Posts filed under “Taxes and Policy”
From Bloomberg Visual Data:
The IRS collected more than $5 billion in 2011 from penalties incurred by taxpayers who withdrew money from tax-deferred retirement accounts before the age of 59 1/2. The people who pay the penalty include younger workers who switch jobs and don’t bother to roll over their accounts and older workers who believe they have no place else to turn.
Source: Bloomberg Visual Data
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…Read More
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