Blog Post Round-Up

June 22, 2008

  • Canada’s Dress Rehersal for the U.S. Carbon Tax Debate: Thanks to our neighbors to the North, we no longer have to speculate what the debate will look like when the next president introduces his solution to global climate change.
  • Delaware Hits the Tax Jackpot: Congratulations to Delaware, which this week received an unexpected $63.3 million corporate income tax payment. The payment, equivalent to about 1.5% of Delaware’s $4.2 billion FY 2008 budget, was so surprising that state tax officials at first thought the wire transfer was intended for New York or California and mistakenly sent to Delaware.
  • A Brief Review of the Literature for Presidential Hopefuls: As the research listed above indicates (relying on the experience of developed nations over the past 20 years), there is plenty of evidence to suggest corporate tax rates “boost economic growth and productivity”—not to mention real wages and living standards for US workers.
  • Chicago Sues eBay, Seeks Amusement Tax Revenue: On May 19, Chicago filed suit in Cook County Circuit Court against eBay, seeking to force the Internet auction website to collect the city’s amusement tax on tickets resold using the site.
  • Tax Humor: New Tax Foundation YouTube Video: Why is it so difficult to enact meaningful tax reform? It would take us all day to write a comprehensive answer to that question, but if you’re searching for a quick, amusing answer, take a look at our new video on YouTube, “Takin’ on the Tax Code.”
  • Michigan Hopes Tax Credits Will Move Hollywood to Detroit: As we have stated before, film tax credits like the one offered by Michigan are poor tax policy for several reasons.
  • Sen. Coleman Seeks Increase in Mileage Reimbursement Rate: Sen. Norm Coleman (R-MN) last week wrote to and spoke to IRS Commissioner Douglas Shulman, requesting that mileage-deduction rates for business-related travel be increased to reflect higher gasoline costs.

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