The Tax Policy Blog

December 03, 2007

Congress returns this week and a lot is on its plate, the most time-pressed issue being what to do with the alternative minimum tax. An update from CongressDaily AM:

Senate leaders will return to the question of how to shield 21 million taxpayers from new taxes this year as a result of the alternative minimum tax, as Senate Republicans have not given up demands to offer amendments that include extending other tax cuts.

Majority Leader Reid and Minority Leader...

Continue Reading...
December 03, 2007

The Tax Foundation's 70th Annual Dinner was held on Thursday, November 15. We have posted photos of the event for viewing or purchase here.

At the event, we presented the Tax Foundation Public Sector Distinguished Service Award to Nina Olson, National Taxpayer Advocate (below, with Tax Foundation President Scott Hodge). We presented Bernard M. (Bob) Shapiro, Partner at...

Continue Reading...
December 03, 2007

In going after former Arkansas Governor Mike Huckabee's FairTax position, Rudy Giuliani criticized the FairTax with quite possibly the worst response possible from the perspective of sound tax policy. Giuliani didn't question the Fair Tax on issues where it should be questioned like the issue of evasion or how its prebate will be administered. Instead Giuliani, likely out of political expediency, attacked the FairTax by defending the worst provisions in the current income tax structure,...

Continue Reading...
November 30, 2007

The tax record of former Arkansas Governor and current Republican Presidential candidate Mike Huckabee has garnered a lot of media attention in the past few weeks as Huckabee has surged in the polls in Iowa. David Lightman has a pretty fair summary of the issue in an article on the Chicago Tribune's website. Here's the introduction:

Mike Huckabee was an...

Continue Reading...
November 30, 2007

The Motley Fool has a good article on what a terribly foolish thing is it to buy lottery tickets. Reporter Rich Duprey explains that the payback from lotteries is worse than from any other bet available, worse than any casino game. And they cite Alicia Hansen's 2004 Tax Foundation Background Paper on lotteries to bemoan how much money Americans...

Continue Reading...
November 29, 2007

Jeanne Sahadi at CNN Money has compiled a list of the various positions that candidates from both primaries have taken on the issue of Social Security. Here's the introduction:

Among the many promises being made by the 2008 candidates for president, fixing Social Security is getting increasing play on the campaign stump.

The Social Security program, funded...

Continue Reading...
November 28, 2007

If we were doing this right, we should be asking these on video and posting them on YouTube. But after careful consideration we decided Anderson Cooper was just plain prettier than us and thus better suited to be on camera. So we hope he'll ask these questions while the GOP candidates are hangin' with Mr. Cooper...

Continue Reading...
November 28, 2007

We already posted some questions that we would like to see for tonight's Republican debate. But here are a few more questions (somewhat more adversarial), specifically designed for each of the top Republican candidates.

Senator Thompson and Mayor Giuliani, you have each suggested tax proposals that would create an optional flat tax to parallel the current income tax system. What spending would you cut to finance such a tax cut, and wouldn't this proposal actually...

Continue Reading...
November 27, 2007

Gov. Christine Gregoire (D) has called a special legislative session to reinstate the 1 percent property tax cap invalidated by the state supreme court, as we reported here. The governor's previous plan of merely asking the local governments not to tax more didn't work:

Gregoire has urged local governments to continue heeding the...

Continue Reading...
November 27, 2007

A number of state legislators and governors have recently considered selling or leasing their state-run lotteries for a quick influx of cash.  One of the most publicized lottery "privatization" plans was crafted in Indiana, although it was never implemented. Now Governor Mitch Daniels has announced that he is abandoning this plan.

Form Lottery Post:

Indiana Governor Mitch Daniels said today...

Continue Reading...
November 26, 2007

In April, residents of Doña Ana County, New Mexico (home of Las Cruces) voted 50.7%-49.3% to approve a 1/4-cent sales tax increase to part fund construction of a $198 million space vehicle launchpad. (Additionally, one-quarter of the tax revenue goes to "spaceport-related education in local schools.")...

Continue Reading...
November 21, 2007

We all love to complain about taxes (and for good reason), but in the spirit of Thanksgiving, we would like to suggest a different way of thinking about taxes—just for one day, that is.  

We'll defer to two writers who said it better than we could:

♦ "A person doesn't know how much he has to be thankful for until he has to pay taxes on it."
              — Author Unknown

♦ "The only thing that hurts more than paying an income...

Continue Reading...
November 20, 2007

There are many stories of bad fiscal policy proposals that we often read about and comment here. But there are some stories that just write themselves. From the Associated Press:

Birmingham Mayor Larry Langford is getting lots of questions from the Birmingham City Council about his proposed tax hikes and revitalization plans.

His proposals include doubling the business license fees and a one percent increase in the...

Continue Reading...
November 19, 2007

The State of Maryland is already one of the hardest hit states by the alternative minimum tax due to its high-income profile and high taxes on income and property. But now that a tax hike bill has been approved by the legislature and will likely be signed by Gov. O'Malley, the AMT is set to hit Marylanders even harder.

Raising the state income tax from 4.75 percent to three new rates of 5, 5.25, and 5.5 for higher income residents will increase...

Continue Reading...

Pages

Follow Us

About the Tax Policy Blog

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.

Monthly Archive