Taxes directly affect Americans by compelling them to surrender part of their income to the government, and indirectly since the taxing power can positively or negatively affect economic growth.
In the U.S., our tax regimes are in serious need for reform, both at the state and federal level. Our tax code fails to sufficiently incentivize investment, the primary driver of economic growth. And it hobbles U.S. companies as they compete internationally.
IPI believes that the purpose of taxes is to raise the revenue necessary to fund the legitimate functions of government while imposing the least possible impact upon the functioning of the economy. We therefore believe that taxes should be simple, transparent, neutral, territorial and competitive.
Because of its tremendous potential to stimulate real long-term economic growth, tax reform should be a top priority of policymakers.
Ah. So Taxes DO Affect Decision-Making?
Democrats have largely resisted dynamic scoring because they saw it as a Republican scheme to justify cutting taxes. But now, Democrats have had a sudden religious conversion and are insisting that dynamic scoring be used to evaluate their huge new spending plans.
The Most Dangerous Experiment in World History
The only federal budget deficit larger than the current one was . . . last year’s.
No, Unemployment Rates Won't Return to Pre-pandemic Levels
The White House and media are predicting when unemployment will return to pre-pandemic lows, but that won't happen if the White House and media get their big-government budget blowout.
The Democrats' Power to Tax Is the Power to Destroy the Economy
If Republicans allow Democrats to pass through budget reconciliation everything that was taken out of the bipartisan infrastructure deal, they will be complicit in the economic harms that will inevitably result.
On Housing Values and the Wealth Tax
The problems of a wealth tax far exceed those of other taxes, and we would be wise to avoid it.
Should the IRS Calculate Your Taxes?
Now that everyone is past the various due dates for filing their 2020 income taxes, is there an easier way for Americans to do their taxes? A lot of people apparently think so.
Not The Babylon Bee: Biden Nixes a GOP Gas Tax Increase Proposal
President Biden is schooling some Republicans on the harm caused by taxes hikes—no, seriously.
A Major Tax Scandal
The scandal in the ProPublica tax disclosure story is ProPublica’s illegal disclosure of personal tax information, not the wealthy’s legal compliance with the tax code as designed by Congress.
All This for 1.8 Percent Growth?
So what the Biden administration is proposing is a gargantuan expansion of federal spending and borrowing, which will explode the deficit, further bloat the national debt, and run the risk of monetary inflation, all in order to achieve a rate of economic growth that is lower than that of the previous administration.
Tax Competition Is a Feature, Not a Bug
The Government Class may hate it, but tax competition is a feature, not a bug. What they call a “race to the bottom” is actually strategic pressure to hold governments in check. Attempts among state or national governments to coordinate tax policy should be seen for what it is—collusion to eliminate competition and unleash ever bigger government.
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