The Tax Policy Blog

September 08, 2008

Brad DeLong provides us with a nice summary of the deal reached over the weekend:

OK. Here is what is going on:

Fannie Mae and Freddie Mac give the Treasury each 80% of their (common) stock and $1B (each).

The Treasury promises to keep Fannie and Freddie solvent according to GAAP by lending it money at 10% per year.

...
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September 07, 2008
  • Memo to Charlie Rangel: Form 1040, Line 17; Schedule E (Rental Income): The New York Post (with beach pics) and New York Times are reporting that the most powerful tax-law writer in the world, House Ways and Means Chairman Charlie Rangel, has not reported on his tax return rental income that the veteran congressman has earned from his rental unit in the Dominican Republic.
  • Tax...
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September 05, 2008

From the "You can't make this stuff up" category... 

The New York Post (with beach pics) and New York Times are reporting that the most powerful tax-law writer in the world, House Ways and Means Chairman Charlie Rangel,...

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September 05, 2008

MEDIA ADVISORY

Joseph Henchman, Tax Counsel at the Washington, D.C.-based Tax Foundation, will be in Raleigh on Monday, September 8, 2008 to view oral arguments for Heatherly v. State at the North Carolina Supreme Court. Henchman will be available for interviews Monday and Tuesday, September 8-9.

On March 18, 2008, the North Carolina Court of Appeals upheld the constitutionality of the North Carolina Education Lottery by a 2 to 1 vote in Heatherly v. State....

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September 04, 2008

From last night's speech in St. Paul, here the remarks of Gov. Sarah Palin discussing tax policy (referring to Obama's policies) courtesy ABC News:

'Congress spends too much ... he promises more.

Taxes are too high ... he wants to raise them. His tax increases are the fine print in his economic plan, and let me be specific.

The Democratic nominee for president supports plans to raise income taxes ......

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September 04, 2008

A few weeks ago the Tax Foundation launched the CompeteUSA campaign to raise the public's awareness of the ways America's high business tax rates affect our competitiveness, wages, and living standards. The CompeteUSA campaign launch comes on the heels of new data released by the Organisation for Economic Co-Operation and Development (OECD) showing that the United States has the second-highest corporate income tax rate in the industrialized world, that for the 17th...

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September 03, 2008

We've all heard that cigarettes are bad for us and for society as a whole and should therefore be taxed. Many people also believe that certain sexual behavior is bad for individuals and society, so why not tax it as well? Stephen Dubner, co-author of Freakonomics,...

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September 03, 2008

On Friday, the Texas Supreme Court denied rehearing in the First American Title Ins. Co. case. The Tax Foundation had filed a friend-of-the-court brief supporting the petition for rehearing, following a 5-4 decision by the court to uphold a decision by the state Comptroller to increase taxes on out-of-state insurance companies, disrupting the interstate retaliatory tax system in place for the last two decades.

The arguments in...

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September 03, 2008

Robin C. Capehart of West Liberty State College and Raymond Keener III of Marshall University have a well-written piece in today's Tax Notes examining the Supreme Court'...

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September 03, 2008

In his speech last night at the Republican National Convention, fromer Tennessee Senator Fred Thompson actually brought up the issue of tax incidence, albeit in a non-academic political soundbite. From the LA Times:

Now, our opponents tell us not to worry about their tax increases. They tell you they're not going to tax your family. (Laughter.) No...

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September 03, 2008

The Los Angeles Times had an article today that described Alaska Gov. Sarah Palin's battle to acquire earmarks for the state and the town of Wasilla when she was mayor. We've already documented how Obama and Biden differed on the biggest energy vote of the past decade, where Obama sided with special interests whom he constantly says he will take on....

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September 03, 2008

Florida's tax swap ballot initiative will not appear on the November ballot. The Florida Supreme Court unanimously upheld a lower court ruling removing it from the ballot because summary materials were confusing.

We commented on tax swaps here:

As we have stated before, tax swaps are not...

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September 02, 2008

Be sure to check out our Presidential Candidate Tax Plan Comparison, newly updated for the post-primary general election. See how each of the candidates stand on income taxes, corporate taxes, tax reform, the estate tax, payroll taxes, the AMT, and capital gains and dividends taxes.

August 31, 2008
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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog 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.

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