In the Hunger Games franchise of movies and young-adult novels, political power is concentrated within the Capitol; citizens there revel in pageantry and pomp while their fellow Americans suffer from the dire, impoverishing consequences of the government’s policies. That same sort of sedimentation of power and money into the nation’s capital is happening in the current-day United States.
You can probably name a few things you consider evidence of decline, but there is one you are not likely to notice much. It’s the nation’s infrastructure of highways, airports, waterways and ports. It’s only dramatic declines such as the decay of Detroit, once one of the nation’s most dynamic cities that get attention because it is so blatant. We judge the backwardness of third world nations by their bad roads and lack of infrastructure to support their economies.
Jonathan Williams, American Legislative Exchange Council (ALEC) Tax and Fiscal Policy Task Force Director, joins Budget and Tax News managing editor Jesse Hathaway to debunk some common myths regarding why Americans choose to pack up and move to other states.
It’s no mystery why American companies have stockpiled over $2 trillion of overseas earnings in foreign bank accounts. If they bring it to the United States, the IRS would grab 35% of it. That’s the US corporate tax rate – the highest in the developed world, double the average in EU nations.
American companies that reincorporate abroad are not doing so to avoid paying taxes on U.S. earnings, despite the often misleading impressions left by the rantings of Senators Carl Levin, Dick Durbin, Elizabeth Warren, and others to the contrary. They are doing it to avoid paying U.S. taxes on earnings in other countries.
Cato Institute Senior Fellow in constitutional studies Ilya Shapiro recently joined Heartland Institute Research Fellow Jesse Hathaway, explaining how the Article V amendment process works, and how it might be used to enact sound fiscal policy at the national level.
Despite veritable mountains of academic evidence proving excise taxes on politically unpopular goods are unreliable revenue sources drawn from those who can least afford to have more money taken from them, city and state governments constantly flirt with such ideas. Like water rushing through a valley, such elected officials seek the path of least resistance in deciding what to tax.
Writing in The Orange County Register, the distinguished urbanologist Joel Kotkin notes that many conservatives are now “waging a war on middle-class America” through their support for trendy progressive “smart growth” policies. Such policies are the stock in trade of an urban planning movement that has been in power for about a quarter-century now, promoted by certain business interests (aka rent-seekers) in a coalition with elitist progressive politicians and upper-class and aspiring-upper-class cultural snobs.
No one in Washington is taking the lead in addressing poverty and welfare reform like House Budget Committee Chairman Paul Ryan. Almost alone, he has noted that this year marks the 50th anniversary of the War on Poverty.
One of the underappreciated aspects of the current debate over corporate tax inversions is how it represents not just an opportunity for some progressive populism, but is just another aspect of the same view which motivates the left’s general disgust with Uber and other members of the sharing economy.
It is an old adage that there are lies, damn lies and then there are statistics. Nowhere is this truer that in the government’s monthly Consumer Price Index (CPI) that tracks the prices for a selected “basket” of goods to determine changes in people’s cost-of-living and, therefore, the degree of price inflation in the American economy.
One-hundred-twenty fellow lovers of liberty signed up to attend an evening with Steve Forbes and Elizabeth Ames at the historic Union League Club in Chicago on Wednesday, August 13, for a special edition of The Heartland Institute’s Author Series to hear Forbes and Ames discuss their new book, “Money: How the Destruction of the Dollar Threatens the Global Economy, and What We Can Do About It.”
For more than a decade, now, Federal Reserve policy has been guided by the fear of one economic bogyman: the presumed danger of “price deflation.” The fear is unfounded and the inflationary “solution” only leads to disaster.
Since the Internet itself has no one “location,” it would be difficult to create a simple set of tax rules for items bought and sold. Rather than make it complex and add to the mix of confusing tax policies that already dominate American life, we should continue to shop and sell unabridged from government interference.
Every year, countless employees across the country pay union dues without knowing about their right to opt out partially or completely. National Employee Freedom Week lets them know it’s possible and provides them with the understanding of how it’s done.
Gov. Pat Quinn’s “millionaire tax” question, the most recent nonbinding vote added to the bloated November ballot, is not only a misguided effort to draw his base to the polls with blatant class warfare but incredibly poor public policy. Like all “soak the rich” tax schemes, the imposition of increased taxes on high-income earners will discourage new capital and entrepreneurs from entering the state.