Tax Analysts®Tax Analysts®

My Subscriptions:

Jeremy Scott

Editor of Tax Notes

 

All Posts by Jeremy Scott

August 11, 2014 - 2:25 PM EDT
Kansas and Missouri Show the Dangers of Tax Competition
Tax competition isn't just an international issue. While recent headlines have focused on how the high U.S. corporate rate is causing multinationals to relocate to jurisdictions that have cut their taxes or restructured their tax regimes to be more favorable to business (like Ireland and the Unite... [Read More]
August 5, 2014 - 9:22 AM EDT
It’s Not Clear How to Effectively Deal With Inversions
There is almost no one left in official Washington who doesn't think something should be done about inversions. But there is a lot of variety in the solutions being proposed, which makes consensus almost impossible. Most Republicans and some Democrats think inversions can be dealt with only throug... [Read More]
July 29, 2014 - 8:01 AM EDT
Hedge Fund 'Basket' Options and the Second Hundred Years’ War
“The investigation of the income tax returns for each successive year reveals the increasingly stubborn fight of wealthy individuals and corporations against the payment of their fair share of the expense of their Government.” Treasury Secretary Henry Morgenthau, 1937 “More and more enterprises... [Read More]
July 14, 2014 - 3:11 PM EDT
Time Criticizes IRS for EO ‘Rubber-Stamping’
Over the weekend, Time.com posted an article with the headline “IRS to Rubber-Stamp Tax-Exempt Status for Most Charities After Scandal.” The story reported that the IRS had decided to stop screening 80 percent of exempt organization charitable applications each year and included an interview with... [Read More]
July 8, 2014 - 1:10 PM EDT
Could EU Probe Signal the End of Sweetheart Tax Deals?
Multinationals are constantly pushing the envelope to achieve lower effective tax rates. Although U.S. corporations are not the only companies that do this, they are among the most aggressive and benefit from some of the leakiest transfer pricing rules in the developed world. U.S. tax rules are cle... [Read More]
July 1, 2014 - 8:17 AM EDT
IRS Strategic Plan Highlights Effects of Budget Cuts
Make no mistake -- the IRS deserves all the heightened scrutiny and even scorn from congressional Republicans. Its conduct during the exempt organization scandal and the ongoing aftermath has been appalling. Those looking for a conspiracy and White House involvement are missing the point. The IRS'... [Read More]
June 23, 2014 - 12:04 PM EDT
Lost Lerner E-mails Latest Example of IRS Death Wish
Lois Lerner can't escape from her role as a villain in Washington. She is at the heart of the exempt organization scandal that simply won't die. The latest round of the increasingly partisan and bizarre saga is the announcement that Lerner's e-mails from two critical years during the targeting o... [Read More]
June 9, 2014 - 1:47 PM EDT
Whistleblower Highlights Undue Influence at the IRS
The IRS continues to try to rebuild itself following its mishandling of conservative groups' exempt organization applications. The scandal dominated last year, leading to the resignation of the acting commissioner and the quick appointment of a restructuring expert, John Koskinen, as the permanent... [Read More]
June 3, 2014 - 8:46 AM EDT
Camp Waves the White Flag
After years of work and months of anticipation, House Ways and Means Committee Chair Dave Camp, R-Mich., released his comprehensive tax reform draft in February. Even though several detailed proposals on aspects of tax reform had already been released, the complete plan contained a number of surpri... [Read More]
May 19, 2014 - 12:57 PM EDT
The Medical Device Excise Tax Derails Extenders
From a policy perspective, the extenders may not be all that important. Many of the expiring or expired tax provisions are poorly tailored to accomplish their purported goals. House Ways and Means Committee Chair Dave Camp and then-Senate Finance Committee Chair Max Baucus wanted to strip most of t... [Read More]
April 28, 2014 - 12:12 PM EDT
The Most Expensive Extenders
Congress returns this week, and the major tax policy objective for the remainder of the year is to deal with the so-called extenders. These temporary, expired tax provisions have traditionally sailed through Congress (albeit on a delayed and dilatory schedule) for years, with little or no debate ab... [Read More]
April 21, 2014 - 12:51 PM EDT
The Misleading Debate About the Corporate Income Tax
The federal government relies less and less on the corporate income tax with each passing year. As corporate tax receipts fall, some policymakers (including the president) have looked to plug holes in international tax rules, arguing that multinationals are taking advantage of leaky transfer pricin... [Read More]
April 14, 2014 - 1:38 PM EDT
Why the Free File Alliance Is Bad for Taxpayers
It's almost tax day, and many taxpayers are probably struggling to finish their returns or contemplating filing for an extension. The classic picture of a harried citizen crouched over a paper return frantically erasing numbers is out of date thanks to the advent of e-filing, but the use of online... [Read More]
