by Dan Mitchell | Jun 9, 2022 | Big Government, Blogs, Taxation
Based on research from the Congressional Budget Office, I’ve shared estimates of the potential economic damage from the fiscal plan Joe Biden unveiled last year. But now he has a new budget. So what if we simply focus on the tax portion of...
by Dan Mitchell | Jun 4, 2022 | Blogs, States, Tax Competition, Taxation
I’ve already shared the “feel-good story” for 2022, so today I’m going to share this year’s feel-good map. Courtesy of the Tax Foundation, here are the states that have lowered personal income tax rates and/or corporate income tax rates in 2021 and 2022....
by Dan Mitchell | Apr 7, 2022 | Blogs, Tax Competition, Taxation
I wrote a few days ago about Biden’s plan to impose punitive double taxation on dividends. But that’s not an outlier in his budget. As you can see from this table from the Tax Foundation, he wants to violate the principles of...
by Dan Mitchell | Apr 5, 2022 | Blogs, Taxation
Modern tax systems tend to have three major deviations from good fiscal policy. High marginal tax rates on productive behavior like work and entrepreneurship.Multiple layers of taxation on income that is saved and invested.Distortionary...
by Dan Mitchell | Mar 31, 2022 | Blogs, Taxation
How do we know people don’t like taxes? They tend to reject candidates who support higher taxes, as George H.W. Bush and other politicians have learned.Then tend to vote against higher taxes when given an opportunity (though...
