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Trump’s Tactic Is Certain to Create “Regime Uncertainty” »

President-elect Donald Trump’s so-called Carrier deal, which seems to amount to a threatening conversation he had with Carrier’s managers, combined with some tax concessions by the state of Indiana, exemplifies the approach he has more or less announced he will take in dealing with U.S. companies that propose to move operations abroad. He threatens...
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Tax Reform for Investment Income »

Executive Summary The unexpected election of an at least nominally Republican president, along with Republican control of both Houses of Congress, presents a unique opportunity for the incoming Congress to make meaningful reforms to the tax system. One major problem has been the over-taxation of corporate income. Another is the under-taxation of carried interest....
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Whether You Know It or Not, You Are a Tax Slave »

In the antebellum South, it was not uncommon for slaves to rent themselves from their masters. As a young man, Frederick Douglass did so, for example. His owner gave him leave to go out on his own, to find employment where he could, and to pocket the pay he received for such work, except...
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Why Michael Bloomberg’s Pro-Soda-Tax Ad Is Misleading »

Former New York City Mayor Michael Bloomberg is helping to bankroll a television-commercial campaign in favor of proposed soda taxes in Oakland and San Francisco, known as Measure HH and Proposition V, respectively, which will appear on each city’s November ballot. You can’t miss the commercial if you live in the Bay Area, as...
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Hillary Clinton’s Exit Tax »

In the Cold War era, Eastern bloc countries prevented their citizens from leaving. The Berlin Wall was the most iconic symbol of the Eastern bloc’s no exit policy. Hillary Clinton’s proposed exit tax “on the untaxed overseas earnings of multinational companies that leave the U.S.” falls short of being a Berlin Wall for U.S....
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Trump’s Talk: Aspirations, Not Policies »

Donald Trump’s acceptance speech at the Republican National Convention was a list of aspirations, without any explanation of the policies he had in mind to meet those goals. That’s not surprising, because that is the nature of political campaign rhetoric. Politicians rarely say what they plan to do. Rather, they talk about perceived problems...
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What Bible School Taught Me About Taxes »

One of my first lessons in economics and politics came from an unlikely place—vacation Bible school. I must have been about six or seven. For a week, I went to church to learn with other children my age about our faith and the Church. Throughout the week we had the opportunity to earn stickers....
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Warren Buffet’s Non Sequitur on Taxes »

Here’s an article about Warren Buffet’s well-known view that the rich should pay more in taxes. His bottom-line argument is, “If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.” I don’t disagree. My disagreement with Buffet is the implication that being...
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Tax Freedom Day 2016 »

According to the Tax Foundation, “Tax Freedom Day” this year falls on April 24th—six days after 2015’s personal income tax returns were due (on the 18th if you forgot to file). April 24 marks the day on which the average American will have earned enough income to pay his or her total local, state...
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Big Government Creates Political Polarization »

We’ve heard it said that politics is more polarized today than in the past. If that’s true (and I’m not sure it is), big government is likely to blame. I recently noted that politics creates conflict. Bigger government creates more conflict. Smaller government tends to focus on activities that meet with widespread agreement. Most...
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