Taxes

The recent agreement on a global minimum tax and other changes to tax rules around the world have called into question the future of tax competition. It is difficult to anticipate how tax competition will ultimately be impacted by these changes, although I seriously doubt that the usefulness of Tax Foundation’s International Tax Competitiveness Index

At the federal level, the state and local tax (SALT) deduction has emerged as a hot-button political issue ever since the deduction was capped at $10,000 under the Tax Cuts and Jobs Act (TCJA) of 2017. The SALT deduction has defenders as well as detractors, but a peculiar inversion of it—a state deduction for federal

The breakdown of supply chains both domestically and worldwide currently dominates headlines. One strong explanation of supply chain failures is the dramatic increase in federal spending throughout the pandemic—raising aggregate demand—combined with the COVID 19-era shift of consumption from services to physical goods. That, coupled with preexisting issues that limit the ability of our ports

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Can’t impersonate guilt; Breakthrough busted; married lawyers plead; and other highlights of recent tax cases. Tampa, Fla.: Brenda Dozier, 54, has pleaded guilty to conspiracy to commit money laundering. From July through at least November 2015, Dozier laundered money that had been extorted from U.S. residents by conspirators residing in the States and overseas. India-based

Tax reform should simplify the tax code. Instead, Congress is debating new ways to raise revenue that would make the tax code more complex and more difficult to administer. The new proposals—imposing an alternative minimum tax on corporate book income, applying an excise tax on stock buybacks, and, at one point this week, a tax

Election Day will be a modest affair in 2021, perhaps a welcome respite from the inflamed politics of recent years. Despite few statewide races, however, voters in some states will decide important questions by ballot measure. Of particular note, through 10 ballot measures across four states—Colorado, Louisiana, Texas, and Washington—voters will decide significant questions of

The year’s worst ideas; cyber-currency phrase book; the shutdown and taxes; and other highlights from our favorite tax bloggers. The winners are… Tax Vox (http://www.taxpolicycenter.org/taxvox): The top Lump of Coal Awards for the Worst Tax Idea of 2018, including New Hampshire’s fighting collecting sales taxes; Seattle’s “head tax” on large employers and Sen. Bernie Sanders’s

Congressional Democrats are reported to be weighing a special tax on the assets of billionaires to raise revenues to pay for their Build Back Better spending plan. There are two fundamental challenges to such a plan. First, the incomes and wealth of such individuals are anything but stable; they rise and fall with the economy

Stat scam; shopping center switcheroo; what a pain; and other highlights of recent tax cases. Houston: Jonathan Adam Van Pelt, former owner of a local staffing company, has admitted he willfully failed to account for and pay federal employment taxes. Van Pelt withheld federal income taxes and Social Security and Medicare taxes from the wages

On May 4th, Gov. Jay Inslee (D) signed legislation creating a 7 percent capital gains tax, to take effect next year. On November 2nd, Washington lawmakers will learn what voters think about it. Although the ballot measure asking voters to recommend on retaining or repealing the new tax is purely advisory, this gauge of voter

Pre-season checklist; whether carbon taxes; best Twitter bets; and other highlights from our favorite tax bloggers. In with the new Tax Foundation (https://taxfoundation.org/blog): Our favorite opening of the week: “Champagne will flow, ‘Auld Lang Syne’ will be sung, resolutions will be made (and soon forgot, and never brought to mind), and, in a handful of