Data/hora: 11/06/2024 15:40:27

Provedor de dados: | 31
País: | United States
Título: | ARE ALL TAXES EQUALLY BAD?  HOW REDUCING IOWA'S SALES TAX COULD SAVE IOWANS MORE THAN $100 MILLION PER YEAR
Autores: | Lapan,   Harvey E.; Moschini,   GianCarlo; Caruth,   Brad.
Data: | 2002-10-29
Ano: | 2002
Palavras-chave: | Federal itemized deductions; Income tax; Sales tax; State budget; Tax policy; Public Economics.
Resumo: | Under current U.S. law, taxpayers can deduct up to 100 percent of their state income taxes from their adjusted gross income when calculating their federal income taxes. As a result, Iowans currently pay approximately $251 million less to the federal government than they would otherwise pay. There is, however, no equivalent stipulation allowing for the deduction of state sales taxes. Consequently, by eliminating the sales tax and replacing the lost revenue with an income-based tax, Iowans could save a substantial amount of money on their federal tax returns without any change in revenue for the Iowa government. Alternatively, by replacing the sales tax with an income-based tax, the State of Iowa could increase its tax revenue without increasing the total tax burden on Iowans. This analysis discusses four specific scenarios, with net benefits to Iowans ranging from $106 million to $157 million per year.
Tipo: | Working or Discussion Paper
Idioma: | Inglês

Identificador:

6156

http://purl.umn.edu/18452

Editor: | AgEcon Search

Relação:

Iowa State University&gt;Center for Agricultural and Rural Development&gt;CARD Working Paper Series

CARD Working Paper 02-312

Formato:

40

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