Let’s say I wanted to maintain the status quo distribution and all of the incentives related to it. But I also wanted to do it in a way that cut the tax level to 0% of GDP or 100% of GDP. How would I do that? It’s simple.
0% of GDP
Right now the [...]
The last few months has been an banner one for the incoherent but totally hegemonic concept of “taxpayer money.” I’ve been meaning to talk about this funny concept for some time now and so I figure I should take advantage of these events to do that here.
In Louisiana, Bobby Jindal [...]
Like everyone else in policy circles, I think the tax code as it is currently constructed is a complicated joke. There is a lot that can be said for how to fix it, some of which I don’t know enough to comment about. One thing I do know enough to comment about is how to [...]
New post at policy shop. Excerpt:
It is this kind of complexity that renders most siloed discussions of the value of the corporate income tax somewhat ridiculous. Talking about the value of any particular tax in a vacuum almost always generates this kind of borderline futile discussion. What ultimately matters is not the [...]
The OECD released some information about income taxes for 2011. It’s hard to know how interesting the information is because all the spreadsheet links in the release are broken. Nonetheless, the release provides this chart, which compares income taxes in the United States to income taxes in the rest of the [...]
The Center for Budget and Policy Priorities put out a nice series of charts today detailing the distributional impact of various regressive taxes in the United States. One of the findings is that the lowest quintile of households pay 1.6% of their income in excise taxes each year while the top 1% pay [...]
The Center for Tax Justice released a report yesterday detailing the 2011 tax burdens of different income groups in the United States. Contrary to common wisdom, the poor are not free-riding on taxes and the rich are not drowning in them. As the CTJ notes (and as I have noted before), [...]
The right-wing canard that corporations are buckling under high corporate taxes has always been misleading. Although the U.S. has a 35% corporate tax rate, few if any corporations actually pay that statutory rate. In reality, the United States has the second lowest ratio of corporate tax revenues to GDP in the [...]
The New York Times ran a piece about some of the hurdles facing the adoption of President Obama’s new tax rule dubbed the Buffett Rule. The idea for the Buffett Rule comes from the fact that investors who make their money primarily through capital gains pay much lower tax rates than a great [...]
The Internal Revenue Service released a report on how much revenue the government misses out on due to illegally unpaid taxes. According to their estimates, the figure for 2006 was around $450 billion, with 17 percent of taxes going unpaid. Around $65 billion of the unpaid taxes are recovered through enforcement, leaving a [...]