TaxBytes

The election was an opportunity for the American people to pull back from the abyss formed by all of these “cliffs” we face. But instead of stepping back from the abyss, it appears that the American people have decided take a step closer, lean forward, and gaze into the abyss.

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.

The incoming president and Congress must take immediate steps to stimulate real economic growth, which will make pursuing the rest of their agenda and solving our other problems possible, and easier.

The reason Obama and Biden are convinced Romney’s tax plan cannot work is that having failed themselves to grow the economy, they are defining economic growth out of the equation.

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?

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.

The tax code should treat investment in human capital at least on par with investment in physical capital.

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?

Governments all over the world are in a lather over the “tax gap”—revenue to which they feel entitled but fail to collect for various reasons. And the U.S. is no exception.

Although all 50 states report an increase in tax receipts they want more, and are trying to get more via the so-called Marketplace Fairness Act, even if it involves trampling on Supreme Court precedent.