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.
Tariffs: The Most Insidious Tax of All
Trump's tariffs, which Biden has retained, have cost Americans—not other countries—billions of dollars.
Trump's Tariffs Swelled the Swamp
Trump's tariffs, which Biden has retained, have cost Americans—not other countries—billions of dollars.
The Worst of the Biden Tax Increases
There are a number of candidates for the title of "Worst Tax Increases" in Biden's new tax proposals. Here's my two worst options.
With Biden, a Foot in the Door Always Leads to Barging In
Biden uses every new tax and regulation, regardless of how small, as a stepping stone to soon demand even more.
Stock Buybacks are Good, Not Bad
Despite Democratic criticisms, there are good economic reasons why some companies choose to buy back their own stocks.
More Good News on State Taxes
States that have a low flat rate or no state income tax are seeing significant revenue growth.
Taxing Wealth Is Taxing Work
President Biden's effort to punish the wealthy with higher taxes reveals, yet again, that he doesn't understand either wealth or tax rates.
A National Sales Tax Would Be Simple and Efficient--But the Current Plan Won't Work
The only way a national sales tax could actually work is if the percentage could be significantly lower. But doing that would require Congress to vastly reduce federal spending. Not much chance of that.
A Better Way to Pay for Roads
It’s time to start talking about phasing out fuel taxes and phasing in usage taxes. It simply makes sense that those who put the most stress on our transportation infrastructure and who profit from the roads have a proportional share in paying for them.
Constitutions Matter for Tax Rates
One benefit of a flat tax is that legislators can't stick it to high-income individuals and corporations without sticking it to everyone.
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