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  • Backgrounder posted December 15, 2014 by David R. Burton Four Conservative Tax Plans with Equivalent Economic Results

    Over the past three decades, conservatives have proposed four different types of consumption taxes: A national sales tax, A business transfer tax, The Hall–Rabushka–Armey–Forbes flat tax, and The “new flat tax,” also known as an expenditure tax, consumed income tax, inflow-outflow tax, or cash flow tax. Few understand that, despite their…

  • Backgrounder posted June 20, 2014 by David R. Burton Reducing the Burden on Small Public Companies Would Promote Innovation, Job Creation, and Economic Growth

    The Securities Act of 1933 makes it generally illegal to sell securities unless they are registered with the Securities and Exchange Commission (SEC).[1] The act exempts various securities and transactions from this requirement.[2] In addition, the Securities Exchange Act of 1934 requires companies to register if they are listed on a national securities exchange[3] or if…

  • Testimony posted April 11, 2014 by David R. Burton Proposals to Enhance Capital Formation for Small and Emerging Growth Companies

    Testimony before the Capital Markets and Government Sponsored Enterprises Subcommittee of the Committee on Financial Services United States House of Representatives My name is David R. Burton. I am Senior Fellow in Economic Policy at The Heritage Foundation. I would like to express my thanks to Chairman Garrett, Ranking Member Maloney, and Members of the Subcommittee for…

  • Backgrounder posted March 14, 2014 by Curtis S. Dubay, David R. Burton Chairman Camp’s Tax Reform Plan Keeps Debate Alive Despite Flaws

    In February, the chairman of the House Ways and Means Committee, Representative Dave Camp (R–MI), released his long-awaited tax reform plan.[1] Chairman Camp and his staff are to be applauded for the tireless work they put into crafting the plan and for the courage they displayed in releasing it in a difficult environment for tax reform. Discussion and debate about the…

  • Backgrounder posted February 19, 2014 by David R. Burton Don’t Overregulate Business Brokers

    In contrast to its practice for most of its history, current Securities and Exchange Commission (SEC) policies seek to subject business brokers to the same complex and expensive regulatory regime as large Wall Street broker-dealers. This policy has a significant negative impact, particularly on small businesses. Business brokers make the market for closely held small…

  • Backgrounder posted February 5, 2014 by David R. Burton Don’t Crush the Ability of Entrepreneurs and Small Businesses to Raise Capital

    The Securities and Exchange Commission (SEC) is considering substantial increases in the Regulation D thresholds for “accredited investor” income and net worth, which would reduce the pool of potential investors in small businesses and start-up companies by 60 percent to 70 percent. This will impede these firms’ access to capital and, therefore, slow economic growth.…

  • Commentary posted January 15, 2014 by David R. Burton Thinking anew about information exchange and reporting

    The list of national and international agencies and national laws and international agreements governing financial information exchange and reporting has grown preposterously long. It is time to fundamentally reevaluate the information exchange and reporting system that has grown up over the past two decades and begin the process of considering how to better meet the…

  • Issue Brief posted October 31, 2013 by David R. Burton Obamacare’s Health Insurance Tax Targets Consumers and Small Businesses

    Obamacare imposes a new tax on health insurance premiums, starting in 2014, that will increase individual and small group health insurance premiums by an additional 2–3 percent. This will have an adverse impact on consumers and reduce employment but have little impact on large employers and their employees, because large firms usually self-insure. The tax is hidden from…

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