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Taxes

Neil Deininger | 2014-05-05

In search of new sources of revenue to cover state budget deficits, many states have started collecting an “Amazon Tax.” When Florida started collecting sales tax through Amazon on May 1st, 2014, it became the 21st state to do so. As more states force Amazon to collect sales tax, the corporation is seeing a

Diana Furchtgott-Roth | 2014-04-28

Thomas Piketty, a professor at the Paris School of Economics, has achieved a major coup, to use a word from his native France: catapulting his 600-plus-page book on inequality into the public discourse.

He postulates that

Diana Furchtgott-Roth | 2014-04-15

By Tax Day, April 15, Americans have spent an average of 27 hours filling out their tax returns. Tax collections are at a record high. The government's numerous encounters with the debt ceiling and a potential default have placed fiscal policy front and center in this year's midterm elections.

E21 | 2014-04-15

Today, Tax Day, everyone understands that it is not just paying the taxes that is painful, it is getting together all the information and filling out the forms. The cost is time as well as money

Jared Meyer, Neil Deininger | 2014-04-02

While many Netflix subscribers have been binge-watching House of Cards since Season Two premiered in February, the show’s producers have been binging on Maryland taxpayers’ money. Through its first two seasons, the production company of House of Cards, Media Rights Capital, has received more than $26 million

Diana Furchtgott-Roth | 2014-03-18

The idea that inequality limits a country's economic growth is on the verge of becoming conventional wisdom. But, despite the latest International Monetary Fund report, no one has proved the negative macroeconomic effects of inequality.

Nicole Gelinas | 2013-08-19

In mid-May, Gov. Cuomo supposedly solved a big problem: what to do about New York’s insolvent cities, towns, and counties. Yet Cuomo designed his new state-run “financial restructuring board” to be impotent when it comes to the biggest problem for broke local governments: labor costs.

Cuomo said that New York needs a new approach because the old approach — a “financial control board” — isn’t doing the trick anymore. But his answer can’t do a better job.

e21 Team | 2013-04-25

The federal income tax code is saddled with inefficient exemptions, deductions and credits. Streamlining them is an important policy goal, and Senator Max Baucus and Congressman Dave Camp, the respective Chairmen of the two tax writing committees in Congress, are in the process of working through an overhaul of the tax code to lower rates and remove distortionary deductions. Tax simplification is a universal goal, but it has thus far been elusive because what seems a special interest carve-out to many can seem to others the promotion of a valid public policy goal. One example is the deduction for charitable contributions. A group of over two hundred economists published an open letter to Congress as a full page ad in Politico on Thursday, April 25, arguing for the uniqueness of the charitable deduction, which is pasted below.

e21 Staff Editorial | 2012-12-06

In the debate on how best to resolve the so-called “fiscal cliff” of $600 billion of pending tax increases and spending cuts scheduled for January 1, 2013, President Obama is not only insisting on more tax revenue; he is demanding that this revenue be raised in the most economically counterproductive manner possible.

Reihan Salam | 2012-10-13

Late last month, Sahil Kapur of Talking Points Memo reported that the Romney campaign had pushed back against Kevin Hassett’s suggestion that a Romney administration would sacrifice rate cuts to preserve progressivity and revenue neutrality:


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