Taxes

Repairing Bridges without Raising Gas Taxes

In the wake of the August 1, 2007, Minneapolis bridge collapse, Rep. Jim Oberstar (D-Minn.), chairman of the House Transportation and Infrastructure Committee, proposed a 5-cents-per-gallon increase i…
How to Fix the Alternative Minimum Tax

The Alternative Minimum Tax (AMT) is an income tax monstrosity that denies middle-to-high-income people deductions that would otherwise be legitimate.  The AMT requires an increasing number of taxpaye…
Taxing the Poor

The income tax is highly progressive.  It takes a higher portion of the income of the rich than the poor.  But federal, state and local governments raise revenues in a number of ways that are regressi…
Does It Pay to Save?

Does it pay to save?  The answer is often no.  In fact, penalties for saving are astronomical for some households, particularly young, single-parent and lower-income families.  But these are the very…
A Wiser Way For Retirees to Donate

Charitable gift funds are more than a toy of the nearly rich. They offer a surprising advantage to retirees with ordinary incomes. Using a charitable gift fund, a retired couple can increase their giv…
Twelve Reform Steps for Texas

Texas needs to end its addiction to inefficient, unresponsive public policies.  To that end, the Legislature should go cold turkey and consider 12 radical changes.
Taxes and Economic Growth

Some activities of government clearly contribute to economic growth. Beyond some minimum level, however, government becomes a net drain on the economy. Empirical evidence shows that as the tax burden…
Killing the Death Tax

This summer, the Senate fell short of the super-majority needed to bring to a vote a measure permanently repealing the estate tax.