Editor’s Note: Scott Drenkard is an economist at the Tax Foundation, a Washington-based tax research organization. Story highlights The Mega Millions lottery jackpot is at an estimated $640 million Scott Drenkard: People are lining up to pay what is, in effect, a tax Lotteries take a disproportionate share of income from the poorest Americans, he…
Editor’s Note: This is an updated version of a story that originally ran on April 14, 2023. New York CNN — It’s April 18, the official deadline to file your federal and state income tax returns for 2022. (It is also, apparently, National Animal Crackers Day for those who celebrate.) Whether you have already filed…
Voters in Switzerland have shocked the political establishment by rejecting a reform plan that would have brought the country’s corporate tax system in line with international norms. The tax reforms, which were widely supported by the business community, would have removed a set of special low-tax privileges that had encouraged many multinational companies to set…