Posts Tagged ‘ taxes ’

Why taxes and snooker rules are not that different

February 1, 2016
posted by

Adam Smith Institute Adam Smith Institute
by James Knight  

"Pretty much anyone with even the sketchiest understanding of economics knows that a competitive market is the mother of all driving forces for efficiency. In fact, Kenneth Arrow and Gerard Debreu have a mathematical proof called the Arrow–Debreu model which shows that if the conditions are propitious in terms of a competitive free market there will be a general equilibrium between total supplies and total demands reflected in a set of prices. Obviously there are all sorts of reasons why the reality isn't the case, and that's largely due to all the ways in which politicians interfere with the natural mechanisms of prices (taxes and price controls are two prime examples)." (02/01/16)

http://www.adamsmith.org/blog/tax-spending/why-taxes-and-snooker-rules-are-not-that-different/  

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Reject the Trump tax

January 27, 2016
posted by

Gary Chartier Center for a Stateless Society
by Gary Chartier  

"Donald Trump says he wants to impose a 45% tax on goods imported from China. Trump's proposed tax would interfere with people's freedom. It would be discriminatory. It would injure American consumers. And it would hurt the poor here and in China. It's no surprise to find the developer, reality TV star, and GOP presidential candidate urging measures that would benefit well connected businesses at the expense of ordinary people. Trump's own history of collusion with the government -- notoriously, he's used eminent domain to steal property from private owners when he wants it for his projects -- highlights his willingness to use state power to give corporations what they want. The costs don't seem to bother him. But they should bother us." (01/25/16)

https://c4ss.org/content/43018  

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Can we use tax data to measure living standards? Part 2

January 19, 2016
posted by

Notes On Liberty
by Vincent Geloso  

"Yesterday, my post on the differences in per capita income and total income per tax unit caused some friends to be puzzled by my results. To their credit, the point can be defended that tax units are not the same as households and the number of tax units may have increased faster than population (example: a father in 1920 filled one tax unit even though his household had six members, but with more single households in the 1960s onwards the number of tax units could rise faster than population for a time). The problems regarding the use of tax units instead of households is not new." (01/19/16)

http://notesonliberty.com/2016/01/19/can-we-use-tax-data-to-measure-living-standards-part-2/  

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Can we use tax units to measure living standards?

January 19, 2016
posted by

Notes On Liberty
by Vincent Geloso  

"In the debate on inequality, I am a skeptic of how large a problem the issue is. Personally, I tend to believe that worries of inequality only increase when growth is stagnant. In fact, I also believe that there are numerous statistical biases causing us to misidentify stagnation as rising inequality. Most of the debate on inequality is plagued with statistical problems of daunting magnitudes (regional convergence in income, regional price levels, demographic changes, increasing heterogeneity of preferences, increasing heterogeneity of personal characteristics, income not being purely monetary, the role of taxes and transfers etc.) One of them centers around the use of tax data." (01/18/16)

http://notesonliberty.com/2016/01/18/can-we-use-tax-units-to-measure-living-standards/  

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The forgotten tax increase

January 5, 2016
posted by

Laurence M. Vance LewRockwell.com
by Laurence M Vance  

"The only good thing we can say about taxes going into 2016 is that at least they are not going up this year. Such was not the case in 2013, 1991, 1993 -- and especially 1994. In fact, the 'Bush tax cuts' notwithstanding, the forgotten tax increase of 1994 is still with us." (01/05/16)

https://www.lewrockwell.com/2016/01/laurence-m-vance/forgotten-tax-increases/  

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Adam Smith on public policy: Four maxims of taxation

January 5, 2016
posted by

Libertarianism.org Libertarianism.org
by Paul Mueller  

"Smith argued that taxes should be proportional to how much a person benefits from living in society. There should be proportionality across levels of income and sources of income such as rent, profit, and wages. At one point Smith does mention how having some taxes fall disproportionately on the wealthy, such as taxes on luxuries, is not so bad. But he stresses proportionality as the general principle ..." (01/04/16)

http://www.libertarianism.org/columns/adam-smith-public-policy-four-maxims-taxation  

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Taxed enough already: Governments shouldn’t be allowed to bleed our Internet service

