Daily Policy Digest
Tax and Spending Issues
| Tax Hikes over $250k: End of the Upper Middle Class? According to Salary.com, the cost of living in New York City is 105.7 percent higher than in Peoria, Illinois... |
| The Truth about Federal Salary Numbers A Congressional Budget Office study published in January found that the federal retirement package was 2.7 times more generous than what is paid by large private-sector firms... |
| Without a Cliff Deal, States Will Bleed Red Ink The economic slowdown resulting from failure to secure a deal regarding the fiscal cliff would significantly affect state economic activity as well as undercut many state budgets... |
| The Territorial Taxation Experience in the Netherlands The Netherlands has collected more tax revenue than the Organization for Economic Cooperation and Development average until very recently, despite lowering its corporate tax rate from 35 percent in 2001 to 25 percent... |
| Japan Disproves Fear of Territorial Taxation Japan's system of territorial taxation was designed to stimulate innovation in Japan through strengthening the competitiveness of Japanese firms in foreign markets and encouraging repatriation of overseas earnings... |
| Canada's Experience with Territorial Taxation Canada creates treaties with other countries and any Canadian company that makes income in one of those countries is exempt from paying domestic taxes... |
| Companies Warn About Cutbacks Lockheed Martin says the automatic cuts under the fiscal cliff would force it to lay off 10,000 workers... |
| The United Kingdom's Move to Territorial Taxation The success of the United Kingdom's transition to a territorial tax system should allay any fears that U.S. policymakers have about shifting to this system... |
| How Would the Fiscal Cliff Affect Typical Families in Each State? The average family in high-income and low-income states would be more affected by changes under the fiscal cliff than those in middle-income states... |
| The Fiscal Cliff: A Primer The federal government is borrowing an average of $2.7 billion a day; the debt is expected to approach the ceiling by the end of 2012... |
