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.
Brady Briefing: Ways & Means Important to Texas, U.S.
Tom Giovanetti, president of the freedom-oriented IPI, recently wrote “Now that Texas Republican Kevin Brady chairs the Ways & Means Committee, he will have more to say about the details of any eventual tax reform than will the future president. So what really matters is Brady’s priorities…and they are encouraging”.
Comparing the Major Candidates' Tax Plans
Most of the major presidential candidates have released tax reform plans with enough specifics to run them through an economic model. On tax policy, Republicans tend to focus on economic growth, while Democrats tend to focus on distributional effects.
The Value-Added Tax Should Be Political Poison for Advocates of Limited Government
Bartlett Cleland of the Institute for Policy Innovation writes: The VAT is attractive to those who…[w]ant to grow government… Whether or not those proposing such taxes are interested in expanding the scope of government is almost irrelevant, because once the tools for such expansion are in place they can be used by future politicians to grow government subtly. Similarly, whether a tax is labeled as a VAT or not is also irrelevant if the function is the same—for example by not allowing companies to deduct wages.
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Missing the Biggest Point on Corporate Tax Reform
The corporate tax is actually a hidden tax on employees, shareholders and consumers. When we raise taxes on corporations, they simply pass the tax along in the form of lower wages, lower dividends, and higher prices.
Support Permanent Internet Tax Freedom
Since 1998, the federal government has prohibited states and localities from imposing such taxes. This has helped Americans from all backgrounds gain access to the Internet. The economic and educational benefits of this policy are vast and immeasurable. It is long past time for Congress to make permanent the ban on Internet access taxes.
Coalition Letter in Support of Permanent Internet Tax Freedom
Since 1998, the federal government has prohibited states and localities from imposing such taxes. This has helped Americans from all backgrounds gain access to the Internet. The economic and educational benefits of this policy are vast and immeasurable. It is long past time for Congress to make permanent the ban on Internet access taxes.
Should Food Stamps Be Restricted to Healthy Food Products?
Maine Governor Paul LePage wants to make the food stamp program more of a safety net and less of a hammock. Former Texas Senator Phil Gramm would have agreed.
'Tis the Season for PITFA
Speaker Ryan has an opportunity to make his mark by moving pieces of legislation that are relatively non-controversial and have broad support. The most obvious candidate is the Internet Tax Freedom Act (ITFA), set to expire Dec. 11, which bans taxes on Internet access and bans taxes that discriminate against ecommerce.
What Bernie Sanders Can Learn from a New York Times Reporter About French Tax Policy
Will one socialist learn from another socialist about marginal tax rates? Probably not.
Why Republican Presidential Candidates Should Abandon Their VAT Tax Proposals
To introduce a hidden tax as part of a tax plan is a sure path to failure of transparency, and a failure to serve the citizens.
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