December 17, 2015
posted by

Seton Motley Heartland Institute
by Seton Motley  

"[W]hen they aren't seeking to tax us for going online, they are endlessly fretting that more people aren't going online -- because of the price. 'Democrats' Bill Would Subsidize Internet Service.' Get that? They want to tax Internet service -- which raises the price of Internet service. And then tax us to spend money to subsidize Internet service -- because they just increased the price with their taxes. Behold the circular firing squad. Except -- the government already taxes the daylight out of us to subsidize Internet service. Behold the Lifeline program. The same absurd slush fund that uber-wastefully provides ObamaPhones -- also provides Internet access." (12/16/15)

http://blog.heartland.org/2015/12/taxed-enough-already-governments-shouldnt-be-allowed-to-bleed-our-internet-service/  

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Hillary Clinton’s dubious tax pledge

November 30, 2015
posted by

Reason Reason
by Ira Stoll  

"'I'm the only Democratic candidate in this race who will pledge to raise your incomes, not your taxes,' the former secretary of state and United States senator from New York said Sunday at an event in Boston. Clinton has already been calling, on the campaign trail, for tax simplification and less regulation of business formation and licensing. The addition of what she is now describing, formally, as a 'pledge' against tax increases signals that, even before a single vote has been cast in an Iowa caucus or New Hampshire primary, the former first lady is thinking ahead to the general election and the need to win over moderate and centrist voters. For Clinton, such an effort will have its challenges." (11/30/15)

https://reason.com/archives/2015/11/30/hillary-clintons-dubious-tax-pledge  

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UK: Idiot pols call for “sugar tax”

November 30, 2015
posted by

International Business Times    

"British lawmakers reportedly ramped up pressure on the government Monday to levy a 20 percent tax on sugary drinks following the publication of a hard-hitting report that links childhood obesity to the easy availability of unhealthy foods. The government has reportedly refused to approve such a tax in the past. U.K.'s parliamentary health committee noted that measures to “improve food environment” must be used to tackle childhood obesity and called for strong controls on price promotions of unhealthy food and drinks like sugary sodas." (11/30/15)

http://www.ibtimes.com/british-lawmakers-urge-sugar-tax-tackle-childhood-obesity-2203837  

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The economic burden of corporate taxation

November 24, 2015
posted by

National Center for Policy Analysis National Center for Policy Analysis
by David G Tuerck and James P Angelini  

"As other countries lower their corporate tax rates, U.S. corporations are reincorporating in lower tax countries (engaging in 'tax inversions') to reduce their tax burdens. Permanently eliminating or lowering the U.S. corporate tax rate would reverse this tax calculus and establish the United States as a tax haven. The result would be a huge infusion of capital into the United States, made all the greater by other U.S. advantages, such as access to capital, rule of law and infrastructure." (11/24/15)

http://www.ncpa.org/pub/the-economic-burden-of-corporate-taxation  

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The IRS scam

November 12, 2015
posted by

The Price of Liberty
by Nathan Barton  

"I recently received an e-mail from my dear US Representative in Congress (Kristi Noem, SD-00 (South Dakota only has ONE) warning me of a wave of scam calls and e-mails from people pretending to be the IRS in an attempt to steal money from us by getting our bank account or credit card information. The calls tell us that the IRS is getting ready to sue us, unless we immediately settle the problem. ... Now, these sorts of e-mails from dear Kristi may help people avoid getting caught by this scam. But they do NOT help people out of the REAL massive scam, that of government and the IRS itself." (11/11/15)

http://www.thepriceofliberty.org/?p=8111  

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FL: Scott launches tour touting $1 billion tax cut plan

November 9, 2015
posted by

Palm Beach Post    

"Gov. Rick Scott today kicks off a week-long tour today to promote the $1 billion-over-two-years tax break package that he unveiled last week in West Palm Beach. ... 'We've got to figure out how to diversify our economy. We can't just be a service economy,' the Republican governor told a crowd of about 150 at a manufacturers' conference last week at the West Palm Beach Marriott. 'We're going to cut our taxes this year by over $1 billion. This will be the year of the manufacturer and this will be the year of the small business.'" (11/09/15)

http://postonpolitics.blog.palmbeachpost.com/2015/11/09/scott-launches-tour-today-touting-1-billion-tax-cut-plan/  

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The Austrian case against the FairTax

