In reviewing some IRS stats for 2014 returns, I was surprised to see that two taxes added by the Affordable Care Act (Obamacare), generated more revenue in 2014 than was generated from the individual AMT. Here are the stats:
Tag Archive for tax revenue
Today, June 16, the city of brotherly love will take the proposed Philadelphia sugar tax to a final vote. The tax would place a 1.5 cent-per-ounce added tax on sweetened beverages. If the motion is approved, Philadelphia would be only the second city in the United States to impose such a tax in attempt to increase revenue and, thus, help fund the city’s educational programs and employee benefits.
It’s not the first attempt. The Philadelphia city government has tried on multiple occasions to pass this tax. Originally, the tax was touted as a deterrent for unhealthy eating habits. With the focus now shifting to generating revenue for improving schools and building community centers, there is a greater incentive for the city to get this tax passed.