Market-oriented tax policy has played a key role in Iceland’s rebirth. Major tax reforms include slashing the corporate tax rate from 50 percent to 18 percent, abolition of the wealth tax, a low-rate 10 percent flat tax on capital income, and an intermediate-rate 36 percent flat tax on labor income. These supply-side reforms, along with policies such as privatization and deregulation, have yielded predictable results. Incomes are rising, unemployment is almost nonexistent, and the government is collecting more revenue from a larger tax b

The Center for Freedom and Prosperity Foundation, joined by 44 of the country’s largest and most influential free-market groups, has sent a letter urging Treasury Secretary Henry Paulson to “protect America’s self-interest” and oppose proposals by Senator Byron Dorgan (D-ND) and Senator Carl Levin (D-MI) that “seek to thwart tax competition and penalize good tax […]

America is one of the few nations to tax citizens who live and work abroad. Indeed, no other industrialized nation imposes a second layer of tax on its expatriates. Senator Jim DeMint (R-SC) has introduced legislation, the Working American Competitiveness Act (S. 3496), to eliminate the worldwide reach of the IRS. By creating a territorial system for labor income, the DeMint legislation will put American workers and U.S.-based multinationals on a level playing field with competitors from other nations. This is a welcome move, particularly since American expatriates were just hit with a tax hike.

The Center for Freedom and Prosperity Foundation, joined by more than 30 of the country’s largest and most influential free-market groups, urged Treasury Secretary John Snow to immediately withdrawal the Internal Revenue Service (IRS) regulation “first proposed by the Clinton Administration three days before President Bush’s first inauguration over five years ago.” The proposed rule […]

The Coalition for Tax Competition today sent a letter urging Joshua B. Bolten, the Director of the White House’s Office of Management and Budget, to “strongly consider eliminating or at least dramatically reducing funding” to the Paris-based Organization for Economic Cooperation and Development. In the letter sent to Director Bolten, representatives of more than 30 […]

If policy makers created a level playing field by making Section 911 universal, more Americans could find jobs in the global economy, U.S. companies would become more internationally competitive, and U.S. exports would substantially increase.

The Center for Freedom and Prosperity Foundation, joined by more than 40 of the country’s largest and most influential free-market groups, urged Treasury Secretary John Snow to “permanently withdraw a proposed Internal Revenue Service (IRS) regulation (Reg 133254-02) that would force U.S. banks to report deposit interest paid to nonresident aliens.” In the letter sent […]

The Center for Freedom and Prosperity Foundation, joined by more than 30 of the country’s largest and most influential free-market groups, announced opposition to U.S. subsidies for the Paris-based Organization for Economic Cooperation and Development (OECD). The organizations, which participate in a Coalition for Tax Competition, shared their views with Senator Judd Gregg of New […]

The Center for Freedom and Prosperity, joined by more than 30 of the country’s largest and most influential free-market groups, urged Treasury Secretary John Snow to “permanently” withdraw the proposed regulation to require the reporting of bank deposit interest paid to nonresident aliens (REG-133254-02). In the letter sent today to the Treasury Secretary, the members […]