Tag Archive: Tax Foundation

We’re Number 32!






” Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.

  On Monday the Tax Foundation, which manages the widely followed State Business Tax Climate Index, will launch a new global benchmark, the International Tax Competitiveness Index. According to the foundation, the new index measures “the extent to which a country’s tax system adheres to two important principles of tax policy: competitiveness and neutrality.” “





 ” A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high “drive investment elsewhere, leading to slower economic growth,” as the Tax Foundation puts it.

  By neutrality the foundation means “a tax code that seeks to raise the most revenue with the fewest economic distortions. This means that it doesn’t favor consumption over saving, as happens with capital gains and dividends taxes, estate taxes, and high progressive income taxes. This also means no targeted tax breaks for businesses for specific business activities.” Crony capitalism that rewards the likes of green energy with lower tax bills while imposing higher bills on other firms is political arbitrage that misallocates capital and reduces economic growth.

  The index takes into account more than 40 tax policy variables. And the inaugural ranking puts the U.S. at 32nd out of 34 industrialized countries in the Organization for Economic Co-operation and Development (OECD).”



Read more











‘Tax Freedom Day’ Falls Three Days Later This Year


Tax Freedom Day 2014 Map_0




” The day when the nation collectively has made enough money to pay its total tax burden for the year is three days later this year, according to a new report.

  According to a report released Monday by the Tax Foundation, this year Tax Freedom Day falls 111 days into 2014, on April 21.

  By April 21, to group says, Americans will have made enough to pay the $3 trillion in federal taxes and $1.5 trillion in state taxes — more than they will spend on food clothing and housing combined.”







   Bear in mind that that is the national average . If you live in a high tax state you could be a government slave for an additional couple of weeks before you “earn” anything for yourself and your family …




” If further broken down by state, residents of high tax states would see their Tax Freedom Day later than residents of lower tax states.

“This means a combination of higher-income and higher-tax states celebrate Tax Freedom Day later: Connecticut (May 9), New Jersey (May 9), and New York (May 4),” the authors write.”

Read more at DC Caller and at the Tax Foundation








US Corporate Income Tax Now the Highest Among Advanced Economies



” This week’s charts use data from the OECD and the Tax Foundation to show that the United States continues to lag far behind other developed countries in corporate income tax reform.

As the most recent data show, the United States has inherited from Japan the dubious distinction of imposing the highest corporate income tax rate (39.1 percent) in 2013. This year also marks the 15th consecutive year in which the U.S. corporate tax rate has exceeded the average OECD rate.”



” High corporate tax rates are a drag on the US economy and encourage companies to shift investments and jobs abroad to lower-tax jurisdictions. The combination of high-rates and a worldwide tax system makes the US corporate tax system even more punishing than it seems.”






Cigarette Taxes And Cigarette Smuggling By State





” Public policies often have unintended consequences that outweigh their benefits. One consequence of high state cigarette tax rates has been increased smuggling, as criminals procure discounted packs from low-tax states to sell in high-tax states. Growing cigarette tax differentials have made cigarette bootlegging both a national problem and a lucrative criminal enterprise.

Every two years, scholars at the Mackinac Center for Public Policy, a Michigan think tank, use a statistical analysis of available data to estimate smuggling rates for each state.[1] Their most recent report uses 2011 data and finds that smuggling rates generally rise in states after they adopt large cigarette tax increases. Smuggling rates have dropped in some states, however, often where neighboring states have higher cigarette tax rates. Table 1 shows the data for each state, comparing 2011 and 2006 smuggling rates and tax changes.

New York is the highest net importer of smuggled cigarettes, totaling 60.9 percent of the total cigarette market in the state. New York also has the highest state cigarette tax ($4.35 per pack), not counting the local New York City cigarette tax (an additional $1.50 per pack). Smuggling in New York has risen sharply since 2006 (+70 percent), as has the tax rate (+190 percent).”







Tax Foundation: Rich Pay Staggering Share Of Total Income Taxes



” The top 10 percent of taxpayers paid more than 70 percent of the total income tax revenue collected in 2010, according to research from the D.C.-based Tax Foundation. “That’s up from 55% in 1986,” CNN notes.

The remaining 90 percent paid just 30 percent, with 47 percent having no income tax liability.”





    Seeing this gave us an idea . Since the government has mandated “truth in advertising‘ as far as calorie , sugar , salt , carb content   is concerned regarding our dining habits when we eat out , perhaps Denny’s has struck upon the right idea . We propose that the restaurants, already forced to save us from our own voracious appetites and irresponsible spending habits  can do the same with regard to the government’s . 

    From now on each eating establishment , and there is no reason this idea can’t be successfully adapted to other businesses as well , shall post along with nutritional data , the data reflecting the reason their meal costs exactly what it does . Let’s give you an example , shall we ?  

   That $15 cheeseburger you are about to scarf down could be had for $6 if not for the omnipresent hidden costs imposed upon every business and inevitably passed on to you , the consumer . So if Joe Blow ducks into his local burger joint and drops $15 for lunch he gets a receipt that looks like this  :

                                                            1 Cheeseburger                                  $3.00           

                                                            1 Large Fry                                            $1.50

                                                            1 Large ( no more than 16oz)  $1.50


                                                            Food Cost w/Profit                           $6.00

                                                            Municipal Food Permit                $1.00

                                                            County Business Tax                     $1.50

                                                            State Business Tax                          $2.00

                                                            Federal Obamacare Tax             $1.75

                                                            Liability Insurance                       $1.75

                                                            Unemployment Insurance     $ 1.00


                                                           You Pay                                                   $15.00

                                                           Gratuity Not Included

                                                           Thank You , Please Come Again

                                                            Have A Nice Day !

Surely the itemized costs can be broken down even further but this is a quicky from our politics and sex scandal addled brains . Feel free to leave your own suggestions in the comments . Everyone should know the true cost of the government that they vote upon themselves .

   We here at YouViewed think that it is high time for the ignorant masses , existence proven beyond a shadow of a doubt 11/6 , to know exactly why everything costs what it does .There is no free lunch .  No more letting the government get away with hidden tax increases . Let the Obama Mama’s see that they are paying for that ” free ”  Obamaphone with every greasy fry that they ingest .  Mangia !