Colleges across the country face deep financial losses after the coronavirus forced school officials to shutter campuses and cancel events. Administrators worry their money troubles will only get worse if enrollment, government funding and other sources of revenue continue to fall amid a likely recession.
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Every tax season people try to get out of paying the full share of what they owe the U.S. government in income taxes. The Internal Revenue service usually starts accepting tax returns in late January and returns typically need to be filed by April 15. Here are a few ins and outs of federal tax evasion — why it matters, why people do it and how they do it.
U.S. states that struggle with government corruption tend to become more corrupt after gaining revenue from natural resources, according to a new paper in Political Research Quarterly.
Conversely, states that are less corrupt and gain natural resource windfalls tend to resist becoming more corrupt.
Employment increases after taxes are cut for most income earners — but not when tax cuts target the top 10% of earners — according to a recent paper in the Journal of Political Economy looking at data from the 1980s through the 2000s.
Much of the American South lay razed after the Confederacy surrendered its forces to the Union in 1865 to end the Civil War. Public financing was needed to rebuild cities and infrastructure, but the South did not have a strong history of providing public goods through taxation.
Houses are built to stay upright. We eat in them, sleep in them, we produce trash that goes out, and we purchase goods that come in. But when there’s an earthquake, houses that are less structurally sound may collapse. If the house is destroyed, the normal equilibrium of things going in and out changes. New products and services are brought in to rebuild the house. Old products and services become less essential for a time.
The old balance gives way to a new normal.
Journalists often make mistakes when reporting on data such as opinion poll results, federal jobs reports and census surveys because they don’t quite understand — or they ignore — the data’s margin of error.
A new study finds that people walking in affluent neighborhoods around Boston were less likely to support a tax on the wealthy after seeing a poor person.