Though providing permanent R&D expensing alone would not be a China-competition magic bullet, it is a no-brainer place to start. In this technological race, we should first make sure we have not tied our own shoes together.
4 min read
Vermont lawmakers are considering the adoption of two new taxes on high earners, which proponents have branded “wealth taxes.”
4 min read
Short FormDon’t be fooled by tax myths and misconceptions this tax filing season.
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Does your state have a small business exemption for machinery and equipment?
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Portugal has the second highest top corporate tax rate in the OECD at 31.5 percent, including multiple top-up taxes. Unlike most OECD countries, Portugal imposes a highly progressive tax structure on corporate income.
6 min read
Expanding Virginia’s sales tax base to include B2B digital transactions could lead to tax pyramiding, hide the true cost of government, and make the sales tax system much less neutral and transparent.
5 min read
Creative options including changes in Social Security benefits growth for higher earners and reforms to how Medicare compensates for health services should be on the table, along with broad-based and well-structured tax reforms.
6 min read
Pillar Two, the international global minimum tax agreement, has a considerable chance of failing and may ultimately allow the same problems it was designed to address.
6 min read
Only three European countries levy a net wealth tax—Norway, Spain, and Switzerland. France and Italy levy wealth taxes on selected assets.
4 min read
What does it mean to be an American company?
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Tax-preferred private retirement accounts often have complex rules and limitations. Universal savings accounts could be a simpler alternative—or addition—to many countries’ current system of private retirement savings accounts.
19 min read
Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections. How do income taxes compare in your state?
8 min read
The pandemic led to one of the largest fiscal responses in U.S. history, impacting households across the income distribution.
4 min read
Short FormWorking from home is great. The tax complications? Not so much.
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The landscape of tax policy is changing—and we at the Tax Foundation are changing with it.
3 min read
The CBO projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs While some recent legislation has reduced the deficit, the Inflation Reduction Act is proving to be more expensive than originally promised.
5 min read
Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.
3 min read
For most Americans, saving is a taxing experience. Our neighbors to the north have found a better solution—and U.S. lawmakers should take note.
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One particular provision of the Biden administration’s proposal to ban so-called “junk fees” would have unintended consequences.
5 min read
Limiting interest deductibility continues to be a worthwhile policy goal, but given the current climate, policymakers should opt to pair any further limitations with other pro-growth policies such as full expensing to ensure firms’ incentives to invest are preserved.
3 min read