Excessive tax rates on cigarettes approach de facto prohibition in some states, inducing black and gray market movement of tobacco products into high-tax states from low-tax states or foreign sources.
7 min read
The last time the U.S. reduced its federal corporate income tax rate was in 1986. Since then, countries throughout the world have significantly reduced their rates, leaving the U.S. with the fourth highest statutory corporate tax rate in the world and an overall uncompetitive tax system.
11 min read