News
Politico | Puff, puff: Pass the tax break
Pot shops are banned from writing off labor, rent, health insurance, advertising costs or other expenses that most companies deduct to lower their tax bills. The result is a tax rate as high as 80 percent, according to the industry, for those in the 20 states with legal medical marijuana and the two states with recreational pot.
Econ Comments & Analysis
CATO | Tax Revolt! It’s Time to Learn from Past Success
For about 15 years now, the federal government, in all its myriad activities, has been in major expansion mode. The Federal Reserve, the regulatory apparatus, the tax code, the police and surveillance machinery of the state — all of these extensions of the government have broadened their reach, power, and ambition in significant fashion since the late 1990s.
Blogs
Library of Economics | Marginal Tax Rates: Singing Taxman to My Class
Often, when I teach my classes about marginal tax rates, I give them a little history about such rates. They're shocked when I tell them that the top U.S. federal marginal tax rate on individual income in the 1950s and early 1960s was 91 percent.
