News
National Journal | How the Makers of TurboTax Are Trying to Keep Doing Your Taxes Annoying
Imagine a world where, instead of having to manually fill out the same boxes on your tax forms every year, the IRS filled out your paperwork for you in advance and told you how much they think you owe, using information the IRS already gets from banks and employers. If you agreed with their estimate, you could just sign the paperwork and return it. If you disagreed with their estimate, you could file your taxes the way you have been doing.
Econ Comments & Analysis
FOX Business | Corporate Cash Kings Escape U.S. Taxes
Walgreen isn’t the only company under pressure, including by shareholders such as Goldman Sachs, to move its headquarters overseas due to high U.S. taxation.
Real Clear Markets | A Truly Absurd Tax Code Illustrates the Need for Rational Reform
Tax season is over for all but the greatest procrastinators among us. Two-thirds of taxpayers are celebrating their forthcoming refunds while tens of millions of others have grudgingly written a check to the IRS. Either way, this is the time of year when Americans are most acutely aware of the federal income tax system and all its flaws.
Fortune | How to get Americans to save more at tax time
Reminding people of the risks of unexpected financial shocks, such as unemployment and hospitalization, may not be as big of a motivator as automatically enrolling people in a savings plan.
Blogs
Heritage Foundation | 2014 Tax Day Chart: Who Pays the Most?
Despite calls for more taxes on the rich, the Heritage chart shown above reveals that the recent tax increases disproportionately affect the working wealthy. The top 10 percent of all income earners paid 71 percent of federal income taxes in 2010, yet they earned 45 percent of all federal income. Compare that to the bottom 50 percent of earners, who earn 12 percent of income yet pay only 2 percent of federal income taxes.
