Tag: ‘Australia’

On Tiny Steps, King Edward, and Hidden Assets

By :: March 4th, 2015

Tax reform: Go big or go home, or at least, not very far. TPC’s Len Burman says that senators Marco Rubio’s and Mike Lee’s proposal to eliminate the tax on capital gains would do more harm than good. The senators argue that it’s a step toward a consumption tax. But Len thinks some small steps […]

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Maybe Tax Increases Will Be Easier with a Little Southern Charm

By :: March 2nd, 2015

Alabama’s GOP Governor wants higher taxes on car and cigarette sales. Robert Bentley released details on how he’d close the state’s $700 million budget shortfall. And $587 million would come from new revenues. He’d raise an estimated $200 million by doubling the state sales tax on automobiles from 2 percent to 4 percent and collect […]

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A Look at the Territorial Tax Systems in Four Countries Finds No Magic Bullets

By :: January 22nd, 2015

It is an article of faith among many tax reformers that the U.S. should shift from a worldwide tax system to a territorial regime in which U.S.-based multinational corporations pay U.S. tax only on their domestic income.  Such a step would reduce or eliminate tax on the dividends these firms receive from their foreign affiliates. […]

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All's Fair in Love and Taxes... Or Not.

By :: January 8th, 2015

Et tu, Utah? GOP leaders want to increase the state’s gasoline tax. The state faces an $11 billion budget gap for transportation projects slated through 2040. Its House GOP caucus has endorsed an increase of as much as 10 cents a gallon in the state’s gasoline tax. They’re even willing to tie the tax to […]

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Last Minute, or Second- or Third-to-Last Minute, Deals Before the Holidays

By :: December 10th, 2014

Congress blows yet another budget deadline. After missing its chance to approve a spending bill to keep the government running after Thursday, Congress is now planning to vote this week on a very short-term continuing resolution—one good for just a few days. The measure  is designed to keep the government open and buy some time […]

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Liability, Math, and Budget Crunches

By :: November 13th, 2014

Can a state tax all of the income of its residents, wherever it is earned? The US Supreme Court heard oral arguments yesterday in Comptroller v. Wynne. A decision will answer whether residents of one state are liable for taxes on income earned in another state, even if that income has already been taxed. If […]

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Mid-Term Monday: The Calm Before The Storm?

By :: November 3rd, 2014

Congress returns next week. We’ll resume our regular schedule on Wednesday, November 5, after tomorrow’s elections. State ballot initiatives offer clues on how much voters are willing to pay for government services. There are 16 tax-related initiatives on state ballots tomorrow. TPC’s Kim Rueben highlights the key states to watch: Massachusetts voters could repeal an […]

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Tax Policy, Tax Outcomes: That’s Entertainment!

By :: September 22nd, 2014

Congress is in recess through the mid-term elections. Read the Daily Deduction each Monday until then.  “California, here I come!” It’s official: Democratic Governor Jerry Brown signed into law a $330 million annual incentive program for film and television production. Feature films with budgets of $75 million or more and network pilots are also eligible […]

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Business Tax Reform: Will Patience Be a Vice?

By :: September 8th, 2014

Treasury speaks on business tax reform at TPC. Tune in this morning. Treasury Secretary Jack Lew will address business tax reform and will be followed by a panel discussion on corporate inversions, a US tax avoidance strategy. The panel includes Sally Katzen of the NYU School of Law, TPC’s Steven Rosenthal, John Samuels of General […]

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A Ditch, an Add, and Maybe an End Run

By :: July 18th, 2014

Australia repeals its two-year-old carbon tax. It’s been a contentious issue for seven years. Australia is one of the biggest producers of carbon emissions per capita. Its government is committed to reducing emissions to 5 percent below year 2000 levels  by 2020. A carbon tax might have been the most expedient method to accomplish that […]

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