Topic: About TaxVox

What Should We Do with the Money from Taxing “Bads”?

By :: January 29th, 2016

What do indoor tanning, shopping bags, junk food, alcoholic beverages, tobacco, “gas guzzling” cars, ozone-depleting chemicals, sugary drinks, marijuana, gasoline, coal, carbon-containing fuels, and financial transactions have in common? Taxes that discourage them. The United States taxes indoor tanning to reduce skin cancer, for example, while Washington DC taxes shopping bags to cut litter, and […]

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Ted Cruz’s Business Flat Tax is a VAT

By :: January 15th, 2016

At last night’s GOP debate, Senator Marco Rubio accused Ted Cruz of sneaking a value-added tax (VAT) into his tax reform plan. RUBIO: Here is the one thing I’m not going to do. I’m not going to have something that Ted described in his tax plan. It’s called the value-added tax. And it’s a tax […]

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Corporate Tax Inversions are Only Part of the Problem

By :: December 10th, 2015

The planned merger of Pfizer and Allergen to create an Irish parent company, a transaction often called an inversion, has rekindled concerns about U.S. multinationals that combine with foreign corporations and move their residence overseas to reduce their income taxes. Political leaders in both parties want to stop inversions, but their solutions differ radically, reducing […]

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Reforming the Child Tax Credit for Low-Income Workers

By :: December 9th, 2015

Congress could significantly help low-income families with children by making current eligibility rules for the Child Tax Credit (CTC) permanent. If lawmakers allow the current threshold to expire as scheduled after 2017, families with children in the lowest income quintile will lose almost $700. Over the past few years, members of Congress from both sides […]

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Two Important New Retirement Savings Initiatives from the Obama Administration

By :: November 19th, 2015

In recent weeks, the Obama Administration has taken the two most important steps in nearly a decade to increase access to retirement savings for more than 55 million Americans who currently do not participate in a retirement saving plan. The Treasury Department’s myRA program, launched this month, will help new savers and the self-employed start […]

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“Maybe not today. Maybe not tomorrow, but soon…”

By :: November 19th, 2015

“A kiss is just a kiss…” Senator Elizabeth Warren has no love for a possible agreement on international tax reform. President Obama, for example, supports a 28 percent corporate tax rate, a 19 percent minimum tax on foreign income, and a one-time 14 percent tax on the more than $2 trillion in profits held offshore.  […]

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Treasury Plan to Aid Puerto Rico Aims High but Falls Short

By :: October 27th, 2015

Last week, the Obama Administration unveiled a far-reaching roadmap for Congress to aid the beleaguered island territory of Puerto Rico. The plan incorporated some of the best ideas floated by think tanks, independent agencies, and government task forces since the island started losing people and jobs a decade ago with the final phase-out of tax […]

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How A Carbon Tax Could Have Prevented The Volkswagen Diesel Scandal

By :: October 13th, 2015

If anyone needed another example of why a carbon tax is a good idea, look no further than Volkswagen’s diesel scandal. The automaker’s efforts to game the current system are a case study in what’s wrong with government attempts to reduce pollution with regulation and tax subsidies, rather than through a relatively straight-forward tax on […]

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Time Keeps Ticking, States Keep Cutting

By :: September 21st, 2015

On the Hill: A Freeze, a Pontiff, and a Looming Deadline. The House voted to freeze funding for Planned Parenthood, hoping it could help avert a shutdown by appeasing 31 seemingly-unappeasable Republicans who want to defund the organization completely. Meanwhile, the Iran deal remains a sore point. Congress has until September 30—or five business days […]

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Hillary Clinton’s Off-the-Mark Proposal to Encourage More Patient Investors

By :: July 28th, 2015

Democratic presidential hopeful Hillary Clinton has proposed to radically rejigger top capital gains tax rates to encourage investors to take a longer-term perspective. But I think she’s misdiagnosed the problem and, even if she’s right, the proposal won’t work as she expects. Her idea: Give investors a tax incentive to support productive long run investments […]

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