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Tag Archives: tax reform
The Corporate Income Tax
Should the U.S. Corporate Income Tax be increased from its current 21% (plus state corporate income taxes that average about 5%) back to 28%? No, it should be reduced to zero. The corporate income tax should be abolished. One of … Continue reading
Posted in Economics, taxes
Tagged consumption tax, income taxes, social security, tax reform, Universal Basic Income, VAT
2 Comments
What is SALT really about?
Here is the proper way to understand the SALT issue—whether State and Local Taxes should be deducted from taxable income on which federal taxes are levied. Assume that taxpayer 1 (Jack) in state A and taxpayer 2 (Mary) in state … Continue reading
Posted in Economics, taxes
Tagged Federal Income tax, income taxes, local taxes, SALT, SALT deduction, state taxes, tax reform
22 Comments
SALT—More press nonsense on tax reform
The elimination of State and Local Tax (SALT) deductions from the proposed tax reforms working their way through Congress has become a hot topic. Fine, but please keep the discussion honest. Sadly my local newspaper, The Washington Post, is not … Continue reading
Posted in Debt, taxes
Tagged debt, debt crisis, Federal Reserve, SALT, Tax breaks, tax cut, tax deductions, tax rate, tax reform, tax subsidies
1 Comment
Tax reform and the press
I have written several articles about the need for serious tax reform in the U.S. and set out the basic principles of good tax law accepted by most economists. “US Federal Tax Policy”, Cayman Financial Review, Issue 16, Third Quarter … Continue reading
Posted in Economics, News and politics, taxes
Tagged consumption tax, income tax, tax reform, the poor, top 1%
1 Comment
Taxing the Wealthy
The administration has “backed a tax plan that analysts say would greatly benefit the wealthy.” I want to unpack that and take a closer look at what it might mean. “The Trump tax plan drops the top bracket from 39.6 to … Continue reading
Next up: Tax Reform
Hopefully the tax reform law to be adopted by Congress in the coming months will closely resemble The Better Way Tax proposed outline by Congressmen Paul Ryan and Kevin Brady on June 24, 2016. Their plan would be revenue neutral … Continue reading
Posted in News and politics, taxes
Tagged Better Way, Border Adjustment Tax, Brady, economic growth, Ryan, tax reform, taxation, VAT
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Econ 101 – Jobs and Income Growth
At long last the economy has more or less reached full employment. The December 2016 unemployment rate was 4.7 percent while the Federal Reserve’s assessment of normal full employment (NAIRU—non-accelerating inflation rate of unemployment) is 4.8 percent. More over, wage … Continue reading
Posted in Economics, Government, News and politics, trade, Uncategorized
Tagged economic growth, entitlements, growth, jobs, productivity, regulations, regulatory reform, tariffs, tax reform, trade, Trump
1 Comment
My Political Platform for the Nation – 2017
For me, the ideal American government would deliver its important but limited functions efficiently and effectively and would raise the money to pay for these activities with efficient, minimally distorting (neutral), and fair taxes following a principle of maximum subsidiarity … Continue reading
Posted in Banks, Economics, Government, Money
Tagged currency board, debt, education, Fiscal Policy, Foreign policy, Health care, Minimum Guaranteed Income, monetary policy, safety net, SDR, tax reform, taxation, trade, tuition vouchers, VAT, WTO
1 Comment
Trump the Terrible
To say that Trump’s future presidency promises to be a mixed bag, while true, seems increasingly too kind. On the positive side there seems to be a very good chance of a truly monumental tax reform. House Ways and Means … Continue reading
Posted in Government, News and politics, Uncategorized
Tagged Abe, Argentina, Carrier, corruption, Donald Trump, Ivanka, Pence, tax reform, Trump
4 Comments
