Joe Biden's promises about future taxation are impossible to fulfill because they are contradictory.
Provide direct relief to households and businesses harmed by the pandemic, but don’t bail out profligate, high-spending states.
Avoiding new regulation and pursuing new deregulatory efforts could be a fruitful part of a new economic growth agenda.
In the example of California’s proposed exit tax, we are watching in real time the tendency of socialist policies to gradually move toward totalitarianism.
California’s purpose in life seems to be to model bad policy for the benefit of the other 49 states. So we watch and learn from California’s mistakes.
In 2021 the economy will need pro-growth, not pro-government, policies to enable economic recovery. But the Biden/Harris ticket is promising the opposite.
If the Biden/Harris team wins the election and keeps its promises to raise corporate taxes, U.S. corporations could find themselves right back in the same old tax mess, and looking once again to escape
It’s good news that a payroll tax cut has been dropped from discussion about further Covid-19 economic relief. There are far better ways to provide relief and to attempt economic stimulus.
Any new legislation designed to mitigate the continuing impact of the Covid-19 pandemic should contain both relief and stimulus measures, and full business expensing is an excellent candidate for the stimulus part of the package.
As the November election draws nearer, a key issue will be “Did the Trump tax cuts work?” The answer is an unequivocal “yes.”