Tag Archive: Tax Policy


We’re Number 32!

 

 

 

 

 

” Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.

  On Monday the Tax Foundation, which manages the widely followed State Business Tax Climate Index, will launch a new global benchmark, the International Tax Competitiveness Index. According to the foundation, the new index measures “the extent to which a country’s tax system adheres to two important principles of tax policy: competitiveness and neutrality.” “

 

 

 

 

 ” A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high “drive investment elsewhere, leading to slower economic growth,” as the Tax Foundation puts it.

  By neutrality the foundation means “a tax code that seeks to raise the most revenue with the fewest economic distortions. This means that it doesn’t favor consumption over saving, as happens with capital gains and dividends taxes, estate taxes, and high progressive income taxes. This also means no targeted tax breaks for businesses for specific business activities.” Crony capitalism that rewards the likes of green energy with lower tax bills while imposing higher bills on other firms is political arbitrage that misallocates capital and reduces economic growth.

  The index takes into account more than 40 tax policy variables. And the inaugural ranking puts the U.S. at 32nd out of 34 industrialized countries in the Organization for Economic Co-operation and Development (OECD).”

 

 

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A Primer On State and Local Tax Policy: Trade-Offs Among Tax Instruments

 

 

 

 

” The choice of tax instruments by a state or local government has wide-ranging implications for the economy, and the amount of revenue to be raised should not be the sole criterion used in developing tax policy. The trade-offs between various tax instruments, including revenue, fairness, and collection cost, should all be incorporated in these decisions.

  In a new study for the Mercatus Center at George Mason University, Justin M. Ross defines five criteria for evaluating tax policy and uses them to give a clear overview of the different types of taxes utilized by state and local governments.

  For the complete study, see “A Primer on State and Local Tax Policy: Trade-Offs among Tax Instruments.” “

 

 

 

 

 

 

 

 

 Because , you know , they’re greedy , unproductive pigs .

 

 

  ” From the Buffett Rule to France’s 75 percent tax on the wealthy, “soaking the rich” is all the rage once again. Henry Hazlitt, writing his Business Tides column for Newseek, challenged this perennial impulse in the following three articles from the postwar era. Note Hazlitt’s “Laffer curve” analysis, written when Arthur Laffer was in primary school. However, as Hazlitt makes plain, it was public welfare, and not government revenue, that he was really after in pushing for lowering taxes on the rich”

 

 

Cartoon by Chip Bok

Battle Won ? War Lost ?

The Tea Party

 

  ” Although those asked in this CNN poll said Obama “won the debate” 46-39, look at the responses on who voters find would be better to handle the economy, healthcare, tax policy, and the deficit. 

Obama may have “scored style points”, but clearly Romney showed a vision and poked holes in Obama’s record. What do you think of these numbers? “

 

IBD catches more of Obama’s lies .

” “The truth is,” Obama says, “we tried (that) for almost a decade, and it didn’t work.”

   Bush-era tax cuts and deregulation, he argues “resulted in the most sluggish job growth in
decades” along with “rising inequality, surpluses turned into deficits, culminating in the worst
economic crisis in our lifetimes.”
There’s just one problem. Obama’s got his history wrong.

  First, Bush was no big deregulator. “