Tens of thousands of Hungarians rallied to protest a proposal to create a tax on internet usage in Hungary. In response to the first protest on Sunday, the Hungarian government limited its proposal.
The Iowa film tax credits story just keeps getting better (I guess it's worse, really). Last week the Tax Update Blog reported on even more movie credit unscrupulousness, including feather beds for producers' tired backs and iPods for their offspring.
And the list goes on. The Attorney General is launching a criminal investigation regarding the troubled film tax credit program, citing the following reasons:
investment tax credits were not calculated according to the statute; expenses were not adequately vetted and verified; projects were not justified in terms of their economic benefit to the State compared to their cost; and the definition of "investment" sometimes was improperly applied.
But the program still has people fighting for it: the people who benefit at the cost of Iowa taxpayers. Even if the credit program wasn't a terrifying example of government mismanagement and waste, it would still be unjustifiably bad tax policy.
Join the Tax Foundation's fight for sound tax policy Go
The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.
In the past three decades, the importance of “pass-through” businesses has grown substantially. The combined net income of sole proprietors, LLCs, Partnerships, and S corporations has increased fivefold and now accounts...