Posts filed under “Taxes and Policy”
Roads are crumbling, bridges are collapsing, and what was once considered one of the greatest achievements of any government anywhere has fallen into embarrassing disrepair. I am of course discussing our nation’s infrastructure. Last year, the American Society of Civil Engineers gave the U.S. infrastructure a D+.
When it comes to the most basic functions of government we barely get a passing grade.
How did this happen? Credit a combination of benign neglect and anti-tax ideology run amok.
The Revenue Act of 1932 created the U.S.’s federal gasoline tax, charging 1 cent a gallon. Three decades later, President Dwight D. Eisenhower signed the Federal Aid Highway Act of 1956.That created one of the world’s great transportation networks, the interstate highway system, at an inflation-adjusted cost of about a half-trillion dollars. ( See the History of the Interstate Highway Systemfor more details.) Continues here
Since its Tax Day, I thought we might take a look at where your tax dollars go and where they come from. The first chart is Federal Revenues — what the sources of cash are from all sources. As you can see, the biggest revenue line is individual income taxes, accounting for 46% of revenues….Read More
On Tax Day, Taxpayers Pick up $8 Billion Tab for Walmart and the Walton Family Report Provides State-by-State Estimates of Revenue Losses WASHINGTON — Walmart and the Waltons—America’s largest employer and richest family—received tax breaks and subsidies worth an estimated $7.8 billion in 2013, according to a report released today by Americans for Tax Fairness….Read More
Category: Taxes and Policy