Browse by Media Hit and Tax Reform

“The decision leaves e-commerce and especially small sellers extremely vulnerable to states gluttonous for tax revenue particularly from consumers and businesses with no presence in their state,” IPI president Tom Giovanetti said in a statement.

New Hampshire politicians from the State House to the US Senate have lined up against the expansion of internet sales taxes ahead of a Supreme Court hearing later this month that could end the current sales-tax status quo.

Republicans’ Tax Cuts and Jobs Act stands as the most sweeping and comprehensive tax reform in the past 30 years. Tom Giovanetti, president of the Institute for Policy Innovation, a public policy research organization, writes, “President Trump has already done more to grow the U.S. economy than the last four presidents and 28 years combined.” 

“And if both the premium and the penalty are considered a tax, the mandate becomes the largest tax increase in U.S. history. And that doesn't include all of the other taxes imposed by the legislation," reported Merrill Matthews in Forbes.

If this proposal becomes law and more people go the standard-deduction route, it could simplify tax-return preparation for millions. A postcard-size tax return might have as few as 13 or 14 lines, according to the Institute for Policy Innovation, which supplied an illustration.

Two weeks after efforts in the Senate to repeal Obamacare were thwarted by a few Republican senators, there is talk of another attempt at taking aim at what is officially called the Affordable Care Act.

A tax compromise that Trump could claim credit for isn’t hard to imagine. Business would be pleased. “A quarter of a loaf is better than none,” says Tom Giovanetti, president of the center-right Institute for Policy Innovation in Irving, Texas.

"FATCA violates our most-cherished principles of due process, presumption of innocence, personal privacy, and national sovereignty. It does not accomplish its stated objectives but does inflict untold collateral harm at great cost," the letter said.

Giovanetti cautioned that putting more money in people’s pockets so they can spend it is not the purpose of tax reform. “No, cash isn’t enough,” he said. “It has to be invested productively in order to grow the economy. When businesses expand, they hire new workers and create new wealth. And that’s what we want.”