Iowaa Essay

Arkansas has one of the most rich historical backgrounds that still has not been fully discovered. There have been huge impacts made in Arkansas since 1819, when Arkansas became part of the Union. One of the major impacts that was made in Arkansas was the institution of slavery. When slavery was introduced to Arkansas, it caused major growth to the population, economy, politics and the culture of the state. For these reasons, the history of Arkansas needs more attention so there will be a full understanding of slavery.

Hoffman, W., Maloney, D., Raabe, W., & Young, J. (2013). Federal Taxation Comprehensive Volume. (36 ed.). Ohio: South-W

People do not enjoy talking about taxes because they are too political, confusing, and depressing. It is no secret that the American tax code is a mess and something many economists describe as too broken to fix. Despite this, politicians have never stopped from trying to “fix” the code, yet they have had very little success. The U.S. Government’s tax code currently comprises “more than 67,000 pages of complexities” (Boortz, Linder, & Woodall 14). The Americans for Fair Taxation (AFFT) was founded in 1995 with one goal: create the simplest and best tax reform plan that would work in the modern market and economy. The AFFT’s best solution was a bill which they promptly called the FairTax.

Texas does outperform other states in terms of economic growth and population growth. Many people move to Texas because of the jobs and they do taxes right. (Batheja, 2013) Gov. Rick Perry believes Texas’s performance through the recession is due to lack of income tax. He says “You can stop trying to figure out how to pay the state income tax, because we don’t have one.” (Batheja, 2013) The Tax Foundation, a conservative-leaning research group, ranks Texas ninth-best on its State Business Tax Climate Index, largely because of the state’s lack of an income tax. (Batheja, 2013) On the other hand, Texas’s high property taxes remains a crucial complaint among business and homeowners. It’s harder for small business to pay their taxes especially if their business wasn’t very profitable. Small business end up using their own personal savings, mortgages, or borrow money in order to pay their taxes. Having a state tax would benefit small business. Although having no state tax is accepted by many, it puts a dent on cities and towns. Local debt has increased over the past decade, in large part to cover the costs for new schools and public maintenance projects. (Batheja, 2013) The state is pushing projects such as building of highways and roads to cities and counties. (Batheja, 2013) In 2012, more than 500 lawsuits were from school districts arguing that our public education isn’t properly

In states without state income tax, higher sales, property and other assorted taxes can exceed the annual cost of a state income tax. Texas is one of seven states that do not levy an individual income tax. The Tax Foundation, a conservative-leaning research group, ranks Texas ninth-best on its State Business Tax Climate Index, largely because of the state’s lack of an income tax. On three of the foundation’s other major rankings — property taxes, sales taxes and corporate taxes — Texas ranks in the bottom 20 states. Texas does not have a statewide property tax, but local property taxes remain a crucial complaint among businesses and homeowners. (Terrence, 2002) The main benefit is that states with no income tax become a beacon for growth. They 're better at creating jobs and keeping a core of young, educated workers from moving to other states. The issue is undoubtedly controversial. Public opinion usually swings with the size of one 's paycheck and the role people think governments should play in shaping society. Texas has an above-average sales taxes, and Texas also has higher-than-average effective property tax rates. Cutting the income tax will boost take-home pay for everyone. It 'll make the state more attractive than its neighbors, creating jobs, drawing new businesses, and sparking an influx of talented workers.

Collections were $61 million below expectations in July, August and September (combined total). Following that, the total receipts were $15 million, or almost 3 percent, below expectations in October, according to the Kansas Department of Revenue. Added up, in the first four months of the fiscal year starting in July, Kansas is now roughly $76 million under revenue expectations. The state broke out of an eight-month-long streak of missed estimates in November. But December’s lower-than-expected receipts (under $11 million) ruined hopes of the November figures (up $8 million) in which we thought was the start of a new, positive trend. Ever since 2013, the tax cuts have fallen short of creating the surge of new dollars that Brownback once boldly predicted would almost immediately flow to the state. Also, the state has been among the worst in the nation in recently in creating new nonfarm jobs, again, the opposite of what Brownback had said would happen after the tax cuts were implemented. On July 1, the statewide sales tax jumped from 6.15 percent to 6.5 percent. “The fact that sales tax revenue was below estimates, even after Republicans passed a massive sales tax increase, is an indication of just how much Kansas families are struggling under the Brownback tax plan,” said House Minority Leader Tom Burroughs, D-Kansas City. “A tax plan that is overly dependent upon a sales tax is neither

