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.
Dark Cloud Falling: State and Local Pension Funds Are Struggling--Again
Once again a tanking stock market is threatening the financial stability of most state and local public employee pensions. Here's an alternative that would solve that problem.
We've Only Just Begun . . . to Spend
If you think inflation is bad now, wait until state and local governments and the feds start spending all of that appropriated money in the infrastructure bill.
An End to the Wussification of the Corporate CEO?
CEOs used to avoid alienating customers by speaking on political and social issues; but they have the right and expertise to speak out when President Biden makes ludicrous economic claims.
Confused About President Biden's Policies? You're Not Alone
A stable economy needs stable policies. And businesses, consumers and regulators all need to know what those policies are. Unfortunately for the economy and the country, Biden’s policies keep shifting, depending on the latest crisis — and the latest polls.
Cut in Corporate Tax Rates Overachieved
The 2017 tax cut legislation performed better than the CBO predicted, and even better than I predicted.
Supreme Court Correctly Rules on . . . SALT Deduction
One of the reasons the SALT cap withstood the court challenge is because it’s actual legislation. It would be a grotesque overreach for the judicial branch to overturn a legitimate exercise of self-government through the legislative process.
Biden's Already Reducing Wealth Inequality--By Killing the Economy
Biden campaigned on reducing wealth inequality, and he’s certainly done that. Wealthy people with money in the stock market are likely worth a lot less today than at the beginning of the year.
President's Council of Economic Advisers Pushes Higher Taxes on the Wealthy
Taxing wealth reduces the incentive to create wealth and transfers it from where it is used productively to the government where it likely won’t be used productively. That transfer causes lower growth, not higher growth.
The Real Question: Should Florida Have Given Disney Perks in the First Place?
There's a better way to attract companies to a state: a stable, low-tax and -regulatory environment that benefits all businesses.
Bracket Creep
States that have never indexed their income tax rates should learn from states that have and use this time of flush state budgets to do so.
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