Taxes directly affect Americans by compelling them to surrender part of their income to the government, and indirectly since the taxing power can positively or negatively affect economic growth.
In the U.S., our tax regimes are in serious need for reform, both at the state and federal level. Our tax code fails to sufficiently incentivize investment, the primary driver of economic growth. And it hobbles U.S. companies as they compete internationally.
IPI believes that the purpose of taxes is to raise the revenue necessary to fund the legitimate functions of government while imposing the least possible impact upon the functioning of the economy. We therefore believe that taxes should be simple, transparent, neutral, territorial and competitive.
Because of its tremendous potential to stimulate real long-term economic growth, tax reform should be a top priority of policymakers.
The Costs of Revenue Neutrality
Some argue that tax reform must be revenue neutral so that it doesn't cost the economy. But revenue neutral tax reform will have significant costs as well.
Tax Reform Should Address Privacy Risks
Successful tax reform will include efforts to protect the privacy of tax filers
The Economy Can't Wait
Getting the economy growing again should be the Trump administration’s number one priority.
Pass Tax Reform, Then an Import Tariff Only if Needed
The Trump tax reform plan would encourage companies to be bring their production to the U.S., likely mitigating any perceived need for imposing an import tariff.
Big, Credible Tax Reform
Republicans should not trap themselves within the strait jacket of revenue neutrality--the goal is economic growth.
Trump Needs to Cut $10 Trillion in Federal Spending
President Trump is reportedly considering a plan that cuts up to $10 trillion in federal spending over 10 years; and if he gets his tax cuts passed, he'll need every penny to balance the budget.
Philadelphia's Entirely Predictable Soda Tax Backlash
Here’s hoping Philadelphia’s bad example is at least a helpful object lesson to other cities that may have been considering a similar tax measure.
Republicans' Biggest Challenge: Remaining Small-Government Conservatives
Republicans campaigned on cutting the size of government, but they will face a lot of pressure to abandon those promises and spend like Democrats.
Next Big Conservative Challenge: Turning Big Cities Red
If large cities are to return to financial stability and economic growth, they must be run by people who believe in free markets, limited government and a light regulatory burden.
And the Realtors Fling Themselves Against the Tax Reform Wall
Increasing the standard deduction will be a welcome tax break and tax simplification for millions of Americans, and it is no threat to those who itemize and claim the mortgage interest deduction.
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