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.
As Capital Flees, England Is Texas, and the U.S. Is California
When Toyota announced that it was moving from California to Texas, everyone understood why. Because of its high taxes and regulations, California ranks among the worst states in the nation in which to do business. Of greater concern is the fact that the same thing is going on at the national level.
Fiddling While Capital Flees
In a free society, capital can flee hostile policies, and today capital is fleeing to avoid America’s exorbitant business tax rates while our politicians do nothing about it.
Capitol Hill
The Permanent Internet Tax Freedom Act (HR-3086) and the Internet Tax Freedom Forever Act (S-1431) need to pass Congress before the end of the current congressional session, said an Institute for Policy Innovation (IPI) blog post Thursday.
Rescue Consumers from Internet Tax Now
The number of working days remaining in the current congressional session, is quickly dwindling. On the must-do list should be protecting the Internet from multiple or discriminatory taxes, a process Congress began in 1998.
We Need Pro-Growth Tax Reform
The country needs pro-growth tax reform, but eliminating a widely used inventory valuation method may actually cost government revenue and stifle the economic growth this country so desperately needs.
Four Reasons Why Toyota Will Be Looking at California In Its Rearview Mirror
Toyota’s abandoning high-tax California for a business-friendly, low-tax state—as more and more companies and individuals in blue states are doing—makes good economic and political sense.
Justice Scalia Gets It Wrong: Millennials Should Have Already Revolted
Given how much younger workers have to pay in taxes and how little they can expect to get back, the real question is why they didn’t revolt years ago.
Deja 2000: Has the U.S. Been in a Technology Bubble That Just Burst?
The tech bubble of the late 1990s was fueled by an economy that embraced the optimism, so both fell hard and at the same time. The recent tech-stock sell off never got widespread economy buy-in because it's still struggling under President Obama's economic policies. That means the tech sell off is probably more a correction than a bubble that just burst.
The Impact of Tax Reform on Middle Market Business
In a survey, 63 percent said that corporate tax issues were highly or somewhat challenging. It's easy to see why tax reform is crucial to the middle market's fortunes.
A Tax Code Lacking Common Sense
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