NCPA - National Center for Policy Analysis

Daily Policy Digest

Tax and Spending Issues

Effects of a Border-adjusted Corporate Tax

U.S. firms pay the world's highest corporate tax rate -- a federal tax of 39.1 percent combined with an average 4.1 percent state tax on profits from domestic sales, or foreign sales (when and if the profits are repatriated). In contrast, the lower tax rate embedded in the prices of those goods produced in other countries and shipped to the United States often gives them a competitive advantage, whether due to other countries' lower value added taxes (VAT) or much lower corporate tax rates, writes NCPA Senior Fellow Richard B. McKenzie...

Yes, Churches Should Remain Tax Exempt

There are many reasons that churches should remain tax-exempt, not the least of which is defining the “profit” of a nonprofit church would be difficult. The IRS already has in place exceptions where nonprofits can be taxed, such as if an organization rents out space for an event not related to its purpose or earns income in any other non-related activities, writes NCPA Senior Fellow Pamela Villarreal in an oped for Inside Sources...

Should U.S. Imports Be Taxed to Subsidize Exports?

A proposed border-adjusted tax would be completely undermined by international competitive markets, according to a new study by NCPA Senior Fellow David Ranson, president and director of research at HCWE & Co...

Great Moments in Government Waste, Fraud and Abuse

Donald Trump’s proposed "skinny budget" was released last week. Of course, the outrage and howls of indignation have begun. Already, there are Twitter hashtags referencing cuts to programs for the poor (#Mealsonwheels is trending) and "hair on fire" claims that people and puppies will die because of EPA cuts, education cuts, public television cuts, and of course, the expansion of defense spending, writes NCPA Senior Fellow Pamela Villarreal...

The Economic Effects of Repealing the Affordable Care Act

The Congressional Budget Office (CBO) recently analyzed the effect of repealing and replacing the Affordable Care Act on federal revenues and the uninsured. There was much hype about their conclusions that 24 million people would be added to the ranks of the uninsured (although about 14 million of those would choose not to buy insurance because they would no longer be forced to). Also, federal deficits would fall by $337 billion over 10 years. However, the CBO did not measure the economic effects of repealing some of the most burdensome aspects of Obamacare, which would create hundreds of thousands of jobs and increase Americans' personal incomes, according to an NCPA analysis by Dr. David Tuerck, President of Beacon Hill Institute and Paul Bachman, Director of Research...

Repealing the ACA Would Bring Economic Growth

The recent CBO analysis of repealing the Affordable Care Act focused on the number of people who become "uninsured" because they would no longer be forced to purchase insurance. What they didn't show, however, was how the Affordable Care Act has been a burden to job creation, GDP growth and personal income growth. The NCPA's analysis finds that repealing the burdensome taxes that were imposed as a result of the ACA would improve the national economy.

Tax Reform and the Border-adjusted Tax

Replacing the corporate income tax with a cash-flow business tax would increase the aftertax return to capital investment, encouraging economic growth. In contrast, border-adjusting the tax does not appear to accomplish the purpose its proponents seek, while penalizing exports from some countries (and favoring others) and raising prices for consumers, writes Pamela Villarreal and Joe Barnett...

Bloomberg-funded Soda Tax Study Does Not Answer the Relevant Questions

A new study on the effect of a countrywide soda tax in Mexico finds that the tax on sugary sodas and fruit drinks reduced consumption by consumers, particularly lower-income households. However, for proponents who want to use soda taxes as a tool to curb obesity, the study proves nothing, writes NCPA Senior Fellow Pamela Villarreal...

Social Security Disability Insurance Program is "High Risk," Says GAO

Every two years the Government Accountability Office (GAO) identifies and reports on government operations that are "high risk" -- meaning vulnerable to fraud, waste, abuse, mismanagement and inefficiency. The Social Security Disability Insurance (SSDI) program has been identified by the GAO as high risk since 2003. According to their 2017 report, some recommended goals have been "partially met," but more needs to be done, writes NCPA Senior Fellow Pam Villarreal...

Soda Taxes: Regressive and Unnecessary

A soda tax internalizes the negative externalities of market activities -- in this case the "public" health costs of obesity and other diseases -- by assessing at least a portion of these costs to consumers or soft drink manufacturers. Soda taxes are also flat taxes, thus regressive in nature, negatively impacting lower-income consumers, writes NCPA Senior Fellow Thomas Hemphill...


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