Low-income earners should not have to deal with the complexities of the US income tax system until they reach a certain standard of living. This is why all Vermonters 25 or younger making less than $22,000 should be exempt from Vermont’s income tax.
That’s right, on a per capita basis, we each paid $5,015 to our Vermont government in 2017, more than any other state.
TABOR basically states that any revenue raised beyond what was required to meet the fiscal year’s budgeted obligations must be returned to the taxpayers. Period. End of discussion.
Thanks in part to the 2017 Trump federal tax reform, Vermont state corporate income tax receipts are up $38 million over last year.
The federal government’s overall financial condition worsened by $4.5 trillion in 2018, according to an analysis from government financial watchdog Truth In Accounting (TIA).
President Donald Trump signed a bipartisan bill last Monday to force greater accountability on the IRS in the property seizures, as well as protect taxpayers from identity theft, boost whistleblower protections, and modernize the tax agency.
In a debate filled with statements revealing the Democratic Party’s shift leftward, Vermont Sen. Bernie Sanders pledged to appoint only pro-abortion justices, raise taxes on the middle class and prohibit so-called assault weapons.
On today’s episode of The Daily Signal Podcast, we feature an interview with Julio Gonzalez, chairman of Engineered Tax Services, and Stephen Moore, a distinguished visiting fellow at The Heritage Foundation and author of “Trumponomics: Inside the America First Plan to Revive Our Economy.”
Three key findings highlight states losing $283 billion worth of tax revenue over 10 years, their budgets being hampered by Medicaid spending growth, and their unfunded pension debt reaching an all-time high.
Revenue collections were boosted in part by the 2017 federal Tax Cuts and Jobs Act (TJCA), the report notes, in addition to robust stock market returns.
Whenever Sen. Elizabeth Warren, D-Mass., is asked how she’ll fund “free” college tuition and her many other promised goodies, she has a ready answer: A 2% annual tax on accumulated wealth in excess of $50 million.