate of -0.6% (yes that's a negative), per @iteptweets itep.org/corporate-tax-…
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News from @doug_sword and me: Another speed bump for the tax bill? Sen. Crapo now says the inclusion of a nearly full offset in the package would set a bad precedent for next year’s TCJA tax negotiations. House GOP taxwriters have a different view. taxnotes.com/tax-notes-toda…
Yeah I mean I’ve been thinking Boeing’s problems must be pretty bad since they murdered that guy.
Boeing’s problems were as bad as you thought trib.al/fXdqRJx
Just trying to tax the rich with this amazing group of colleagues. @iteptweets
Who pays taxes in America? @iteptweets provides a comprehensive answer: itep.org/who-pays-taxes…
@ncommonsense @BidenHQ She was in the ICU for sepsis. The pill and condoms have nothing to do with that.
@ncommonsense @AshleyFoxRPN @BidenHQ they planned the pregnancy… water broke at 18 weeks.. read!! inform yourself!!! 🤦🏽♀️🤦🏽♀️
@kausmickey @SteveRattner Credit to @jdcmedlock
@kausmickey @SteveRattner Look at the chart again
Great to share a zoom screen with these fierce budget advocates.
Food for thought: Dems have moved away from carbon taxes/cap & trade as climate policy since the politics of raising prices on goods is bad. Trump's $300B tariff tax is about four times the size of CBO's revenue estimate of a carbon tax (~$80B a year). cbo.gov/budget-options…
The Trump campaign routinely suggests he would help w/ the cost of living. A new @CAPAction analysis by Ryan Mullholland and me dives in and shows the opposite: he would *raise* taxes $1,500 for a typical family w/ a 10% tariff on all imported goods. 🧵 americanprogressaction.org/article/trumps…
Trying to think of any other situation where this would be the WH response to a United States citizen being killed by a foreign government while performing international aid work.
NSC Spokesperson John Kirby: There is no evidence that Israel deliberately struck and killed WCK aid workers in Gaza. Kirby adds that to date, the US has found no instances where Israel has violated international humanitarian law in their war with Hamas.
This is an excellent take on the decision to keep the IRS funding flat, from @JoeHughesTax @iteptweets: It might be politically necessary but it's a misguided policy because it's a de facto cut, and will only increase the deficit and hurt honest taxpayers.
After getting a significant funding boost from the Inflation Reduction Act, the IRS has proven it can be a competent public resource when it has the tools it needs. Continued attempts to slash the agency's budget are severely misguided. itep.org/congress-shoul…
@JimPethokoukis this is basically the Biden administration. Funding nuclear, supporting YIMBYism, the CHIPS act, etc.
Every decent policy proposal from center-right wonks: “Step 1, imagine we have replaced the GOP primary electorate with open-minded Democrats”
Imagine if the GOP presidential nominee were running on a hard-core "it's time to build" platform: permitting deregulation, energy and housing abundance, big-time science funding, even the orbital economy. Instead, we get kvetching about stolen elections and trade shocks. 😵💫
NEW: “In an election over the cost of living, we have a candidate who’s proposing a $1,500 tax increase.” @Brendan_Duke via @semafor @josephzeballos semafor.com/article/03/27/…
I love Scott when he’s railing against the evils of the Jones Act but then he’s like “school lunch programs are bad” and I remember why I will never be a libertarian lmao
🚨NEW TODAY🚨@CatoInstitute has launched Spending Madness 2024, pitting 32 wasteful federal spending programs head‐to‐head in a single‐elimination tournament that runs thru April 11: cato.org/2024-spending-… Click on the bracket at the link & vote for the programs YOU want cut.
Enjoy retirement, Rick
Barnes: "There's nothing they did that we can't fix, but understand: there's no more fixing."
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