The Tax Policy Blog

October 28, 2014

Next Tuesday, Nevada voters will decide whether or not to give the go-ahead to the margin tax—an economically damaging tax that falls in the gross receipts tax family. Gross receipts taxes (GRTs) only exist in a handful of states across the country (and even that’s too many).

Gross receipts taxes are complex business taxes that are imposed at a low rate but on a wide...

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October 28, 2014

Last month, while Treasury was rolling out new rules to clamp down on corporate inversions, the Chair of the President’s Council of Economic Advisors, Jason Furman, gave a speech at NYU titled Business Tax Reform and Economic Growth. Furman acknowledged that the U.S. corporate tax rate, at 39 percent, is the highest in the developed world. However, he then argued that “more...

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October 28, 2014

I wanted to make sure you saw our new State Business Tax Climate Index, released today.

The Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index uses over 100 variables in...

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October 28, 2014

This morning we released our 2015 State Business Tax Climate Index, which enables business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare.

While there are many ways to show how much is collected in taxes by state governments, the...

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October 27, 2014

Inequality is a popular topic these days. President Obama has called it a “defining challenge of our time.” A French economist, Thomas Piketty, wrote a book on the topic that became a best seller. Despite all the discussion, there still...

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October 27, 2014

The Internet Tax Freedom Act (ITFA), the moratorium on taxing internet access, was recently extended to December 11, 2014, from its initial expiration date of November 1, 2014. However, a number of important questions are left unanswered by lawmakers regarding its future.

Internet access and the internet economy...

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October 24, 2014

A new paper on wealth inequality from economists Emmanuel Saez and Gabriel Zucman – who have written frequently on the subject – was released earlier this month. This paper is far better than previous attempts to measure inequality. It includes...

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October 23, 2014

According to 2011 Census data, there are approximately 27 million businesses in the United States. Of these 27 million businesses, 90 percent of them are what are called “pass-through” businesses.

In regard to taxes, the most distinct feature of a pass-through business is that its income is taxed once on the owners’ individual tax returns. Contrast this with c corporations, which pay their taxes directly at the entity level through the corporate income tax then again at the...

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October 22, 2014

Michigan’s Senate approved a bill yesterday to extend the state’s film tax credit program, which was limited and reduced in 2011 and set to expire in 2017. It’s now up to the House to decide whether to proceed. From Mlive:

...

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October 22, 2014

A wealth tax would not be good for the U.S. economy.

In his book, Capital in the 21st Century, Thomas Piketty suggests a wealth tax to fight income inequality. In a recent report, we used our Taxes and Growth model to evaluate the impact of such a tax on the U.S. economy.

Piketty suggests a couple variations on a wealth tax with different rates starting a various...

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October 21, 2014

Today, the Tax Foundation is honoring six individuals with the second annual award for Outstanding Achievement in State Tax Reform. As the award’s name suggests, the honorees were selected due to their extraordinary efforts to advance the cause of simpler, smarter tax policy in the previous year.

Working for better tax policy is not easy, and although a small glass award hardly compares to the efforts the recipients put into what they helped achieve, we believe that it’s...

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October 20, 2014

The Irish Times reports that the Irish government is considering a 6.25 percent tax rate on intellectual property:

“Irish officials are examining the feasibility of a 6.25 per cent rate on a new corporate tax scheme as the Government moves to shore up inward investment after its decision to scrap the controversial 'Double Irish'...

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October 17, 2014

NPR posted an interesting breakdown of the top ten jobs for each income bracket. Here are a few interesting takeaways:

  • The top job for the top 1 percent of income earners was physicians, followed by managers, chief executives, and lawyers. These are people making over $207,000 a year.
  • The upper-middle income groups with incomes of $40,000 to $103,...
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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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