Tax
Big Tech Has Our Data. Should We Tax Them on It?
Tech firms pay taxes on their income, but at relatively low worldwide rates. Should they pay a new, separate tax on the data they collect?
Read MoreSen. Elizabeth Warren’s Wealth Tax Legislation Faces Administrative and Economic Challenges
The United States has never had a comprehensive wealth tax, and while some European countries have them, many more have repealed wealth taxes over the past several decades. That has not deterred Sen. Elizabeth Warren (D-MA) with Reps. Pramila Jayapal (D-WA) and Brendan Boyle (D-PA) from introducing legislation to create a tax on household net…
Read MoreCould Better Government Have Lowered Pandemic Deaths by 100,000 or Reduced Costs by a Trillion Dollars?
It never is easy for government to respond to crises, especially one as big and far-reaching as the COVID-19 pandemic. Yet, a better policymaking process…
Read MoreThe UK Should Not Ignore Problems with its Corporate Tax Base
Wednesday, the United Kingdom will publish its 2021 budget, after the fall budget was delayed due to the pandemic. In addition, the UK government will launch several consultations on the future of the country’s tax strategy on March 23. Changes to the corporation tax—particularly an increase in the UK’s 19 percent corporation tax rate—are reportedly among…
Read MoreRenewed Calls for Severance Taxes on Bottled Spring Water
Amid a debate over water extraction from Florida’s springs, Florida Sen. Annette Taddeo (D) has introduced a bill (SB 562) which, if enacted, would establish an excise tax on water extraction beginning July 1. According to Taddeo, the 12.5 cents per gallon tax matches what water companies pay per gallon when bottling water supplied from public…
Read MoreEvaluating Mississippi’s Plan to Phase Out the Individual Income Tax
Table of Contents Key Findings Introduction Proposed Individual Income Tax Phaseout Proposed Sales Tax Changes Proposed Excise Tax Changes Conclusion Key Findings Mississippi House Bill 1439 would phase out the state’s individual income tax by making the personal exemption more generous over time, funded by increases to sales and excise tax rates and the dedication…
Read MoreMaryland’s Digital Advertising Levy Sets Off a New Battle Over Taxing E-Commerce
The most interesting tax news these days may be state efforts to tax digital advertising
Read MoreEvaluating Proposals to Increase the Corporate Tax Rate and Levy a Minimum Tax on Corporate Book Income
Table of Contents Key Findings Introduction Review of the U.S. Corporate Income Tax — The Statutory Corporate Income Tax and American Competitiveness — Corporate Tax Changes and Marginal Effective Tax Rates — Economic, Revenue, and Distributional Impact of a Corporate Income Tax Increase — Impact of the Corporate Income Tax on Workers — Corporate Income…
Read MoreChanges to the Tax Base Matter When Evaluating the Impact of Tax Reforms
In December, scholars David Hope and Julian Limberg released a study with the London School of Economics (LSE) examining the economic effects of reducing tax rates for high-income individuals and corporations. The paper illustrates how overlooking an important element of the tax system—the structure of the tax base—can lead to an incomplete understanding of how…
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