income taxes Archives - Kansas Policy Institute

Combating inflation at the state level 0
- Tax & Spending
- August 29, 2022
Last Friday, the Dow Jones Industrial Average plummeted by 1,000 points after Federal Reserve Chair Jerome Powell indicated that interest rates would remain high to fight inflation. Kansans don’t need to be told that inflation is rampant as prices this July were 8.6% higher than what they were last year. Much of the broader causes
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Excess tax collections are not good for taxpayers 0
- Tax & Spending
- August 4, 2022
Governor Laura Kelly is heralding tax collections exceeding expectations as a sign of “forward momentum” in the state’s economy, but that is a government-focused viewpoint. The economic data tells a different story for taxpayers. In July 2022, the state of Kansas took in a total tax revenue of $586.2 million, 27.8% greater than the estimates
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High Tax Revenue Continues into December 2021 0
- Tax & Spending
- January 4, 2022
In December 2021, the state of Kansas took in a total tax revenue of $890.3 million, which was 7.8% greater than the estimates for this month. This includes $293.5 million in sales taxes and $550.3 million in income taxes. The revenue collected for December of this year was 15.6% higher than what it was in the
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What is the government’s fair share of what you earn?0
- Tax & Spending
- October 29, 2021
One of today’s biggest discussions is the idea of people “paying their fair share” in taxes. Fair is a subjective term, but income tax returns at both the federal and state level clearly demonstrate that Kansans face a progressive tax system, which means that higher earners see higher taxes and lower earners see lower taxes.
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