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.
A Critical Tax Case Goes to the Supreme Court
The Supreme Court has agreed to hear Moore vs. United States, which could open the door to almost unlimited federal taxation of wealth deemed as income. It’s likely the most important tax case of the century.
Cuts in State Income Tax Rates Continue
More states are cutting their income tax rates, and that's good for three reasons.
The U.S. Tax Rate on Capital is Rising
Allowing the expensing of capital investment to phase out, as it's scheduled to do, would effectively increase taxes on business, with all the downsides that come with a tax increase.
Coalition Letter in Support of Capital Gains Indexing
Government should not profit from inflation. The costs basis for capital gains should be indexed to inflation, like other income taxes.
We Need Another George Harrison
The Beatles learned the hard way how greedy the government can be.
The IRS May Soon Audit Even More Black Taxpayers
Thanks to Democrats' IRS expansion, even more black taxpayers may be audited by the IRS.
Weed and Greed: How Marijuana Taxation Went Up in Smoke
Greedy politicians always push for high tax rates, which leads to gaming the system or illegal activity. Greed leads to more greed, and especially with weed.
Note to the Wall Street Journal: Republicans Aren't Raising Taxes
Republicans want to cut certain clean energy subsidies, which were increased or extended under Democrats.
When Is Income Not Income?
The Washington state legislature and supreme court are ignoring the plain language of the state's constitution in order to impose a virtue-signaling capital gains tax on the wealthy.
The Unconstitutional, Unjust, and Destructive Tax on Unrealized Capital Gains
Biden's tax on unrealized capital gains joins my growing list of the worst tax proposals.
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