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.
IPI Applauds FCC Effort to Curb Municipal Abuse of Cable Franchise Authority
We appreciate the FCC’s aggressive efforts to protect consumer interests and ensure that out-of-control local governments don’t erect counterproductive barriers to increased adoption of broadband services throughout the country.
They Want Your Retirement Savings
The SECURE Act will prevent you from using your IRA to bless your children and grandchildren. It would be an ominous precedent.
Could the 2020 Election Hinge on...Taxes?
The Democratic candidates all claim their new programs and tax increases would boost the economy. Ironically, their chief goal is to repeal Trump’s one accomplishment, tax reform, that actually has improved the economy.
Debunking Democrats' Claims About Fossil Fuel Tax Breaks
Democratic presidential frontrunner Joe Biden hopes to pay for his version of the Green New Deal by eliminating the subsidies and tax breaks given to the fossil fuel producing industry, and he’s not alone.
Stock Alert: Toyota Considers a Money-Losing Electric Vehicle Strategy
Toyota stock may struggle in the near future as the company decides to dramatically crank up its electric vehicle production.
Tariffs Are Taxes
President Trump is threatening to raise taxes on Americans. Again. That’s because tariffs are taxes, and they are paid by Americans, not by foreigners.
Fingers Crossed That the Travel Tax Bill That Died in the Legislature Remains Buried
Most House Republicans have committed in one way or another to not raise taxes, but this seems to be a session characterized by commitments broken and principles betrayed.
Finally, a Market-Oriented Way to Help Poor Communities
Finally, Congress passed legislation, led by Sen. Tim Scott, that might just help increase investment in low-income communities, and the regulations were recently released.
Texas Tax Swap: The Devil's In the Details
"We have no objection in principle to a revenue neutral tax swap that reduces property taxes by increasing consumption taxes, especially since consumption taxes are a less harmful form of taxation," said IPI president Tom Giovanetti. "A revenue neutral tax swap is not a tax increase. The devil is in the details, however."
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