April 7, 2014 - 1:13 PM EDT
Audit Electability
In an ideal world, tax laws do not drive business decisions. Instead, the tax system should accurately reflect how businesses operate and then capture the proper amount of revenue for the government. That was one of the main selling points for the check-the-box regulations. However, a taxpayer's c... [Read More]
March 31, 2014 - 12:12 PM EDT
‘Fair Shot for Everyone’ Contains Details for No One
Setting a new low for lack of detail and specificity, Senate Democrats unveiled their “Fair Shot for Everyone” agenda last week. Only loosely a set of real proposals, the agenda is merely a series of talking points designed to distract voters from President Obama's lagging approval numbers and t... [Read More]
March 24, 2014 - 12:08 PM EDT
Portman’s Disappointing Tax Reform Plan
On February 26 House Ways and Means Chair Dave Camp released a comprehensive discussion draft for tax reform that included legislative language and made several tough choices to deliver on the chair's promise to lower corporate and individual rates to 25 percent and stay revenue neutral. It was th... [Read More]
March 17, 2014 - 12:25 PM EDT
Would a Republican Senate Improve the Chances for Tax Reform?
It's the season for tax reform. Besides House Ways and Means Chair Dave Camp, both Senate Finance Committee member Rob Portman of Ohio and President Obama have unveiled their own plans to overhaul the tax code. Portman's is very light on details, and Obama's is still another budget proposal that... [Read More]
March 10, 2014 - 2:47 PM EDT
Camp Hits Popular Deductions Hard
The largest tax expenditure in the code is the exclusion for employer-provided healthcare insurance. It cost the government $130 billion in lost revenue in 2013. It's also the only major individual tax expenditure that isn't on the chopping block under House Ways and Means Committee Chair Dave Ca... [Read More]
March 3, 2014 - 2:30 PM EST
Comparing the Camp and Obama Bank Taxes
By now, almost everyone interested in tax policy knows about Dave Camp's tax reform discussion draft. Camp's plan is the most detailed tax reform proposal in some time (arguably since 1986, depending on how seriously you take the efforts of President George W. Bush's blue ribbon commission). The... [Read More]
February 24, 2014 - 4:41 PM EST
How to Pay for Camp’s Tax Reform Plan
This is the week tax reform observers have been waiting for. House Ways and Means Chair Dave Camp, after years of preparing small drafts and laying the groundwork, will release a comprehensive discussion draft on reform. Camp's plan might be out as soon as February 26. In an e-mail to his committe... [Read More]
February 10, 2014 - 2:45 PM EST
Check the Box for Tax Avoidance
Before 1996, entity classification was extremely complicated and made up a large part of corporate and partnership practice. Corporate and income tax professors in law school lectured us about how lucky we were that we no longer had to worry about the Kintner tests or the six characteristics of a c... [Read More]
February 3, 2014 - 4:15 PM EST
Making Tax Reform a Partisan Issue
Everyone wants tax reform. Both the right and the left have complaints about the tax code, some the same and some different. The tax system is unfair, complicated, burdensome, and out of step with the rest of the world, according to the common refrain. The problem is that tax reform means different... [Read More]
January 28, 2014 - 9:01 AM EST
BEPS Project Should Include Digital Economy Permanent Establishment
The OECD's base erosion and profit-shifting project dominated news in the international tax world last year. The OECD's surprising and sudden shift to start protecting the tax base, instead of focusing only on preventing double taxation, took some multinationals by surprise and led to a lot of ha... [Read More]
January 13, 2014 - 3:26 PM EST
Financial Product Reform Might Not Be Imminent
Comprehensive tax reform might be far in the future, but that doesn't mean that no changes to the tax system will be made over the next few years. The medical device excise tax is unpopular and might be repealed soon. Extenders are bound to be dealt with eventually, and it's likely a few won't b... [Read More]
January 6, 2014 - 3:00 PM EST
A To-Do List for Wyden
While it isn't quite official yet, the Senate will almost certainly have a new Finance Committee chair early in 2014. Current Chair Max Baucus has been nominated by President Obama to become ambassador to China. While it might have seemed that Baucus was doing a lot in 2013, the reality is that he... [Read More]
December 16, 2013 - 12:33 PM EST
IRS Moves Closer to Having a Commissioner
After a scandal-filled year in which the IRS's credibility dropped to levels unseen since 1998, the federal tax collector needs an image overhaul. The United States relies on voluntary tax compliance, and that suffers if taxpayers no longer trust that the agency charged with administering the nati... [Read More]
December 9, 2013 - 3:21 PM EST
Will FATCA Ever Go Into Effect?
