The Tax Policy Blog

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Today is July 13, the date in 1866 when Congress repealed most of the excise taxes passed to fund the Civil War (the income tax, while reduced,...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's 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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July 08, 2016

(Click here for Part 1)

Last week, the Democratic platform committee released a draft of the 2016 Democratic Party platform, which contains a great number of tax policy proposals. While party platforms are usually symbolic documents, there is...

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July 08, 2016

Today is July 8, the 58th birthday of actor Kevin Bacon, the center of the “Six Degrees of Kevin Bacon” parlor game. In 2009, IRS tax examiner John Snyder was convicted of abusing his power to look up tax records of 200 prominent celebrities and professional athletes. Perhaps because of the Six Degrees...

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July 07, 2016

When the New Hampshire legislature presented Governor Maggie Hassan (D) with a program of modest reductions to the state’s business profits tax (a corporate income tax) and business enterprise tax (essentially a value-added tax), she initially rejected the proposal, arguing that the reductions would “create a more than $90 million budget hole.” Eventually, however, the governor acquiesced on...

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July 07, 2016

Today is July 7, the date in 1846 when a U.S. force landed in Monterey, California, and proclaimed California’s annexation to the United States. The settler-proclaimed California Republic would formally come to end two days later, after lasting 25 days. Check out California’s tax system here.

Here are some interesting links I came across...

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July 06, 2016

New Jersey Governor Chris Christie (R) has shut down most highway projects in the state after lawmakers could not reach a deal last week to revamp its nearly empty Transportation Fund. Last week, the state passed a budget, but the state Senate rejected an Assembly-passed gas...

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July 06, 2016

Today is July 6, the 81st birthday of the present Dalai Lama. Tibet as recently as the 1950s had a quasi-feudal social system, with hereditary “treba” (“taxpayer”) families responsible for owning land and paying taxes, with lighter tax obligations owed by householder peasants and indentured peasants.

Here are some interesting links I came across:

    ...
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July 05, 2016

Last Friday, the Democratic National Platform Committee released a draft version of the 2016 Democratic Party platform.

While party platforms are usually inconsequential documents, a great deal of attention has been paid to this year’s...

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July 05, 2016

Over the weekend, the United Kingdom’s Chancellor of the Exchequer, George Osborne, pledged to lower the corporate income tax rate to 15 percent from the current 20 percent. In pledging the rate cut, Osborne cited the need to keep the UK competitive as it exits the European Union.

Interestingly,...

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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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