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.
Ten Steps for a Market-Oriented Health Care System
Congress is looking for health care reform steps to take to replace President Obama's Affordable Care Act. Here are 10 market-oriented steps that will help will go a long way toward increasing access, lowering costs and improving the quality of health care.
Your MyRA, My PRA
With a couple of tweaks, the President’s MyRA proposal can become the Personal Retirement Account conservatives have championed for 30 years.
The Kind of Tax Reform We Don't Need
The benefits to our economy of reducing the corporate tax rate and moving to a territorial system are indisputable for individuals, small business and large corporations alike.
Not a Great Strategy
Having both the highest national debt and the highest corporate tax rate among our competitors is not a very competitive strategy for the future.
Wearing the Need for Tax Reform on Your Sleeve
Taxable events are on the move but archaic tax codes remain moribund.
Other Comments: The Empire Strikes Back
After years of watching companies flee the country, the UK has begun aggressively reforming its corporate tax code. Meanwhile, the 40% U.S. corporate tax rate remains the highest in the world.
The Courage of their Limited Government Convictions
With the next round of sequester spending restraints scheduled to hit in 2014, we’re about to find out which Republicans have the courage of their supposed limited government convictions.
Taxpayers Foot The Bill For Study Supporting New Internet Sales Taxes
In addition to the new paper, the SBA Office of Advocacy has begun a social media campaign to promote both the paper and Internet sales taxes. IPI even found a list of suggested Twitter tweets that the Office of Advocacy wrote for supporters to use to promote the flawed report.
Reform is Just a Word, in Taxes as in Health Care
Tax reformers need to keep a clear vision of what they’re trying to accomplish with tax reform, because if the purpose of the reform is to stimulate economic growth it must increase the after-tax rate of return to capital, otherwise reform could actually make things worse.
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