[This post was written jointly with Ben Spielberg] Most state governors want to bring more businesses and employment to their states and maintain sustainable budgets. An important new paper from two of our colleagues, Michael Mazerov and Mike Leachman (M&L), provides a new and important insight in this regard: incentives in the form of tax… Read more
Readers know I’ve long called for an increase in the federal gas tax. I’m not trying to piss anybody off–believe me, I was initially pleased earlier this week when I filled my tank up for under $20! Then, I thought about how fossil fuels are truly under-priced. I mean this in two senses. First, we… Read more
The Wall St. Journal ran an interesting piece this morning showing how the effective tax rate—taxes as a share of income—spiked up significantly in 2013 for the wealthiest taxpayers due to an increase in the tax rate on capital gains. This is important information and the piece appropriately highlights how the higher rate sharply increased… Read more
Does your tax plan raise revenue and push back on pretax inequality? If so, I’m all ears. OTOH, if it loses revs and worsens inequality, well…here’s what I have to say about that.
Here’s a smart idea from the TPC’s Steve Rosenthal on a way to make corporate tax inversions more costly to companies engaged in this particular brand of tax avoidance. You put up a toll booth in the form of an exit tax on their deferred earnings, i.e., profits they’ve held overseas (really, “booked” overseas) but… Read more