In a recent appearance before a congressional committee, EPA Administrator Gina McCarthy told them that the agency’s proposed sweeping carbon-regulation plan was “really an investment opportunity. This is not about pollution control.” If the plan isn’t about pollution, the primary reason for the EPA’s existence, why bother with yet more regulation of something that is not a pollutant—carbon dioxide—despite the Supreme Court’s idiotic decision that it is. Yes, even the Court gets things wrong.
America is supposed to be the land of the free, yet it is has one of the most vicious tax regimes in the rich world. Once blessed with comparatively low tax rates and levels of regulation, businesses and entrepreneurs flocked to the United States from the sclerotic systems of Europe (and elsewhere). Now American businesses are fleeing America’s shores and foreign-born entrepreneurs are less inclined to come at all.
The subject of tax inversion, in which American firms avail of lower tax rates in foreign countries by merging companies in those countries, has become very topical in the last couple weeks thanks to a decision by Abbvie, a drug company, to merger with Shire, an Ireland-based firm and move its headquarters overseas. One of at least 47 tax inversions in the last decade, the Abbvie-Shire deal is the largest such action yet, worth $54 billion. Perhaps unsurprisingly, President Obama and Democrats in Congress have become apoplectic with rage at the audacity of a business making a prudent decision to escape bloodsucking taxes.
Chicago faces a significant, and growing public pension problem. According to the Chicago Sun Times, Chicago’s four pension plans (including for teachers and public safety workers) face a combined debt[...]
This morning the House Judiciary Committee will undertake the markup of the Permanent Internet Tax Freedom Act. The Act would protect consumers from the increased costs in accessing and using the Internet by permanently extending the moratorium on Internet access taxes, and would prevent multiple and discriminatory taxation of Internet sales.
There’s an interesting phenomenon playing out in both New Jersey and Ohio: Two of the country’s most prominent conservative Republican governors have proposed new taxes of a sort that haven’t appealed even to traditionally liberal, tax-hungry state legislatures in states like Massachusetts and Washington.
It is often truly astonishing to me the harm done by the way the federal government was expanded well beyond its constitutional limits during the 1930’s New Deal era. One[...]
The benefits of government-funded university research are not shared widely enough in society, with universities retaining full ownership, for the most part, of their academic work. This means they get to profit from the government-funded research, and rarely have to share it with the taxpayers. By mandating that the research it spends so much taxpayer money on enter the public sphere, the government can more effectively spread the benefits of its own largesse and do its duty to all its citizens to provide them with the full benefit of what it produces with their tax money.
Legislators in Harrisburg are considering a proposal from state Sen. Daylin Leach, D-Wayne, that would make Pennsylvania the first state to impose a statewide tax on the use of plastic bags.
Barack Obama is finishing his fifth year as president, and continues to try to move America further in the direction of increased government paternalism with the implementation of ObamaCare, a push for a higher minimum wage, more intrusive business regulation, a drive for higher taxes to redistribute wealth, and a persistent insistence that individuals must sacrifice their own interests for that of “society.”
Illinois may have only one opportunity to get pension reform right, and this proposal is not it. More than likely, this proposal will set back the true fundamental pension reform that is required to protect taxpayers from further tax hikes, give public employees more job flexibility, and put Illinois on a sustainable fiscal path.
A new study released by the Small Business Administration funded with taxpayer money examines the effects of Internet sales taxes on small businesses. The study has drawn swift criticism from[...]