November 8, 2015
posted by

Voices of Liberty
by Brandon Groth  

"The first thing to be noted is that such a system would be vastly better than the current federal tax system. No longer would income be withheld and workers would be free from the chains of income taxes. Bureaucracy would be minimized -- the IRS would be eliminated. Liberty would be all the better off. Then why is there a case against the FairTax? To be sure, this is not a case against the implementation of the FairTax, but rather a case against the notion that the United States should have a permanent sales tax. In short, the FairTax should be regarded as a way-point on the road to ending uniform federal taxes entirely, itself to be eliminated at such time as the American people decide that government must fit back into the confines of the Constitution." [editor's note: Wow ... a supposed Austrian apparently buys the "prebate" guff and just glosses over the fact that the FairTax promises every man, woman and child in the US a monthly federal welfare check for life. Big analysis fail - TLK] (11/06/15)

http://www.voicesofliberty.com/article/the-austrian-case-against-the-fairtax/  

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Republican tax plans are misguided

November 2, 2015
posted by

Notes On Liberty
by Warren Gibson  

"Predictably, Republican candidates are showcasing tax plans offering goodies for everybody. When some spoilsport has the nerve to point out the worsening deficit that would result, the most common retort is that the tax cut will spur economic growth enough to overcome the higher deficit. Some day. Somehow." (10/30/15)

http://notesonliberty.com/2015/10/30/republican-tax-plans-are-misguided/  

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The Earned Income Tax Credit: Small benefits, large costs

October 30, 2015
posted by

Veronique de Rugy Reason
by Veronique de Rugy  

"The EITC is best described as an anti-poverty program that encourages people to work. In a new study published by the Cato Institute, Chris Edwards and I explain that based on a deep dive into the economic literature and the budgetary impact of the program, conservatives and liberals alike underestimate its cost while overselling its benefits. That is why we advise cutting the program." (10/29/15)

https://reason.com/archives/2015/10/29/the-earned-income-tax-credit-small-benef  

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UK: Record numbers vote in House of Lords to defeat government

October 27, 2015
posted by

Telegraph [UK]    

"The tax credit reforms vote, which saw the House of Lords defeat the Government in an 'unprecented' move, saw the highest number of peers vote in this parliamentary calendar. The Government has threatened the House of Lords with constitutional reform, after the unelected house defeated its plans to reform tax credits. The House of Lords forced a delay to George Osborne's tax credit cuts -- which would impact three million families -- in a vote in which 584 peers voted. 307 peers voted for the delay, while 277 peers voted against. In two other tax credit-focused motions on the same day, 409 and 561 peers voted." (10/27/15)

http://www.telegraph.co.uk/news/politics/11957298/Tax-credits-vote-House-of-Lords-saw-record-numbers-vote-to-defeat-Government.html  

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Raising taxes and truth

October 8, 2015
posted by

Paul Jacob Common Sense
by Paul Jacob  

"Sheila Weinberg wants to raise your taxes. So fervent is her money-lust that she even threatens to run for president, and only half-jokingly, on that single issue. More surprising: I would enthusiastically vote for her. What gives? Well, Weinberg isn't demanding a tax increase or a spending cut, per se -- just one and/or the other until accounts are balanced." (10/08/15)

http://thisiscommonsense.com/2015/10/08/raising-taxes-truth/  

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Simulating corporate income tax reform proposals with a DCGE model

September 30, 2015
posted by

National Center for Policy Analysis National Center for Policy Analysis
by K Bhattarai , J Haughton , M Head and DG Tuerck  

"U.S. corporate tax reform has emerged as a dominant issue in the political season now upon American voters. Tax reform proposals have been put forward by President Barack Obama and several candidates for president. The political campaign for president offers an opportunity to revisit the rich academic literature, which seeks to explain the burden corporate taxes places on investment. This paper aims to provide information useful to both the political debate and to the academic literature." [summary -- full paper available as PDF download] (09/29/15)

http://bit.ly/1MG60pk  

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Our bizarre system of taxing capital

September 27, 2015
posted by

Scott Sumner EconLog
by Scott Sumner  

"If it were appropriate to pay taxes on capital gains, why wouldn't it be appropriate to pay negative taxes on capital losses? Economic theories tend to be symmetrical. And yet capital losses do not result in negative taxes, except in certain limited cases. And why only those cases?" (09/26/15)

http://econlog.econlib.org/archives/2015/09/our_bizarre_sys.html  

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Federalist #12: To tax or not to tax

