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.
Thank You, Sir, May I Have Another?
The states are looking for more revenue, and digital goods and services are at the top of their lists.
Capitol Hill
Sens. Dick Durbin and Mike Enzi are "pro-taxers" who are "trying to avoid a debate on the merits" of an e-commerce sales tax bill by adding it as an amendment to the Small Business Jobs and Tax Relief Act, the Institute for Policy Innovation said Wednesday to Communications Daily.
The Internet Tax Is Back
Although all 50 states report an increase in tax receipts they want more, and are trying to get more via the so-called Marketplace Fairness Act, even if it involves trampling on Supreme Court precedent.
The Constitution Is a 'Loophole'?
Haven't we already seen enough damage done to the Constitution with legislation that raises taxes and increases costs?
Preventing Another Tax Disaster
It’s time for the federal government to step up and protect consumers from the threat of unfair, duplicative taxes on their digital purchases.
President Obama's "No-Growth" Tax Cut Plan
Today President Obama said he wants to extend what are known as the Bush tax cuts, which expire at year's end, but only to those whom the president deems worthy.
Matthews: Chief Justice Roberts Went Out of His Way to Hand President Obama a Victory
“It’s as if Chief Justice John Roberts went out of his way to hand President Obama a victory,” said IPI's Merrill Matthews. "And now that the Supreme Court has upheld Obamacare, let’s see if the public also upholds it come November."
Van Hollen and Ways and Means Democrats Introduce Extension of 100% Bonus Depreciation Deduction
Rep. Chris Van Hollen introduced the Invest in America Now Act this week to extend 100% bonus depreciation through 2012 to encourage capital investments and job growth. A statement cites as background information evidence from IPI's 2001 study that every $1 of tax cuts devoted to accelerated depreciation generates about $9 of GDP growth.
There's a Triple Tax Increase in Your Future
The so-called Bush tax cuts are set to expire at the end of the year. That means that all of the current income tax rates will rise to pre-2001 levels overnight. But there's more. The health care law imposes a new 3.8% tax on passive income, including dividends and interest. So the effective dividend tax rate for those at the upper end of the income scale would nearly triple, to 43.4%. Happy New Year!
Tax Rules for the Information Superhighway
Pro-tax forces across the country see broadband as yet another goose to be plucked.
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