Daily Policy Digest

Tax and Spending Issues

To Help U.S. Workers Find Jobs, Eliminate or Slash Corporate Income Tax

One major reason to reform the corporate income tax, which generates just 1.8 percent of the nation's gross domestic product, is to attract capital back to the United States to save the country from fiscal collapse, says Laurence Kotlikoff, a senior fellow with National Center for Policy Analysis...

Income Taxes Rise Worldwide in 2013

Governments in developed economies raised income taxes for the third straight year in 2013 in a drive to cut their budget deficits, while real incomes declined in a number of rich countries...

$2.1 Trillion in Untaxed Profits Abroad

More than $2 trillion in foreign profits were held by U.S. corporations abroad in 2013...

Corporate Income Tax Needs Structural Reform

Corporations operating internationally can shift income around through a variety of techniques that allow them to manipulate the "source" of that income and avoid the U.S. corporate income tax...

Tax Freedom Day Three Days Later Than Last Year

Americans will spend more on taxes in 2014 than on food, clothing and housing combined...

Housing Tax Benefits Do Not Increase Homeownership

The mortgage-interest deduction applies to the portion of a home financed by debt, so it ends up encouraging greater debt financing than would otherwise be the case...

States Act on Tax Reform

From 2002 to 2012, the nine U.S. states without personal income taxes saw 30 percent greater growth in gross domestic product than the nine states with the highest marginal tax rates...

State and Local Tax Burdens as a Share of Income

Nationwide, on average, a taxpayer pays $3,064 in taxes to his home state and $1,152 in taxes to other states...

The Government Debt Iceberg

Under the most realistic assumptions the U.S. fiscal imbalance is about seven times the total national debt held by the public...

Taxes on E-Cigarettes Would Perpetuate Smoking

By making e-cigarettes more expensive, additional taxes would discourage smokers from switching from tobacco cigarettes and undermine any economic incentive for smokers to quit...


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