The Tax Policy Blog

May 16, 2016

On May 13, Mississippi Gov. Phil Bryant (R) signed legislation to phase out the state’s archaic franchise tax. Income and self-employment taxes will also be reduced.

My first testimony to a state was in 2008, in Mississippi. I focused on the state's...

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May 13, 2016

Today is May 13, the birthday of John Kasich, the only 2016 presidential candidate who never released a detailed tax plan.

Here are some interesting links I came across:

  • States Could Raise Over $5 Billion a Year from Marijuana Taxes: Our new report...
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May 12, 2016

Today, AP is reporting that an effort to put a soda tax on the ballot in San Francisco has experienced a setback as the organizers missed a deadline to turn in signatures by one day.

…elections director John Arntz, whose office verifies the signatures, said the campaign missed the deadline to submit those signatures.

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May 12, 2016

Taxing marijuana presents new and unique challenges. That's why we've released two studies that serve as guides for legislators, the media, and the public as to the state of marijuana taxation today and the implications of taxing marijuana in the future.

You can find summaries of each study with links to the full reports below:

Marijuana...

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May 12, 2016

Today is May 12, the date in 1933 when Congress passed the Agricultural Adjustment Act (AAA). The AAA imposed a tax on companies which processed farm products, dividing the proceeds among farmers who agreed to abide by federal rules limiting crop planting and excess livestock. The Supreme Court struck down the AAA in 1936, concluding that while...

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May 11, 2016

The Nevada Supreme Court just handed down its ruling in Coalition for Nevada's Future v. RIP Commerce Tax, a case involving Nevada's new Commerce Tax on gross receipts that went into effect on July 1, 2015. Opponents of the tax had begun...

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May 11, 2016

The European Green Party today labeled the United States a tax haven, particularly singling out the states of Arkansas, Colorado, Delaware, Indiana, Iowa, Maryland, Michigan, Mississippi, Missouri, New York, Ohio, Oklahoma, Pennsylvania, and Virginia. That’s a lot of states, places that most just consider ordinary areas in which to do business.

The Tax Justice Network also publishes a...

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May 11, 2016

Today is May 11, the day Minnesota became a state in 1858. Minnesotans pay 10.8 percent of their income in state and local taxes, the 8th highest in the nation. Happy birthday, Minnesota!

Here are some interesting links I came across:

  • Trump Won’t Release Tax Returns: "There's nothing to learn from them” and voters don’t care about them, ...
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May 10, 2016

Last week, the Labor Department released disappointing productivity figures. Labor productivity has been falling for six months in the non-farm business sector. Multi-factor productivity (labor and capital combined) is barely growing.[i] In recent years, both have grown at a small fraction of their long run averages.

Productivity matters because it is the source of wage growth over time. Wages raise when workers are able to...

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May 10, 2016

Today is May 10, the anniversary of Parliament’s passage of the Tea Act in 1773, which gave preferential tax treatment for British tea exports to North America. The Tea Act sought to use tax policy to wipe out non-British competitors, with the side “benefit” of getting colonists to buy the cheaper but still taxed tea and thus accept Parliament’s power of taxation over them. Colonists didn’t go along with it, responding by dumping the tea...

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May 09, 2016

In an effort to make the 35 percent U.S. corporate tax rate more competitive with the rest of the world, Congressman Tom Emmer (R-MN) has introduced an interesting bill (H.R. 4518, the “Create Jobs Act of 2016”) that seeks to tie the U.S. corporate tax rate to the average rate imposed by our major trading partners in the OECD. Emmer’s catch is, the U.S. federal corporate tax rate should always be pegged 5 percentage points below the simple average of the OECD nations, excluding the U.S. So...

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May 09, 2016

One of the least effective features of Hillary Clinton’s tax plan is its sliding scale for the capital gains tax rate in the top bracket. Instead of having a single rate, taxpayers in the top bracket would now have six different rates based on the holding period for investments.

...

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May 09, 2016

Today is May 9, the date in 1873 when the Vienna Stock Exchange collapsed, signaling the beginning of the Long Depression (1873-1879) of severe deflation and recovering from overleveraged debt.

Here are some interesting links I came across:

  • Taxpayers Reveal that IRS is Auditing Them by Telephone: The ...
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May 06, 2016

Today is May 6, the date in 1862 when Henry David Thoreau passed away. Thoreau famously refused to pay his taxes because of his opposition to war and slavery, spending a night in jail until someone paid his overdue taxes for him.

Here are some interesting links I came across:

  • Trump Backs Away From Elements of His Tax Plan: ...
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May 05, 2016

Iowa is a state rich with human capital, but held back by a complicated and out-of-date tax system. Today we're pleased to release Iowa Tax Reform Options: Building a Tax...

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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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