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.
Budget Deal Perpetuates the Social Security Trust Fund Fiction
The budget deal perpetuates the Social Security trust fund fiction by borrowing from one trust fund that has loaned its assets for IOUs to save another trust fund which has spent its IOUs.
RIP: Budget Sequester, 2013-2015
The budget sequester had a short but meaningful life. It successfully helped to control federal spending, which is why Democrats and many Republicans had to snuff it out.
Playing Politics With Internet Taxes
Congress should move to protect taxpayers and Internet users once and for all by making the moratorium permanent.
A Quick and Easy Way to Reduce Income Inequality
The best way to address the problem of income inequality is to ensure that lower-income workers can accumulate wealth, and the best way to do that is to replace Social Security with personal retirement accounts.
Here Are Some More Taxes That Should Be Repealed
In his tax reform plan, GOP presidential front-runner Donald Trump proposed repealing three different taxes.
Should We Replace The Federal Income Tax With A National Sales Tax?
I, for one, would be willing to pay a total (federal, state, and local) sales tax of 15 percent to 20 percent if it meant we could scrap the Form 1040 and say goodbye to the IRS.
Donald Trump Steps Up With Strong, Pro-Growth Tax Plan
Trump’s campaign has embraced a populist approach, and his tax plan reflects that stance in his move to a more progressive personal income tax. But before he was a populist, Trump was a businessman, and his corporate tax cut reflects his business acumen.
These Democrats Who Voted For Obamacare Are Now Desperate To Change It
Some Democrats didn’t really oppose the Cadillac tax when Obamacare passed only oppose it now because of political expediency.
Sugar Policy
When the maker of Oreo cookies announced it was moving one assembly line from Illinois to Mexico, it said the decision was the result of labor unions, not the price of sugar.
The Clouded Judgment of Tax Authorities
Revenue agencies will often seek to extend taxes well beyond what was contemplated when legislation was enacted, in the name of securing ever more money for government, even to the detriment of innovation.
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