Sin taxes are excise taxes imposed on goods or behaviors - like booze and cigarettes - that lawmakers deem harmful. In addition to raising revenue, the idea is that bumping taxes high enough should trigger a slowdown in the behavior. But what happens if taxpayers simply exchange the "sinful" behavior - not for a "better" response - but for another bad behavior?
The same general idea was used to look at e-cigarettes. A team of researchers from six universities examined the effect of e-cigarette taxes enacted in eight states and two large counties on e-cigarette prices, e-cigarette sales, and sales of other tobacco products. Using data from 35,000 national retailers from 2011 to 2017, researchers found that for every 10% increase in e-cigarette prices, e-cigarette sales dropped 26%.
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Poll: New Yorkers support new taxes on 'ultrawealthy' | News | oleantimesherald.com
ALBANY — A new poll released Monday by unions representing workers across New York shows that more than 92% of New York voters support new taxes on the "ultrawealthy" as the state grapples with a $6.1 billion budget deficit.
That support cuts across all regions of the state and party lines, according to the poll, with 95% of Democrats, 87% of Republicans and 89% of unaffiliated voters backing the tax proposals.
Too many taxpayers are missing the chance to file taxes for free — here's how you can avoid that
More than 14 million Americans with low and moderate incomes likely could have filed their federal taxes for free last year, but they paid for tax preparation instead, according to a new Treasury Department audit.
These people may have missed their chance because the Internal Revenue Service's Free File Program is "obscure and complex," and it has gone too long without adequate IRS supervision or marketing money, the report said.
Is a tax-by-mile system ready to replace fuel taxes? - Roll Call
Congress enters the debate over how to shore up a highway trust fund headed for insolvency with a conundrum: The GOP is reluctant to raise the federal fuel tax, the tax isn't a long-term solution anyway, and the most popular alternative to the gas tax isn't ready for prime time.
That alternative is a levy based on the number of miles a vehicle travels rather than the amount of fuel that goes into the vehicle. The so-called Vehicle Miles Traveled, or VMT fee, is being tested in states such as Oregon and Utah. Washington state, meanwhile, issued a report in January highlighting the need to move away from the fuel tax toward such a system.
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2019 tax brackets: What's your tax rate? - CBS News
If you don't know your tax bracket, you're not alone. Many Americans have no idea where they fall on the scale that determines how much federal income tax they pay every year.
There are seven brackets, or income levels, in the 2019 tax code, and the IRS adjusts these cutoffs every year to keep pace with inflation.
Married couples filing separately should follow the brackets for single filers, but note that the 37% tax bracket kicks in at income over $306,175.
NYC Billionaires' Row Could See Property Taxes Quintuple Under Proposed System -
When media executive Lachlan Murdoch paid $150 million for a mansion in posh Bel Air in December, a record price for Los Angeles, he did so presumably knowing he would owe over $1.3 million a year in property taxes, public records show.
It's an effective tax rate of around 0.9%—about the same as a fellow record-breaker in distant Palm Beach, Florida, where that same month, hedge funder Steven Schonfeld snapped up a megamansion for $111 million, taking on a property tax liability of around $1 million, public records show.
Voters to decide whether to raise property taxes in Floyd Co. for school safety improvements
NEW ALBANY, Ind. (WAVE) – Voters will decide in May whether to raise property taxes in Floyd County to improve school safety.
The New Albany Floyd County Consolidated School Corporation Board of Trustees set that in motion Monday night, voting unanimously to put the referendum on the ballot.
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Nobody from the public spoke against the measure, which board trustees began crafting seven months ago.
US Crypto Taxes Are a Nightmare. Could These Proposals Help?
The best Sundays are for long reads and deep conversations. Earlier this week, the Let's Talk Bitcoin! Show gathered to discuss the U.S. tax treatment of "virtual currencies" and how scams find a home wherever opportunity exists, at least for a while.
This episode of Let's Talk Bitcoin! is sponsored by Brave.com , eToro.com and Purse.io .
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This episode was produced by AP's Don and Ned. It featured discussion by Adam B. Levine, Stephanie Murphy , and Jonathan Mohan .
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