The Foreign Account Tax Compliance Act seems to be revolutionizing the way governments share tax information. Other nations are using intergovernmental agreements to piggyback on FATCA information-gathering efforts. Virtually every practitioner and financial industry representative will readily adm... [Read More]
December 2, 2013 - 12:39 PM EST
NFL Encourages Localities in Race to the Bottom
The NFL's tax-exempt status has come under attack recently because of a book by Gregg Easterbrook targeting what he calls the league's “fleecing” of taxpayers. But the controversy over whether the league office should be tax exempt is largely academic -- there isn't much there to tax (unlike i... [Read More]
November 25, 2013 - 2:25 PM EST
The NFL Is Tax-Exempt? Yes, But . . . .
The NFL and Thanksgiving are an annual tradition. Every year the professional football league stages several matchups on the holiday, dominating televisions in living rooms across the country for pretty much the entire day. Lately, however, a new tradition seems to be evolving: criticism of the NFL... [Read More]
November 18, 2013 - 1:06 PM EST
Is the House ACA Vote a Sign of Bipartisanship?
Anyone hoping that tax reform isn't quite dead should be looking at Washington for any sign of bipartisanship. Glimmers of hope can appear almost anywhere, and sometimes you have to look hard to find them. Bipartisanship can arise for a number of reasons: growing trust between the parties, a conse... [Read More]
November 4, 2013 - 2:03 PM EST
What the Daugerdas Verdict Means for Tax Shelter Promotion
Engaging in tax shelters has become risky business. The government is now quite adept at shutting down formerly popular transactions like LILOs, SILOs, son-of-BOSS, and a host of others. Taxpayers frequently find themselves paying back taxes and interest, along with steep penalties. But the governm... [Read More]
October 28, 2013 - 2:57 PM EDT
Revenue Divide Will Likely Derail Conference Committee
The government shutdown might be over, but it's up to 29 members of Congress to make sure it doesn't happen again anytime soon. The handpicked members of the much-anticipated conference committee will meet for the first time this week, and they face a pretty tall order. They must deliver a report... [Read More]
October 7, 2013 - 2:26 PM EDT
It Isn’t Time to Bury the Income Tax Just Yet
On October 3 the income tax marked its 100-year anniversary. If you're confused by the commemorative articles that appeared earlier in the year, it's because 2013 also marks 100 years of the 16th Amendment, which allowed Congress to impose an income tax as part of tariff reform in 1913. There is... [Read More]
September 30, 2013 - 12:21 PM EDT
Shutdown Will Stop IRS Audits, but Not ACA Implementation
The House and Senate are on pace for a government shutdown. After the Senate rejected language in the House-passed bill that would have defunded Obamacare, the lower chamber met over the weekend. The result was a continuing resolution that would scrap the medical device excise tax and delay Obamaca... [Read More]
September 23, 2013 - 2:07 PM EDT
Sun Capital Might Be Bigger Than You Think
Practitioners, commentators, and taxpayers have spent weeks trying to figure out the importance of the First Circuit's decision in Sun Capital. When the court held that a private equity fund was in a trade or business for the purposes of ERISA, it caused many to wonder whether tax law would be aff... [Read More]
September 16, 2013 - 1:16 PM EDT
The Faltering Financial Transaction Tax and the Future of Wall Street
The financial meltdown in 2008 was supposed to change how banks and Wall Street were regulated and taxed. The idea that trading was too volatile and that banks were engaged in numerous risky transactions caught hold. There was a growing belief that financial institutions and investment firms should... [Read More]
September 9, 2013 - 1:21 PM EDT
Who Are the 43 Percent?
