ITEP @iteptweets
Informing the debate on tax policy nationwide. ITEP provides research and data-driven solutions for more equitable and sustainable tax systems. itep.org Joined June 2010-
Tweets19K
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Followers9K
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Following561
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Likes6K
Gas and electric utility companies enjoyed the lowest federal tax rates from 2018-2022, collectively reporting a tax rate of -0.1%. This industry collectively paid zero federal income taxes over that five-year period taken as a whole. itep.org/corporate-tax-…
ECSTATIC to post this job on our team. Raise money to tax corporations and the wealthy! What could be more fun? itep.org/employment/dev…
An overwhelming 77% of registered voters in swing states approve of a tax on billionaires to bolster Social Security. bloomberg.com/news/articles/…
My conversation with @BrakeyshiaSamms at @iteptweets on The Black Tax itep.org/tax-history-ma…
In his new book, @andrewkahrl explores the consequences of inequitable and predatory property tax laws and how Black Americans fought back within this unjust and unbalanced system. @BrakeyshiaSamms talks with Professor Kahrl about his findings here. itep.org/tax-history-ma…
NEW: A whopping 82% of likely voters favor raising taxes on wealthy corporations. 79% favor raising taxes on the wealthiest individuals. 76% want to use the revenue to invest in child care and paid leave. We should absolutely make this happen. via @MomsRising @nwlc
NEW: An Institute on Taxation and Economic Policy study released on the heels of Tax Day reveals the large extent to which California's tax system is fairer — i.e., less regressive — than Florida's. @iteptweets floridapolicy.org/posts/floridia…
California taxes are close to the national average for families in the bottom 80% of the income scale. 16 states – including Florida and Texas - actually tax their poorest residents at rates higher than what California applies to its richest. itep.org/is-california-…
The richest 20% of the population starts at about $138,000 as of 2023. The cutoff for the richest 5% is $298,000. They can call themselves what they want, but point is that they are richer than most of the country and can afford to pay more. itep.org/what-do-we-mea…
The richest 20% of the population starts at about $138,000 as of 2023. The cutoff for the richest 5% is $298,000. They can call themselves what they want, but point is that they are richer than most of the country and can afford to pay more. itep.org/what-do-we-mea…
41 of 50 states tax the top 1% at lower rates than low- or middle-income families. This regressive approach is due for serious revision. It results in tax policies that serve the interests of the wealthy rather than meeting the needs of communities. itep.org/the-case-for-m…
New polling from @nwlc and @MomsRising found nearly 80% of respondents supported increasing investments in the caregiving agenda by raising taxes on the wealthiest and big corporations. commondreams.org/opinion/tax-da…
In our new State Rundown: Kansas sends a new tax cut package to Gov. Kelly. S&P Global Ratings lowers Mississippi’s credit outlook, citing concerns over deep personal income tax cuts & budgeting woes. Maine looks to add progressivity to its income tax. itep.org/state-rundown-…
Important context from @iteptweets for the California tax narrative: People w/ lower incomes pay more in state & local taxes in many other states than they do in CA. And 16 states tax ppl w/ the lowest incomes more heavily than CA taxes its richest. Let that sink in!
Important context from @iteptweets for the California tax narrative: People w/ lower incomes pay more in state & local taxes in many other states than they do in CA. And 16 states tax ppl w/ the lowest incomes more heavily than CA taxes its richest. Let that sink in!