September 27, 2015
posted by

10th Amendment Center Tenth Amendment Center
by Mike Maharrey  

"In Federalist #11, Alexander Hamilton argues that a unified America under the Constitution will allow the country to grow into an economic power. In Federalist #12, he builds on his case to address one of the primary issues facing the United States under the Articles of Confederation -- the difficulty in raising revenue for the general government. Congress could not tax under the Articles of Confederation. It relied on the states to pay into the treasury based on requisitions. But it lacked any enforcement authority. States tended to contribute to these requisitions slowly, and sometimes not at all." (09/25/15)

http://tinyurl.com/ob49hlj  

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Lee-Rubio tax plan

September 24, 2015
posted by

National Center for Policy Analysis National Center for Policy Analysis
by Tyler Prochazka and Pamela Villarreal  

"Since the roll-out of the Lee-Rubio tax proposal in March 2015, the Center on Budget and Policy Priorities and the Tax Foundation have disagreed whether the plan would benefit people at lower income levels. The short answer is: It depends." (09/24/15)

http://www.ncpa.org/sub/dpd/index.php?Article_ID=26094  

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Congress may give IRS authority to regulate tax preparers

September 14, 2015
posted by

Forbes    

"On Wednesday, the Senate Finance Committee, led by Committee Chair Orrin Hatch (R-UT) and Ranking Committee Member Ron Wyden (D-OR), will mark up an original bipartisan bill that will, among other things 'help root out the bad actors who pose as law-abiding return preparers' as a step towards protecting taxpayers from identity theft and fraud. The proposal, as written, would provide the Department of the Treasury and the IRS the authority to regulate 'all aspects of Federal tax practice, including paid tax return preparers.'" (09/14/15)

http://tinyurl.com/q6hxts7  

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AL: Spendthrift evildoers want porn consumers to pick up check for pols’ fiscal irresponsibility

September 10, 2015
posted by

WKRG News 5    

"Pornographic material and adult entertainment might be getting a lot more expensive in the state of Alabama. The Alabama House Ways and Means Committee passed the proposed 'porn tax' in a 10-4 vote on Wednesday as lawmakers rush to fill a massive budget shortfall. In addition to any other applicable taxes, a 40% state excise tax will be levied on gross receipts from the sale, rental or admission charges of pornographic material. The tax will apply to any and all forms of pornographic or sexually explicit content purchased in the state of Alabama, including, but not limited to, pornographic magazines, adult videos, and online adult rentals." (09/09/15)

http://tinyurl.com/pmsxsrf  

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Evergreen Eyman

September 8, 2015
posted by

Paul Jacob Common Sense
by Paul Jacob  

"Washington State voters have cast their ballots five times (by initiative measure) to require a two-thirds vote of both houses of the state legislature, or a vote of the people, to increase taxes. Though the rule is neither hard to understand nor difficult to implement, legislators have repeatedly overruled the people they supposedly serve, overturning the measure and then, finally, suing to overturn the repeatedly re-enacted two-thirds requirement. The Washington Supreme Court ruled that only through a constitutional amendment could citizens place upon their representatives the two-thirds mandate. And -- you guessed it -- the state's initiative process doesn't permit constitutional amendments, only statutes." (09/08/15)

http://thisiscommonsense.com/2015/09/08/evergreen-eyman/  

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IL: Emanuel set to call for largest property tax hike in modern Chicago history

September 3, 2015
posted by

Chicago Tribune    

"Mayor Rahm Emanuel is set to call for the largest property tax increase in modern Chicago history to raise enough money to make a major pension payment for police and firefighters next year, the mayor's City Council floor leader and a City Hall source told the Chicago Tribune late Wednesday. The mayor also plans to push a new garbage collection tax, a new per-ride fee on taxis and ride-hailing services such as Uber and a new tax on electronic cigarettes and smokeless tobacco products. ... During his first term, Emanuel avoided major tax hikes in favor of a series of smaller tax, fee and fine increases that together resulted in the equivalent of a 60 percent increase in city property taxes for the average homeowner. Still, come re-election time this year, Emanuel was able to tell voters he hadn't raised property, sales or gas taxes during his tenure." (09/03/15)

http://tinyurl.com/py5znva  

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