Mitt Romney's presidential campaign never really recovered from his remarks about the 47 percent. At a private fundraiser, the Massachusetts Republican seemed to marginalize the supposed 47 percent of Americans who pay no income taxes, referring to them as those “who believe that the government h... [Read More]
August 26, 2013 - 1:00 PM EDT
Cruz’s Push to Defund Obamacare Could Derail Tax Reform
Republican Sen. Ted Cruz of Texas is pushing to defund Obamacare. That isn't terribly surprising. Cruz is part of a group of conservative lawmakers that has tried to force the Republican Party into deeper opposition to President Obama's policies. He doesn't seem to believe in compromise, and he... [Read More]
August 19, 2013 - 12:45 PM EDT
Camp’s Senate Decision Helps, but Won’t Save, Tax Reform
After spending the last three years declaring that his sole focus was on tax reform, House Ways and Means Chair Dave Camp wavered in the last few weeks. On July 31 he announced he was considering running for the Senate seat being vacated by Democrat Carl Levin. Running as a Republican in Michigan w... [Read More]
August 12, 2013 - 12:15 PM EDT
First Circuit Deals Equity Funds a Blow in Sun Capital
The furor over the First Circuit's decision in Sun Capital Partners v. New England Teamsters hasn't abated. The court's holding that a private equity fund was engaged in an active trade or business and therefore was liable for pension liabilities under ERISA could have a profound impact on treat... [Read More]
August 5, 2013 - 12:20 PM EDT
Is the Exclusion for Employer-Provided Healthcare Outdated?
The largest tax expenditure is not the mortgage interest deduction, accelerated depreciation, or even the capital gains preference. It is the exclusion of employer-provided health insurance from income. Treasury estimates that the exclusion costs the federal government $163 billion a year, almost a... [Read More]
July 29, 2013 - 12:21 PM EDT
The Power to Delay
“The power to tax involves the power to destroy.” Chief Justice John Marshall's famous phrase from McCulloch v. Maryland made it clear that if state governments had the power to tax the federal government, they could effectively impede or burden the implementation of federal legislation or the... [Read More]
July 22, 2013 - 4:21 PM EDT
Shedding Light on Advance Pricing Agreements
U.S. multinationals, or at least some of them, aren't paying that much tax. Their marginal tax rates are falling, and lawmakers and the public are starting to notice. In May, Apple's CEO was dragged before the Senate Homeland Security and Governmental Affairs Permanent Subcommittee for Investigat... [Read More]
July 15, 2013 - 2:39 PM EDT
Noem, Schweitzer Decisions Give Shape to Key Senate Races
Democrats have been dealt a double blow over the last month. South Dakota Republican Rep. Kristi Noem announced June 11 that she would not challenge former Gov. Mike Rounds for the Republican nomination in the race to succeed retiring Democratic Sen. Tim Johnson. And over the weekend, popular forme... [Read More]
July 8, 2013 - 2:16 PM EDT
Summers Pushes for Tax Break on Foreign Profits
Lawrence Summers has had a long career in government. He was Treasury secretary under President Clinton and an economic adviser to President Obama until 2010. Summers has a spotty record (just look at how his recommendations on derivatives and other financial products have worked out), but he remai... [Read More]
July 1, 2013 - 12:20 PM EDT
Obama’s Climate Change Proposals Lack Major Tax Component
On June 25, 2009, President Obama made a major push for Congress to adopt climate change legislation that included a cap-and-trade proposal. In a speech in the Rose Garden, the president defended his plan and reiterated his campaign pledge to cut U.S. emissions. Cap and trade was never seriously co... [Read More]
June 24, 2013 - 1:41 PM EDT
Can the OECD Be Trusted on Base Erosion?
After years of creating rules that allow multinational corporations to shift profits and income to whatever jurisdiction they like, the OECD is now very concerned about base erosion. In fact, it is drafting a major report on base erosion and profit shifting (commonly called BEPS). Pascal Saint-Aman... [Read More]
June 17, 2013 - 1:36 PM EDT
Paz’s Admissions Fuel GOP Ire, but Don’t Implicate Administration
The inappropriate scrutiny of conservative groups' applications for exempt status was the result of a rogue “conservative Republican” in Cincinnati who, for convenience, decided to focus on the names of organizations. That's the narrative that Democratic Rep. Elijah Cummings would like the medi... [Read More]
June 10, 2013 - 12:42 PM EDT
How Likely Is Carried Interest Reform?