It’s time states build an economy that works for *everyone* by applying a #BlackWomenBest framework to center Black women in tax policy: cbpp.org/research/state…
California taxes are close to the national average for families in the bottom 80% of the income scale. 16 states tax their poorest residents at rates higher than what California applies to its richest. Florida and Texas are among those 16 states. itep.org/is-california-…
5. When you look at total taxes (federal, state, and local), the American tax system is BARELY progressive. The wealthy pay only slightly more in taxes than their income share. This is because most state and local taxes are regressive, taking a larger percentage of income from…
Your #TaxDay reminder that better IRS funding has widespread benefits. Wait times have been cut down to three minutes this tax season. And Commissioner Werfel continues to highlight increased scrutiny on complex filers where there’s risk of tax evasion. apnews.com/article/irs-cu…
America’s tax system is just barely progressive, and not nearly as progressive as many suggest or as progressive as it could be. There's plenty of room for lawmakers to improve the tax code to combat economic, wealth, and racial inequality. itep.org/who-pays-taxes… #TaxDay
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ECSTATIC to post this job on our team. Raise money to tax corporations and the wealthy! What could be more fun? itep.org/employment/dev…
.@iteptweets spotlighted three localities, #NYC, Montgomery County, #Maryland, and #SanFranscisco that are investing in their communities by boosting after-tax incomes through refundable #EITCs. itep.org/three-local-ei…
My conversation with @BrakeyshiaSamms at @iteptweets on The Black Tax itep.org/tax-history-ma…
State & local tax codes can do a lot to reduce inequality. But they add to the growing income inequality problem. These regressive tax codes also result in higher tax rates on communities of color, further worsening racial income and wealth divides. itep.org/fairness-matte…
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"As for fixing the immediate problems with property tax administration and enforcement...Ensuring that these laws are applied fairly and without favor won’t solve these problems, for the laws themselves are the problem." Will def be picking up a copy of @andrewkahrl's new book.
In his new book, @andrewkahrl explores the consequences of inequitable and predatory property tax laws and how Black Americans fought back within this unjust and unbalanced system. @BrakeyshiaSamms talks with Professor Kahrl about his findings here. itep.org/tax-history-ma…
NEW: An Institute on Taxation and Economic Policy study released on the heels of Tax Day reveals the large extent to which California's tax system is fairer — i.e., less regressive — than Florida's. @iteptweets floridapolicy.org/posts/floridia…
#ICYMI: We recently shared insights from @iteptweets’ response to President Biden’s State of the Union speech and emphasized the need for bipartisan cooperation and evidence-based policymaking to address economic inequalities. taxcreditsforworkersandfamilies.org/tcwf-news/advo…
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-…
Boss out today w/ a new must-read report: state tax systems often serve to further entrench white wealth & power at others' expense. But a different approach, that centers Black women & communities, could help unlock a future of shared prosperity for everyone.
It’s time states build an economy that works for *everyone* by applying a #BlackWomenBest framework to center Black women in tax policy: cbpp.org/research/state…
It’s time states build an economy that works for *everyone* by applying a #BlackWomenBest framework to center Black women in tax policy: cbpp.org/research/state…
‼️ You read that right: those with the lowest incomes pay the highest percentage of their income in state and local taxes in NC! Let's demand equitable tax policies like keeping the corporate income tax, and funding a state EITC and CTC: ncbudget.org/taxday2024
ITEP points out that "Concerns over property tax affordability have been at the forefront this year as housing prices have climbed and property tax bills have often increased", but that many states are talking about the wrong kind of property tax cuts itep.org/states-are-tal…
At Wednesday's #INLegis Tax Task Force meeting, I'll be listening for proposals that would address the fact that the lowest 20% of Hoosier earners pays nearly 3X share of their incomes in #PropertyTaxes as the top 1%. A property tax 'circuit breaker' would help this burden.
Just trying to tax the rich with this amazing group of colleagues. @iteptweets
#TaxDay is a reminder of the responsibility we deliver to our country & our neighbors to ensure we all have reliable healthcare, renowned schools, & robust roads. Our investment in this country is an important way for us to secure economic & racial justice for all. #TaxTwitter
NEW: The goal of 100,000 taxpayers successfully filing their returns as part of the Direct File Pilot Program has been met. Interest has surged in recent days, with more than 50,000 taxpayers successfully filing over the past week. 👏👏👏
New @iteptweets Chart Book finds: 👎Indiana has one of the most lopsided tax codes in the US 👎The wealthiest 1% are the lowest-taxed in IN 👎Modest income families pay *more* in IN 👎IN's reliance on sales & excise taxes increases inequality, burdens modest-earning Hoosiers more
Too many states take a greater share of income from low- & middle-income families than from the wealthy. But it doesn't have to be this way. On #TaxDay, we're showing how tax systems widen inequality across the country and looking at better ways forward. itep.org/fairness-matte…
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