The Tax Policy Blog

October 30, 2008

A federal judge has issued an injunction against a Florida law which requires any organization who discusses or refers to a Florida ballot initiative to list its contributors and spending, even if they are unrelated to the political discussion:

Under Florida's "electioneering communications" law, the broadest regulation of political speech in the nation, any group of people that simply mentions...

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October 30, 2008

Joe Henchman blogged earlier today on the impact of the financial crisis and AIG's demise on transit agencies like the D.C. Metro system. So what would happen if a Belgian bank took over Metro? Thanks to Bablefish, we provide the necessary info for riders may need to learn a little Dutch (which is what a majority of Belgium speaks according to Wiki; Flemish = Belgian Dutch):

"Wij zullen bewegen" - "We will be moving...

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October 30, 2008

From today's Washington Post:

Presidential candidate Ralph Nader passed out information yesterday to District residents about how they can still claim refunds on a now-defunct telephone excise tax.

Nader said he went to low-income neighborhoods in Southeast Washington to hand out application forms for submission to the IRS...

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October 30, 2008

A recent analysis by Chye-Ching Huang with the Center on Budget and Policy Priorities (PDF) correctly states that the U.S. has a low average tax rate (ATR), reflecting its relatively narrow tax base.  Despite the high statutory corporate tax rate, the various special corporate provisions result in a low ATR.

Several things, however, need to be considered.  First, the best measure for considering the competitiveness of the United...

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October 29, 2008

The third prize of $500 was given to Lori Harfenist of Brooklyn, NY, a host of "The Resident" for TV and for the Web, and content producer for stations including NBC, Turner Broadcasting, CNN, FOXNews, and DIRECTV. Lori created a video called "Taxes, Schmaxes."

The CompeteUSA campaign comes on the heels of data showing that America has the second-highest corporate income tax rate in the industrialized world, and that the American worker shoulders a disproportionate amount...

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October 29, 2008

The second prize of $1,000 was awarded to Craig Kirchoff of Alexandria, VA, an editor and web producer at National Media, for his video called "Sally, the Corporate Income Tax and You."

The CompeteUSA campaign comes on the heels of data showing that America has the second-highest corporate income tax rate in the industrialized world, and that the American worker shoulders a disproportionate amount of the corporate tax. As a result of the America standing still while nine key...

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October 29, 2008

Declaring that the "Corporate Tax Must Come Down," Andrew Patterson of Edmond, Oklahoma won the first prize of $5,000 in the Tax Foundation's CompeteUSA YouTube Contest with a video called "Tax Attack." The contest was part of the CompeteUSA campaign which aims at raising awareness of America's high business tax rates and how those taxes have an impact on our competitiveness, wages, and living standards.

In "Tax Attack," Patterson highlights that...

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October 29, 2008

Today at NRO, Mark Levin has a brief post that is designed to link to an American Thinker piece that contains all sorts of calculation errors about Obama's tax proposals. Here's what Levin says:

We too often ignore the fact that Obama's policies would allow the Bush tax cuts to lapse, which would significantly increase taxes on individuals earning $25,000, $50,...

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October 29, 2008

"Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule - and both commonly succeed, and are right."

H.L. Mencken, Minority Report (The Johns Hopkins University Press, 1997 [1956]), p. 222.

(Hat tip Professor Boudreaux)

October 29, 2008

Barack Obama's admission that his policies would "spread the wealth around" has ignited a nationwide discussion of how progressive the tax system should be and how it should be used to redistribute income among Americans.  Obama has been very successful in bolstering the conventional wisdom that the U.S. tax system does not place a significant enough burden on wealthier households and places too much of a burden on the "middle class."

But a new study on inequality by researchers at...

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October 28, 2008

So today in a speech to a Pennsylvania crowd, Obama said this:

Now, in the closing days of this campaign, my opponent is trying to distance himself from the President he has faithfully supported 90% of the time. He’s supported four of the five Bush budgets that have taken us from the surpluses of the Clinton years to the largest deficits in history. John McCain has ridden...

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October 28, 2008

Senator Obama has accused Senator McCain of wanting to reward corporations for outsourcing American jobs. Senator McCain replies that his plan to cut the corporate tax rate for American companies will make the U.S. a more profitable place to locate facilities, deterring outsourcing. Which is right?

CNN's Truth Squad concluded, "McCain is not proposing anything that would qualify as more tax cuts for outsourcing." Here's the...

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October 28, 2008

This morning, Tax Foundation Senior Economist Gerald Prante appeared on Fox Business to discuss the presidential candidates' tax plans.

...

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October 27, 2008

Good Monday morning. The blogosphere has been kind to the Tax Foundation's work on federal and state issues this past week. Here are the best hits:

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October 27, 2008

Two op-eds from the Tax Foundation today.

Vice President for Economic Policy Robert Carroll, Ph.D., gives a great explanation of why "Almost Everyone Would Do Better Under the McCain Health Plan" in today's Wall Street Journal. What kind of effect might this proposal have?

"Based on estimates by career economists in the Treasury...

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