Tax Competition News
U.S. Ranks 94th of 100 Tax Systems
The Tax Attractiveness Index has given the U.S. tax code poor marks. Robert W. Wood, writing in Forbes, blames America’s uncompetitive tax system for corporate tax avoidance. http://www.forbes.com/sites/robertwood/2014/04/20/u-s-ranks-94th-of-100-tax-systems-what-slovakia-could-teach-irs/
Maine’s Terrible “Tax Haven” Legislation
Now even states are getting in on the anti-“Tax Haven” demagoguery! Nancy McLernon of the Organization for International Investment dismantles Maine’s terrible, very bad, no good idea to undermine tax competition. http://bangordailynews.com/2014/04/20/opinion/tax-haven-legislation-is-misguided-will-make-maine-even-less-competitive/
Competition Bites Finland
One of Finland’s richest men, banker Björn Wahlroos, is packing up and moving to Sweden. The political class has responded predictably, with attempts to shame those fleeing oppressive rates rather than self reflection. http://yle.fi/uutiset/banking_tycoon_wahlroos_quits_finland/7182953
Hard Lessons for the French
France has learned the hard way that high taxes and class warfare demagoguery are not a recipe for economic success, especially when taxpayers and capital are mobile. Now, they’re at least partly reversing course. The latest evidence is an admission by new Finance Minister Michel Sapin that taxes are too high and that corporate cuts are coming. http://www.tax-news.com/news/France_To_Cut_Corporate_Tax_Burden_Sapin_Says____64409.html
The Troubles With Tax Season
High Costs of Compliance
The National Taxpayers Union calculates that filling taxes consumes 6.1 billion hours and costs $224.3 billion. And that’s not even counting state and local taxes! Paul Bedard at the Washington Examiner provides the lowlights. http://washingtonexaminer.com/article/2547201
CF&P Foundation Video Has More on the Onerous Tax Code
An oldie but a goodie, Hiwa Alaghebandian narrates our most popular Economics 101 video to date detailing the still relevant problems with such a complex tax code. http://freedomandprosperity.org/2010/videos/the-onerous-compliance-cost-of-the-internal-revenue-code/
From the Market Center Blog…
Agreeing with Leftists (Sort of) About the World’s Sixth-Largest “Tax Haven”
Even a stopped clock is right twice a day. The leftists at Tax Justice Network have stumbled upon a truth about US efforts to attract foreign investment through favorable tax policies. Unfortunately, after tripping over the truth they manage to get up, dust themselves off, and proceed as if nothing has happened. http://freedomandprosperity.org/2014/blog/agreeing-with-leftists-sort-of-about-the-worlds-sixth-largest-tax-haven/
Tax Day Fantasies
Do you dream of a world without the internal revenue code? Dan Mitchell does. http://freedomandprosperity.org/2014/blog/tax-day-fantasies/
Some Good News on Tax Reform
Tax reform has broad public support. But before that can happen, we need real leadership in Washington. http://freedomandprosperity.org/2014/blog/some-good-news-on-tax-reform-if-you-prefer-the-flat-tax-over-the-national-sales-tax/
