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.
The last thing policy makers should do is implement policies that encourage a return to cigarettes, and that’s exactly what Newsom’s new vape tax would do.
Democrats see the multi-trillion-dollar coronavirus spending packages as creating their best chance in years to raise taxes.
The BEAT CHINA Act is a “two-fer”—a major move toward a more pro-growth tax code and a carrot rather than a stick approach toward bringing critical manufacturing home.
Could the Covid-19 virus be the crisis that forces the federal government to begin setting its house in order?
This plan delivers the right amount of aid to the right people, and minimizes the eventual drain on taxpayer dollars.
This proposal would get substantial help directly to the people and businesses who need it, while minimizing the drain on the federal budget—unlike most of what’s being considered in Washington.
Recession and economic stimulus is the wrong paradigm for the current situation. That hasn’t stopped many of our conservative friends from turning to the tried-and-true solutions of tweaking tax incentives, which don’t directly address the problem.
Maybe it’s time for policymakers to start focusing on real structural reforms that result in long-term prosperity, instead of constantly relying on short-term fixes.
The coronavirus-related economic fears are leading liberals to propose their only solution to any problem: handing out more tax dollars.