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    Most Small Businesses Burdened by Costly Tax Preparation Process Support Tax Reform

    Small businesses are increasingly burdened with tax preparation costs, with a majority spending over a week per year on federal tax preparation and thousands of dollars on external accounting firms, according to the National Small Business Association’s (NSBA) 2014 Taxation Survey released last week. According to the report, “the current … More

    Top 1 Percent Pays Effective Tax Rate Nearly Three Times That of Middle Class

    New data from the Congressional Budget Office (CBO) show that President Obama’s much-discussed Buffett Rule, which would require families earning more than $1 million a year to pay an effective tax rate of 30 percent, is basically in effect. The data also show that President Obama’s premise for pushing the … More

    Goodlatte: 7 Things to Consider Before Taxing Internet Shopping

    Efforts in Congress to give state tax collectors power to tax out-of-state (mostly Internet) sales hit a roadblock Wednesday, as House Judiciary Committee chairman Bob Goodlatte (R–VA) released seven principles to guide the debate. These principles reflect the major concerns with such an expansion of taxing power, rightfully setting a … More

    Morning Bell: 10 Facts on the Fiscal Cliff, Debt, and Spending

    Budget policy in 2012 was characterized by deficit spending, major increases in the national debt, and a heated debate over the “fiscal cliff.” With just days left for President Obama and lawmakers in Congress to avert a major tax hike, sequestration, and other major policy changes, today we bring you … More

    Online Chat on Taxmageddon

    Taxmageddon is coming. Sounds like a tagline for a horrible movie, but unfortunately it is quite real. Unless congress acts, taxes will be going up for everybody. Click here to join us right now for our “Lunch with Heritage” chat. We are joined by Heritage’s Senior Tax Policy Analyst Curtis … More

    Morning Bell: Buffett Rule 101

    President Obama traveled to Florida yesterday to distract the nation from its real problems by laying out his case for the Buffett Rule, a plan to drastically raise taxes on successful Americans and small businesses. The core of his argument is that the rich aren’t paying their fair share. It … More

    Romney’s Taxes: Too Little or Too Much?

    Much has been made of Mitt Romney’s asserted 15 percent or so tax rate. There is both a material error and an irony to this story. The release of Romney’s tax returns for 2009 and 2010 and a preliminary assessment for 2011 shows a remarkably consistent picture. First, he makes … More

    Rep. Jan Schakowsky: "You Don't Deserve To Keep All Your Money"

    In a interview with Chicago’s Don Wade & Roma radio show this morning, Congresswoman Jan Schakowsky claimed that Americans aren’t entitled to all of their own money. Toward the end of a wide-ranging interview, the hosts played a clip from this week’s Republican Presidential Debate where California teenager Tyler Hinsley … More

    U.S. Losing Global Competitiveness with High Corporate Tax Burden

    High corporate tax rates are undermining U.S. international competitiveness. The global economy continues to demand that companies be flexible and swift in order to remain competitive. High tax rates deprive companies of both the means and the incentive to take advantage of new market opportunities or technological changes that can … More

    U.S. Can't Lead on Economic Freedom When It’s Retreating

    The news is out: the U.S. is falling behind on economic freedom. In the 2010 edition of the Index of Economic Freedom, the United States, for the first time, dropped out of the ranks of the free, and into those of the ‘mostly free,’ ranking eighth in the world and … More