The Marketplace Fairness Act, a misguided attempt to allow expanded sales tax collection online, passed the Senate on Monday, though its fate in the House is less clear. Also less clear is whether the law passes constitutional muster. At the very least it severely undermines the federalist system established by our founding document. Central to […]
read more...Yesterday, an article in The Wall Street Journal by Ben DiPietro reported that Senator Rand Paul is holding up “FATCA treaties” in the Senate. If only it were so, but this is simply untrue. There are no such FATCA treaties. The treaties in question are separate tax agreements that have nothing specifically to do with […]
read more...This article appeared in PolicyMic.
read more...Thanks to tax competition and beginning with the cuts under Reagan and Thatcher, global tax rates have declined over the last several decades. In order to remain economically competitive, politicians have had to refrain from the excessive fleecing of taxpayers and businesses – or at least settled for confiscating less wealth than they otherwise would. […]
read more...Hardly anyone stands up for taxpayers. It’s the classic problem of concentrated interests and defused costs. Those who benefit from profligate government spending are strongly motivated to lobby for their pet handout. But every individual bit of waste only adds a tiny burden on any individual taxpayer, as the costs are spread out over the […]
read more...Like so many bad ideas in Washington, the recently introduced “Marketplace Fairness Act” has bipartisan support. But there’s nothing fair about allowing states to reach outside their borders to tax businesses headquartered elsewhere. In fact, the bill’s broad expansion of state taxing authority is a direct assault on tax competition, federalism and, indeed, basic fairness. […]
read more...Burdens created by the Foreign Account Tax Compliance Act, particularly on Americans living abroad, are so obviously unjust that they are now raising the ire of more than just those of us ideologically and philosophically opposed to large government. Writing for Examiner.com, Koshek Rama Moorthi makes a solid case against FATCA based on its punishing […]
read more...The Transaction Account Guarantee Program (TAG) is set to expire at the end of the year. In the midst of the financial crisis, TAG extended bank deposit guarantees for checking accounts above the normal FDIC $250,000 limit, making them unlimited. The program was extended after its first two-year expiration came up in 2010. It should […]
read more...This article appeared in The Daily Caller.
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