The Tax Policy Blog

October 23, 2008

Sen. Barack Obama has an ad running that tries to paint John McCain as a clone of George Bush. On the issue of taxes, the ad says this:

"Tax breaks for big corporations and the wealthy. But almost nothing for the middle class — same as Bush."

First, the claim that tax breaks for big corporations don't flow to the middle class is factually incorrect. All taxes are paid by people and all tax cuts flow to people, including those legally remitted by...

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October 22, 2008

Tax Foundation is slowly, but surely making its way onto the Web 2.0 space. You can now start following our work and our musings on Twitter at http://twitter.com/taxfoundation.

For those of you not familiar with Twitter, it's described as a "real-time short messaging service that works over multiple networks and devices." I like to describe is as a "microblog" ... shorter, more frequent updates...

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October 22, 2008

In an essay in today's Wall Street Journal titled "Obama and the Tax Tipping Point," economist Adam Lerrick wonders "what happens when the voter in the exact middle of the earnings spectrum receives in benefits from Washington than he pays in taxes?"

Lerrick suggests that Obama's "gift-wrapped packets of money in the form of refundable tax credits" will push the balance past the tipping point where the majority of Americans will receive more in government benefits than they pay in...

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October 22, 2008

We will be co-hosting a conference with our friends at AEI this Friday, October 24 to talk about a proposal analyzed by the President's Advisory Panel on Federal Tax Reform that would replace most of the federal income tax with a progressive consumption tax. Here are the details:

  • WHAT: Progressive Consumption Taxation - Can It Be Done? Should...
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October 22, 2008

So under Sen. Obama's tax plan, he proposed a universal mortgage credit that was refundable and it was independent of whether one had any earnings or not. Now in response to criticisms from the McCain campaign that Obama's tax credits are welfare, the Obama campaign is adding one string to the mortgage credit: you must work. (Note all the other Obama credits are tied to work.) ABC News reports the details here...

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October 21, 2008

Claiming that their existence hurts the state's horseracing industry and lottery, Kentucky Governor Steve Beshear (D) filed a lawsuit against 141 gambling websites, demanding that they either be blocked to Kentucky users or seized by the state. Last week, a trial judge refused to dismiss the case and now it heads to trial.

I'm not an expert on gambling law, but I'll guess that if gambling is...

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October 21, 2008

Last week, in criticizing a proposed sales tax holiday for New Jersey, I described one peril of tax holidays:

They violate stability because they create uncertainty about future tax rates.  If a legislature makes an irregular practice of enacting sales tax holidays—as is the case in many states that offer them only in flush economic years—consumers may wait to make large purchases on the belief...

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October 21, 2008

More hits from the blogosphere on the Tax Foundation work, old and new. Here are the highlights:

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October 20, 2008

This November 4, North Dakota residents will vote on Measure 2, an initiative that lowers individual income tax rates by 50 percent across-the-board, and corporate income tax rates by 15 percent. A new Tax Foundation Fiscal Fact, "North Dakota's Measure 2: How Would Rate Cuts Affect the Peace Garden State's Competitiveness?," evaluates the rate cuts proposal.

According to the Tax Foundation's State Business Tax Climate Index...

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October 20, 2008

The Tax Foundation has updated the Presidential Candidate Tax Plan Comparison section of our website to reflect recent changes and clarifications in Sen. McCain's and Sen. Obama's tax policies. The most significant changes: both candidates have recently outlined short term tax policies designed to help taxpayers deal with the current economic troubles. Check it out here.

October 19, 2008
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October 18, 2008

In the final Presidential debate between Senators John McCain and Barack Obama, dominated by economic policy, both candidates made many of the same misleading statements they've made in past debates and on the campaign trail.

With much of the discussion directed towards "Joe the Plumber," a voter Obama recently met with in Ohio who is concerned about his business, Gerald Prante provides Joe with the facts when it comes to both candidates' claims on taxes.

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October 17, 2008

The Democratic Senatorial Campaign Committee (DSCC) is running this ad against incumbent Sen. Saxby Chambliss (R) in Georgia, noting that Chambliss supports the FairTax, a 23 percent national sales tax proposal. The ad inaccurately implies that the FairTax plan is a tax increase and would be extra on all purchases.

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October 17, 2008

This following essay is from the October 1980 issue of Tax Features (PDF here).  October 1980—a month before the Reagan vs. Carter election—seems like a very long time ago, but this essay could have been written today.  Sadly, we have a feeling it will still be relevant 28 years from now.

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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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