Tax and Financial Illiteracy Are Costing Americans
The better we understand taxes, the better we can manage our finances, but it starts with familiarizing ourselves with basic tax concepts like how tax brackets work.
3 min readDaniel Bunn is President and CEO of the Tax Foundation. Daniel has been with the organization since 2018 and, prior to becoming President, successfully built its Center for Global Tax Policy, expanding the Tax Foundation’s reach and impact around the world.
Prior to joining the Tax Foundation, Daniel worked in the United States Senate at the Joint Economic Committee as part of Senator Mike Lee’s (R-UT) Social Capital Project and on the policy staff for both Senator Lee and Senator Tim Scott (R-SC). In his time in the Senate, Daniel developed legislative initiatives on tax, trade, regulatory, and budget policy.
He has a master’s degree in Economic Policy from Central European University in Budapest, Hungary, and a bachelor’s degree in Business Administration from North Greenville University in South Carolina.
Daniel lives in Halethorpe, Maryland, with his wife and their three children.
The better we understand taxes, the better we can manage our finances, but it starts with familiarizing ourselves with basic tax concepts like how tax brackets work.
3 min readDo tariffs really level the playing field, or are they just bad economics? In this emergency episode, we fact-check the Trump administration’s claims that retaliatory tariffs make trade fairer.
What are the biggest tax stories shaping policy today—and what do they mean for you? In our 100th episode, we break down the five biggest tax stories, from the global tax deal to the looming expiration of the Tax Cuts and Jobs Act.
Lawmakers should prioritize pro-growth tax policies and use the least economically damaging offsets to make the legislation fiscally responsible. If lawmakers choose to use C-SALT, they should carefully consider the economic trade-off with permanent, pro-growth tax cuts that support investment and innovation in the US.
7 min readThe agreement represents a major change for tax competition, and many countries will be rethinking their tax policies for multinationals. If there is no agreement on changes to Pillar Two or digital services taxes, retaliatory American tariffs could be on the horizon.
8 min readRepublican policymakers in Congress are considering options to raise revenue as part of their expected legislative package in 2025. One such option involves raising the tax rate on university endowments first put in place as part of the TCJA in 2017.
4 min readWhat will the future of tax policy look like? In this episode, we dive into the critical challenges and opportunities looming on the horizon, especially with major tax cuts set to expire, which could increase taxes for 62 percent of filers.
The holiday season is marked by time with friends and family, joy, and gift-giving. But could tax policy make the sticker shock from your shopping list next year tariff-ying?
4 min readIf lawmakers are serious about pro-growth policies and fiscal responsibility, they will need to put policies forward that achieve those goals. Simply adjusting the baseline doesn’t reduce actual deficits in the coming years.
7 min readToday marks 55 years since two students sent the first message across the Advanced Research Projects Agency Network (ARPANET) between computers at four universities, which would later become the internet we enjoy today.
5 min readSmart tax policy takes into account how policy changes impact real people. Understanding who bears the burden of the corporate tax and the effects of a higher rate are essential to sound policymaking.
4 min readThe global tax deal and Pillar Two are shaking up the tax landscape worldwide, introducing a web of complexity and confusion.
As members of Congress prepare to address the expiration of the TCJA, they should appreciate how revenues have evolved since 2017.
4 min readEuropean Union Member States are in the process of implementing the global minimum tax in line with a directive unanimously agreed to at the end of 2022.
3 min readGiven that U.S. debt is roughly the size of our annual economic output, policymakers will face many tough fiscal choices in the coming years. The good news is there are policies that both support a larger economy and avoid adding to the debt.
6 min readDifferent taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
3 min readDesigning tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.
3 min readWhat does it mean to be an American company?
4 min readHistorical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower economic output.
5 min readThe rules of tax competition are changing with the recent agreement on a global minimum tax and other changes to tax rules around the world, but that does not mean the contest is over.
5 min read