The Tax Policy Blog

July 18, 2016

Today is July 18, the 69th birthday of Steve Forbes, who ran for President in 1996 on a platform of enacting a 17 percent flat tax. Forbes said: “The tax code is a monstrosity and there’s only one thing to do with it. Scrap it, kill it, drive a stake through its heart, bury it and hope it never rises again to terrorize the American people.”

Here are some interesting links I came across:

  • Google Responds to European Tax Accusations: CEO Sundar Pichai...
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July 18, 2016

Our analysis of the House Republican tax plan was criticized by Jared Bernstein in The Washington Post last week. I have a couple of concerns with Dr. Bernstein’s thinking that I would like to share here.

One issue with the thinking is a confusion of gross and net values. Bernstein asks, rhetorically, how a $2.4 trillion tax cut could pay for 92 percent of...

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July 18, 2016

This is part one of a four-part series discussing Measure 97 and recent analysis from the Oregon Legislative Revenue Office. Read parts ...

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July 18, 2016

This is part two of a four-part series discussing Measure 97 and recent analysis from the Oregon Legislative Revenue Office. Read parts one, ...

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July 15, 2016

Today is July 15, the date in 1799 when the Rosetta Stone was rediscovered in Egypt by a French soldier. The stone, a boring tax decree issued by Pharoah Ptolemy V in 196 BC, is notable because it provides three versions of the decree in hieroglyphs, Demotic script, and Ancient Greek. The stone thus enabled modern day scholars to understand hieroglyphs.

Here are...

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July 14, 2016

Pennsylvania lawmakers finally broke the state’s budget impasse this week, reaching an agreement on new revenues to shore up a $31.5 billion budget. The plan increases the cigarette tax by $1 per pack, extends the state sales tax to digital downloads, taxes lottery winnings, and legalizes online casinos, with other smaller changes. One such change is a new tax on e-cigarettes, also known as...

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July 14, 2016

A series of New York reports has caused the effectiveness of two job incentives programs to come under scrutiny.  NY State Comptroller Thomas DiNapoli (D) released a report that was highly critical of the Excelsior Jobs Program. Additionally, the Empire State of Development (ESD) released a long-overdue analysis on the Start-Up NY program...

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July 14, 2016

The Earned Income Tax Credit (EITC) is one of the United States’ most important social programs, yet happens to be bogged down with some of the most complicated eligibility requirements in the tax code. The excessive complexity has commonly led to it being considered a “high-risk tax program” in need of reform by some governmental agencies.

The EITC provides benefits to millions of low-income taxpayers. It is...

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July 14, 2016

Today is July 14, the date in 1832 when the Tariff of 1832 was passed, reducing the extraordinary rates from the earlier “Tariff of Abominations” (of 1828). Rates were lowered somewhat but were still too high for the South, continuing the Nullification Crisis. It’s also...

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July 13, 2016

On November 8, Oklahomans may be asked to decide on State Question 779, a one percentage point sales tax increase. The ballot question’s status is uncertain: in late June, opponents filed a legal challenge contending that the ballot description and summary fail to adequately explain the sales tax increase proposal. They seek removal of the measure from the ballot. Should the measure indeed go to the voters, however, it bears asking what the...

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July 13, 2016

Today is July 13, the date in 1866 when Congress repealed most of the excise taxes passed to fund the Civil War (the income tax, while reduced,...

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July 12, 2016

Today is July 12, the date in 1934 when Louisiana Gov. Huey Long pushed through a 2 percent gross receipts tax on newspapers with a circulation of more than 20,000, what he termed a “tax on lying” but what everyone else understood was an attack on critical press coverage. The 13 largest newspapers sued, and it went all the way to the U.S. Supreme Court. There, on February 10, 1936, the tax was struck down in ...

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July 11, 2016

The surge in inequality over the past few decades has led some economists, notably Thomas Piketty, to advocate the taxation of wealth. However, the impact of wealth taxes on wealth accumulation has not been widely studied. Using data from households in Switzerland, a group of economists recently found that...

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July 11, 2016

Today is July 11, the date in 1804 of the famous duel between Vice President Aaron Burr and former Treasury Secretary Alexander Hamilton. The animosity between the two was built on the differing economic philosophies of their political parties, and years of personal animosity built on top of that. Hamilton died and Burr’s political future was wrecked.

Here are some interesting links I came across:

  • ...
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July 08, 2016

This past April, the Treasury Department announced its intention to expand regulations on activities of corporations in order to make earnings stripping more difficult for inverted firms. Although the regulations under section 385 of the IRS code are not expected to be finalized until the fall, the business community has already expressed its...

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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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