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.
Tax and Loot Policies
Governor Haslam of Tennessee was “surprised” to hear he had a failing fiscal grade and has argued that his tax increases were for the kids. When a politician uses kids as defense, grab your liberties and your wallet, as you are about to lose at least one. In this case, in the Main Street Fairness Act, politicians have found a way to take both.
Tonight's Debate: Will Romney Step Up to Plate With Bold Solutions?
While conservative pundits and GOP strategists have encouraged Gov. Romney to be bold in tonight's first debate against President Obama and not play "small-ball," IPI experts are available to discuss whether or not the Republican candidate indeed stepped up to the plate.
High Tax Rates Drive Jobs Overseas
When it comes to the issue of lowering the corporate tax rate, Tom Giovanetti of the Institute for Policy Innovation says Sweden shows more understanding than the U.S., which maintains the highest rate among developed countries.
Matthews: 'No Surprise' ObamaCare Penalty to Hit Millions More Than Previously Estimated
It comes as no surprise that CBO officials now estimate that nearly 6 million Americans - most in the middle class - will have to pay an average penalty of about $1,200 starting in 2014 for failing to obtain health insurance, a 50 percent increase than previously estimated.
Sweden Gets It
What government should be asking is: Would we rather have 22 percent of a thriving, growing business sector, or 35 percent of a moribund, struggling business sector?
Fed Quantitative Easing Won't Help Economy, But White House Regulatory Easing Will
While reports today indicate the Fed will spend $40 billion per month on bond purchases to boost the weak economy, with no end date set, Dr. Merrill Matthews says it’s not quantitative easing that the economy needs but regulatory easing.
The IRS in Real-Time
The IRS’s proposed “Real-Time Tax System” will result in a nightmare of compliance, increased IRS spending, and ultimately the loss of our system of voluntary tax compliance.
France Provides a Preview of a Re-Elected Obama Tax Policies
France is leading the way with higher taxes on high-income earners, prompting some of them to move elsewhere. Could that happen in the U.S. because of Obama's tax increases?
Are Machines More Important than People?
The tax code should treat investment in human capital at least on par with investment in physical capital.
Now, with More Math!
With the selection of Paul Ryan as Mitt Romney’s companion on the Republican presidential ticket, it’s clear math will play a major role in the fall campaign. But who’s got the right math?
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