Record high levels of unemployment and record low reserve funds have placed great pressure on the federal-state unemployment insurance (UI) tax and benefit system.
Tax Freedom Day® 2012 arrives on April 17 this year, four days later than last year due to higher federal income and corporate tax collections.
The income earned by the top 1 percent of Americans has declined for the second year in a row while their average tax rate has increased, according to this Tax Foundation study.
States are increasingly extending higher tax rates to products like candy and soda, ostensibly to fight obesity, but such moves are unlikely to have an impact on obesity rates and health outcomes,
Despite recent attempts by real estate, home building, and mortgage-lending organizations to portray the home mortgage interest deduction as vital to middle-income family budgets, an anal