During the height of the financial meltdown in 2009, Congress became obsessed with changing the tax treatment of carried interest. The idea that wealthy hedge fund managers could receive preferential capital gains treatment on their carried interest income shocked Democrats, and the media ran sever... [Read More]
June 3, 2013 - 12:19 PM EDT
IRS Missteps Will Hurt Tax Administration
The IRS is underfunded. The Service has seen its budget cut more than $1 billion since 2010, and those cuts are starting to take their toll, both on enforcement and filing season efficiency. The IRS Oversight Board wrote last week that “the current budgetary path is no longer sustainable.” Former... [Read More]
May 20, 2013 - 4:31 PM EDT
Rand Paul’s Claim of "Written Policy" Seems Like GOP Overreach
The beat keeps going in the IRS's exempt organizations scandal. Outgoing acting Commissioner Steven Miller did little to satisfy Republican critics in his testimony before the House Ways and Means Committee on Friday (in fact, he probably made the scandal worse). Another round of hearings will sta... [Read More]
May 13, 2013 - 12:06 PM EDT
Lerner’s Admission and Apology Ring Hollow
It wasn't a very good week for the Obama administration. Republicans have been accusing President Obama of allowing political concerns to trump policy for years, but the public simply hasn't bitten on issues like the infamous Benghazi talking points memo. But last week the GOP was handed new ammu... [Read More]
May 6, 2013 - 12:12 PM EDT
Plan to Tie Tax Reform to Debt Ceiling Will Likely Fail
House Republicans don't like the idea of raising the debt ceiling. Many would like to see steep spending cuts that would balance the government's finances and prevent the need for further debt ceiling increases. Others view the debt ceiling as conservatives' only leverage over President Obama an... [Read More]
April 29, 2013 - 12:42 PM EDT
Baucus, the Marketplace Fairness Act, and Tax Reform
By now the retirement of Max Baucus is old news. Most commentators have shifted from talking about the Montana senator's career to discussing how his seat might flip to Republicans in the next election. The mainstream press is also reporting Baucus's statements about his house in Montana, his den... [Read More]
April 22, 2013 - 1:05 PM EDT
How Important Is Deferral to Multinationals?
The U.S. tax system allows multinationals to effectively indefinitely defer taxes on profits earned by active foreign affiliates until that money is repatriated to the United States. Deferral as a cornerstone of tax policy dates from a compromise during the Kennedy administration and has long been... [Read More]
April 15, 2013 - 12:34 PM EDT
U.S. Taxpayers Buy a Lot of Weapons
Happy tax day! It's April 15, and undoubtedly many Americans are rushing to the post office to mail their returns to the IRS. The rise of e-filing and the increasing use of return preparers and TurboTax has significantly reduced last-minute traffic, but the United States always has its share of pr... [Read More]
April 8, 2013 - 12:56 PM EDT
What Should Be in the Obama Budget
President Obama will finally release a budget this week. Obama consistently ignores the statutory timeline for releasing his budget, and this year is the latest he has ever put forward a fiscal proposal. On all things administrative, the president is frequently dilatory. But those waiting with bate... [Read More]
April 1, 2013 - 12:28 PM EDT
Tim Johnson, Kristi Noem, and the Importance of Moderates to Tax Reform
Another Senate Democrat is retiring. South Dakota Sen. Tim Johnson will not seek a fourth term in 2014, leaving an open seat that Republicans will be heavily favored to pick up. Johnson's retirement brings the total number of Democrats leaving the Senate to five. The possibility that Johnson will... [Read More]
March 25, 2013 - 12:14 PM EDT
Senate Democrats Abandon the Estate Tax
The most progressive tax in the United States is also one of the most unpopular. Thanks to Republican-led efforts to characterize it as a death tax, the estate tax is almost universally reviled in Congress and by voters. To emphasize the point, last week the Democrat-controlled Senate voted 80 to 1... [Read More]
March 19, 2013 - 2:36 PM EDT
Paul Ryan Borrows a Page From Obama’s Playbook
Paul Ryan may have been on the ticket opposing President Obama in the last election, but that hasn't stopped the House Budget Committee chair from copying the president in at least one important respect. Much like Obama, Ryan keeps releasing the same budget every year, knowing full well that it ha... [Read More]
March 11, 2013 - 2:33 PM EDT
Carl Levin Changed the Face of Tax Enforcement
Not long ago, I pointed out that Sen. Carl Levin was determined to continue his quest to end offshore tax abuse by U.S. individuals and corporations. The Michigan senator had reintroduced the Cut Unjustified Tax Loopholes Act, a follow-up to his stalled Stop Tax Haven Abuse Act. Unless something ha... [Read More]
March 4, 2013 - 1:03 PM EST
Is the U.S. Tax Gap as Big as Italy’s?
