Abstract: The current tax code is an enormous burden on the economy, preventing it from reaching its full potential. Tax reform is long overdue. After initial reluctance, President Obama now agrees that the economy needs tax reform. He…
President Obama recently sent Congress a series of policies as part of his “Startup America Initiative.”[1] The goal of the program is to help startups and small businesses to create jobs. The proposal includes four tax provisions that he also included in his budget. Some…
Abstract: President Obama’s tax plan will, famously, end the 2001 and 2003 tax relief for Americans earning $250,000 a year or more. But, far from raising taxes only on the “rich,” the widespread effects of the Obama plan will hurt Americans at every income…
The 2001 and 2003 tax relief packages are set to expire at the end of this year. If these packages are allowed to expire, on January 1, 2011, taxes will go up automatically for American taxpayers—without a single piece of legislation ever crossing the President’s desk. President…
Abstract: There is much talk in Washington and the media about the impending expiration of the 2001 and 2003 tax relief. Those in favor of letting the tax cuts expire argue that to do otherwise would be merely…
Abstract: The top tax rates on qualified dividends are scheduled to jump from 15 percent to nearly 40 percent on January 1, 2011—just one of many reasons the Bush tax relief should be extended. Without an extension, dividend…
President Barack Obama has called for a huge, $921 billion tax increase beginning on January 1, 2011. Congressional Democrats intend to meet his request and more—after the mid-term elections.[1] To achieve the bulk of this increase, they need merely do nothing: The tax relief enacted a decade ago…
Abstract: President Obama has called for a huge tax increase to take effect on January 1, 2011. Instead of reducing spending, he proposes to raise taxes on a wide swath of taxpayers—including small businesses—despite the weak economic recovery. Congressional Democrats stand poised (immediately following the November elections) to…
Abstract: The Economic Freedom Act, proposed by Representative Jim Jordan, would terminate the ineffective Troubled Assets Relief Program (TARP), and substitute a proven way to stimulate the economy: tax relief—from permanent repeal of the capital gains and death taxes to significant reductions in payroll…
THE ISSUE: Taxes should raise the revenue to fund necessary government operations in ways that cause the least possible economic damage. Accordingly, Congress and President Obama should reform the existing tax code and drop their current plans to increase taxes…
This key research from 2005 has been updated in J.D. Foster's paper "The New Flat Tax—Easy as One, Two, Three" There is widespread consensus that the current tax system is a complicated failure that hinders the…
The Democratic majority in the U.S. House of Representatives must decide whether to write a budget extending, expiring, or repealing the Bush tax cuts. These tax cuts have provided a convenient scapegoat for the nation's budget and economic challenges. Despite a 42 percent spending increase in 2001, critics charge that…
Abstract: President Obama has proposed raising the capital gains tax rate to generate billions in new revenues for the federal government. However, according to data included in the President’s own budget, if implemented this tax increase would—at best—offset the…
The new White House proposal to impose a Medicare tax on investment income would reduce demand for investment, which is the last thing that the economy needs right now. It would slow recovery, reduce employment opportunities, and hinder wage growth. A dynamic macroeconomic analysis helps one see…
Although policymakers are currently discussing an $825 billion economic stimulus package, completely eliminating capital gains and dividend taxes would be a cheaper and more effective means of sparking economic renewal. Capable of producing a short-term stimulus, capital gains tax cuts are also a responsible pro-growth policy. Such…
How many times should your money be taxed? One time? Two times? Three times? Four? Sounds like a ridiculous...…
With all the damaging bills coming out of Congress today, and promises of more to come, it is easy to lose sight of...…
Rep. Louie Gohmert (R-TX), champion of a federal tax holiday, faced skeptical questions today about his idea to give...…
Throughout his 1992 campaign, then-candidate Bill Clinton promised tax cuts for the middle class. By the time he was...…
Today the Wall Street Journal published a letter from Barack Obama economic adviser Jeffrey Liebman responding to an...…
In an article in the New York Sun, I praised Barack Obama's new tax plan as a great step in the right direction. This is…
The Atlantic's Megan McArdle looks over Barack Obama's economic plans and doesn't like what she sees. Focusing on taxes...…
The New York Sun pokes fun at the Treasury Department, which this week released two reports assessing the impact of the...…
"ObamaNation" was apoplectic over ABC News' decision to question Barack Obama over his associations with a Louis...…
If last night's Democratic debate proved anything, it's that the era of liberal tax-and-spend promises is back with a...…