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.
More Good News on State Taxes
States that have a low flat rate or no state income tax are seeing significant revenue growth.
Taxing Wealth Is Taxing Work
President Biden's effort to punish the wealthy with higher taxes reveals, yet again, that he doesn't understand either wealth or tax rates.
A National Sales Tax Would Be Simple and Efficient--But the Current Plan Won't Work
The only way a national sales tax could actually work is if the percentage could be significantly lower. But doing that would require Congress to vastly reduce federal spending. Not much chance of that.
A Better Way to Pay for Roads
It’s time to start talking about phasing out fuel taxes and phasing in usage taxes. It simply makes sense that those who put the most stress on our transportation infrastructure and who profit from the roads have a proportional share in paying for them.
Constitutions Matter for Tax Rates
One benefit of a flat tax is that legislators can't stick it to high-income individuals and corporations without sticking it to everyone.
Does Higher Pay to Legislators Lead to Better Governance?
States that pay their legislators the most get, in return, higher taxes, more regulations and terrible governance.
'I Want High-Income Earners to Stay'
New York City Mayor Eric Adams learns a lesson: Increasing taxes on the rich is the best way to ensure NYC loses revenue.
Evidence that Low Tax Rates Encourage Compliance, High Rates Don't
The Democrats' Inflation Reduction Act ironically provides evidence for why low tax rates promote tax compliance.
Tighten the Earned Income Tax Credit
The Earned Income Tax Credit was created to encourage work. But its "refundable tax credit" has turned it into a massive welfare program that punishes those who work and earn too much.
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The Bad News from Taxachusetts
Massachusetts demonstrated its opposition to high taxes in 1773. But by ending its flat income tax rate, the Bay State has abandoned its heritage.
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