TaxBytes

New York City Mayor Eric Adams learns a lesson: Increasing taxes on the rich is the best way to ensure NYC loses revenue.

The Earned Income Tax Credit was created to encourage work. But its "refundable tax credit" has turned it into a massive welfare program that punishes those who work and earn too much.

Massachusetts demonstrated its opposition to high taxes in 1773. But by ending its flat income tax rate, the Bay State has abandoned its heritage.

California proves the Laffer Curve works by demonstrating that the Golden State's high tax policies don't work.

Tax competition works, which is why high-tax states don't like it.

While many taxes have gone up since their inception, tariffs—which are a tax—have gone down. 

Congrats to everyone who didn't have college debt. Now you do.

IRS agents embrace taxpayers with both "arms."

President Biden said he wouldn’t raise taxes on people making under $400,000. His revised version to build back better does exactly that.

High-inflation times, like now, demonstrate why any capital gains taxes should be based on real gains, not phantom gains.