The United States has a tax gap problem. The IRS has estimated that the tax gap may be as much as $450 billion a year. That's approximately 18 percent of total federal revenues. As Senate Finance Committee Chair Max Baucus pointed out during the healthcare debate, closing the tax gap could have pa... [Read More]
February 25, 2013 - 12:57 PM EST
Taxing the Rich, Thenardier-Style
“Charge 'em for the lice, extra for the mice. Two percent for looking in the mirror twice. Here a little slice, there a little cut Three percent for sleeping with the window shut. When it comes to fixing prices There are a lot of tricks I knows. How it all increases, all them bits and pieces. Jesu... [Read More]
February 19, 2013 - 1:13 PM EST
Simpson-Bowles Try Again
Alan Simpson and Erskine Bowles have become synonymous with deficit reduction. Their names are thrown about by lawmakers and the White House whenever one side or the other wants to act serious about a grand bargain on taxes and spending. But the details of the Simpson-Bowles plan, originally releas... [Read More]
February 11, 2013 - 12:00 PM EST
Will Obama’s Call for Tax Reform Ring Hollow?
President Obama is going to call for tax reform in his State of the Union address this week. According to sources, the president will use tax reform as a way to lower the deficit, promote job creation, and address the growing income disparity. The latter will be couched in terms of how to increase... [Read More]
February 4, 2013 - 2:48 PM EST
Carl Levin Continues to Play the Role of Don Quixote
If Sen. Carl Levin ever feels like Sisyphus, constantly pushing a boulder up a hill only to have it roll back to the bottom, he certainly doesn't let anyone know it. For years, Levin has been on a quest to close international taxation loopholes. And for just as long, he has largely failed to persu... [Read More]
January 28, 2013 - 4:17 PM EST
Huffington Post Draws Tenuous Link Between Camp Plan, Fix the Debt Group
The derivatives market in the United States is estimated to be $600 trillion, which is 10 times the size of the global economy. Excessive trading in derivatives probably contributed heavily to the meltdown in the financial sector that threw the United States -- and the world -- into recession in 20... [Read More]
January 22, 2013 - 1:33 PM EST
Phil Mickelson Overreacts to Uptick in Taxes
President Obama and Democrats may think that taxes should go up more on upper-income earners, but count Phil Mickelson among those who disagree. The golfer recently told reporters that he planned to make “drastic changes” because of California's new tax laws. He hinted that retirement might be a... [Read More]
January 14, 2013 - 1:39 PM EST
TPC Study Shows Fiscal Cliff Deal Cut Taxes for Most
The fiscal cliff might be behind the United States, but the effects of the deal to avoid it will be felt for a long time. Unlike many other hasty tax compromises drafted on Capitol Hill, the provisions of the American Taxpayer Relief Act (ATRA) are mostly permanent. The income tax rates, the estate... [Read More]
January 7, 2013 - 5:50 PM EST
Both Parties Should Have Pushed Payroll Tax Cut
The fiscal cliff may have been averted, but anyone who just received their first paycheck of the new year probably noticed that it was a bit smaller. That may have come as a shock to many middle-income taxpayers. Didn’t President Obama just spend a whole week touting the fact that he had saved 98... [Read More]
December 17, 2012 - 1:58 PM EST
Democrats Should View Japan as a Warning
Raising taxes in the middle of a weak economy is usually political suicide. Herbert Hoover did it in 1932 and condemned the Republican Party to decades of rebuilding. Bill Clinton did it in 1993 and watched as the GOP took control of Congress in 1994 for the first time in decades. And now President... [Read More]
December 10, 2012 - 2:06 PM EST
Business Tax Incentives Create Race to the Bottom
Tax competition is a positive force in the global economy, according to Daniel Mitchell of the Cato Institute. He believes that governments competing against each other to attract business makes tax codes more efficient and helps economic growth. It certainly helps businesses, but it isn’t clear j... [Read More]
December 3, 2012 - 2:44 PM EST
Why the Tea Party Is Bad for Conservative Tax Policy
The GOP has a Senate problem. Everyone knows it because it has been front and center in the last two election cycles. Despite a favorable political climate in 2010 and a map tilted their way in 2012, Republicans have failed to make much headway toward retaking the Senate (the party is only up five... [Read More]
November 26, 2012 - 2:20 PM EST
Why the Finance Committee Needs Angus King
It took John Kerry 14 years to get a seat on the Senate Finance Committee. That’s supposedly what Senate Majority Leader Harry Reid told Angus King when the Senate’s newest independent requested a seat on the prestigious taxwriting committee. King was hoping to replace Olympia Snowe, the retiring... [Read More]