The Tax Policy Blog

September 07, 2016

Over at Vox, Alvin Chang has written an article titled, “This simple cartoon shows how US taxpayers help make rich bankers even richer.” While cartoons about tax policy are always appreciated, the article contains several factual errors and misleading claims about how CEOs are taxed in America.

The article begins by making an incorrect claim: that the federal government does not tax...

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September 07, 2016

Today is September 7, the date in 2012 when the national debt passed the $16 trillion mark. Today it stands at $19.5 trillion.

Here are some interesting links I came across:

Puerto Rico Defaults on Another Bond: Puerto Rico’s Government Development Bank, which the island loaded up with debt as it ran out of money,...

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September 06, 2016

It has been more than 30 years since the last major overhaul of the U.S. federal tax code – the Tax Reform Act of 1986 – and many lawmakers are getting restless. Over the past few years, several members of Congress have drafted original proposals for reforming the U.S. tax code, ranging from six-page white papers to 980-page bills.

These plans reflect a widespread, bipartisan consensus that the U.S. tax system is overly complex, inefficient, and uncompetitive. While none of the...

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September 06, 2016

Today is September 6, the birthday of New Jersey Governor Chris Christie (R). Over the Labor Day weekend, Christie tore up a 39-year income tax reciprocity agreement between New Jersey and Pennsylvania. The action will punish Pennsylvanians who work in New Jersey by subjecting them to much higher New Jersey taxes starting...

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September 02, 2016

On this day in tax history, September 2nd, 1965, the Special Subcommittee on State Taxation of Interstate Commerce released the final volume of its four-volume study on issues pertaining to multistate taxation. That is a real mouthful, and so the report quickly became known as the Willis Commission Report, after Representative Edwin Willis...

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September 01, 2016

Today is September 1, the date in 1914 when Martha, the last known living passenger pigeon, died. While not using passenger pigeons, a Phoenix taxpayer once successfully deducted the care, food, and housing of carrier pigeons as a business expense. The taxpayer was a...

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August 31, 2016

Today is August 31, the birthday of Caligula in the year 12. Roman emperor from 37 to 41, his non-tax excesses are well-covered elsewhere, but when he first came to power he abolished some unpopular taxes and helped those the tax system had harmed. Then when the government ran out of money, he reversed course and levied taxes so punitive that they’ve been...

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August 30, 2016

Earlier today, the European Commission announced that it would require Ireland to collect roughly $14.5 billion in taxes from Apple, after determining that Ireland had granted Apple “illegal tax benefits” under the rules of the European Union. The decision has already ignited a fierce debate: Ireland, ...

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August 30, 2016

Today is August 30, the 123rd birthday of Huey “The Kingfish” Long, governor of Louisiana from 1928 to 1932 and U.S. Senator from then until his assassination in 1935. When governor, he repealed the poll tax, reduced personal property taxes, and created a homestead exemption. In 1934, he pushed through a 2 percent state gross receipts tax on newspapers with a circulation of more than 20,000, what he termed a “tax on lying” but what...

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August 29, 2016

Today is August 29, the 397th birthday of Jean-Baptiste Colbert, the French Minister of Finance under King Louis XIV and reorganizer of the finances of the country along protectionist lines. On taxes, though, he sought to broaden the base of tax and lower the overall rate, and his summation of his views on taxation sticks with us today: “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing.”...

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August 26, 2016

Today is August 26, the date in 1842 when Congress changed the federal fiscal year start from January 1 to July 1, to give Congress time to deliberate and pass a budget. Congress frequently missed the deadline, so in 1976, the federal fiscal year was changed to October 1. Congress still misses the date a lot. About two-thirds of private companies stick with January 1 for their fiscal year start date....

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August 25, 2016

Today is August 25, the 100th birthday of the National Park Service. The Service manages 59 national parks and 354 other sites, areas, and monuments. The NPS spends about $3 billion per year, raising about $500 million of it from fees, donations, and other private sources (including an $80 annual pass to all national parks). The NPS also has...

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August 24, 2016

Today is August 24, the date in 1814 when British troops during the War of 1812 pushed aside American militia at Bladensburg, Md., marched into Washington, D.C., and set fire to government buildings including the Treasury. They also burned the Capitol, the White House, the Library of Congress, and the War Building, leaving the Patent Office intact so as to not...

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August 23, 2016

Earlier today, Hillary Clinton’s presidential campaign released a small business policy plan, which includes several proposals aimed at simplifying tax filing for small businesses.

So far, during the campaign, Clinton’s tax proposals...

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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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