Within the United States, there is an unequal collection and distribution of resources. The current unequal or socially unjust tax system is a direct contrast to the social justice theories of John Rawls. The taxation discrepancy has ramifications on many important aspects of our society, such as health care, employment, old age security, and education. These issues affect everyone in our society, regardless of age, race, gender, or sexual orientation. Thorough more equal taxation, we have the potential to create a more society as a whole.

offset lost revenue by providing for a small, graduated income tax as authorized by the

In 2012, the legislature of the state of Kansas passed a bill that “allows about 300,000 independent business owners to pay no state tax on the bulk, if not all, of their income”(MONTGOMERY). This bill was created in order to put more money into the hands of businesses, and to create jobs. In fact, Kansas Governor Sam Brownback (R) said in an interview that this tax cut for Limited Liability Companies would be like a “shot of adrenaline into the heart of the Kansas economy”(“Big Tax Cuts Come Back to Bite State Governments”). Unfortunately, once the tax cuts passed, high income individuals in Kansas created Limited Liability Companies in their name, with themselves as the singular employee. Because of this, those individuals were no longer

In the United States today there are millions of corporations in many different industries. All of them must abide by the current taxation rules and regulations that have been set by IRS and congress. The Internal Revenue Code, which was originally founded in 1939, set the foundation for the codification that we have in place today. The code arranged all Federal Tax provisions in a logical order and placed them in a separate part of the federal status. Over the years, congress has updated and amended the tax code in 1954, in 1986 Tax Reform Act, and is constantly updating the code due to its importance in assessing judicial and administrative decisions. The

A record number of California based companies have been leaving the state, attracted by other states with more favorable tax advantages. The impact of these companies abandoning California effects jobs and tax

Future Pennsylvania budget stalemates could be averted by following a simple, understated guideline. “It is not about how much you make, it is about how much you spend.” The overall goal should be to increase state economic revenue while decreasing state expenses. Currently, the state of Pennsylvania has one of the highest corporate income taxes in the country. This mounting tax wards off future entrepreneurs from establishing their businesses, and encourages withstanding companies to uproot to a more desirable location. As business owners, they need to make smart executive decisions. In an attempt to increase state economic revenue, the corporate income tax could be lowered. This type of tax decrease will then appeal to business owners, making

John Maynard Keynes stated that “the avoidance of taxes is the only intellectual pursuit that carries any reward,” (Waters, 2011). In Missouri, while seeking to avoid an income tax, advocates for the “Fair Tax” have seemingly presented a proposal that is the antithesis of the pursuit Keynes deems worthy. They are proposing a constitutional amendment that would impose a sales tax that no Missourian could avoid. The “Fair Tax” would cost everyone, no matter their income level and even have its greatest impact on the most vulnerable among us. Even as a tax of this type would expand the tax base, the repercussions to the taxpayers, the state budget, and the state economy would present hurdles too high to

The United States is in a recession; it has been facing some of the worse economic times since the Great Depression in the 1930’s. One option to fix the economy is to change the corporate tax rate. To lower it or to raise it, that is the question economists have been speculating. America's high corporate tax rate and worldwide system of taxation discourages U.S. companies from sending their foreign-source revenue home, which makes U.S. companies defenseless to foreign acquisition from the international opponents (Camp). Corporations and United States citizens have been fighting for a tax reform, which would hopefully help the American economy; either by lowering the corporate tax, or by raising the tax.

When examining the Corporate Income Taxes In the 1990s released by the Institution of Taxation and Economic Policy, it shows a clear-cut abuse by cooperation in our tax system. This study was conducted to examine the deferral income taxes paid or not paid by 250 of the U.S.’s largest corporations from 1996 to 1998. This period boosted a strong gain in profits for these companies, pretax corporate profits rose by 23.5 percent over the three years examined. This study closely examines on how corporate income tax revenues didn’t keep pace or come close to matching the profit increase. Revenue only rose by 7.7 percent during this time period. In 1998 alone, a total of 94 corporations faced a net liability of less than half the full 35% corporate tax rate and the corporations (List these) Lyondell Chemical, Texaco, Chevron, CSX, Tosco, PepsiCo, Owens & Minor, Pfizer, JP Morgan, Saks, Goodyear, Ryder, Enron, Colgate-Palmolive, WorldCom, Eaton, Weyerhaeuser, General Motors, El Paso Energy, WestPoint Stevens, MedPartners, Phillips Petroleum, McKesson and Northrup Grumman all had net negative tax liabilities. If that fact isn’t startling, this fact brings a grimmer look at our tax code: