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Taxes

Of developed countries, U.S. relies most on income taxes for revenue

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The more we can diversify streams of income to the government, the more we may be able to simplify the tax code in a way that is economically beneficial and that eliminates the class warfare rhetoric By John Wood Much has been made by conservatives and liberals alike of the imbalances of the tax code in the United States of America. The nature of the imbalance observed, of course, tends to differ quite dramatically from right to left, with conservatives arguing that the tax burden is placed disproportionately on higher income earners via our progressive tax code, whose wealth is ...

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The U.S. government spends more than India makes in a year

2016 budget

As the Center for Competitive Enterprise and other organizations have consistently shown, the federal government, via overregulation and overreach, has created a self-serving monster with an insatiable appetite for the wealth Americans produce If you really want to put federal outlays and expenditures into perspective, there is nothing like comparing them to, say, the entire gross domestic product of very large great-power nations. According to the latest annual snapshot of U.S. government outlays by the Competitive Enterprise Institute, if U.S. federal regulation were a country, it would be the 10th largest economy in the world, just behind Russia but ahead ...

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Small businesses to Republicans: Don’t cut corporate taxes

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Small business groups have done the bidding of big business for so long that the current conflict may be temporary Can it be that America’s small businesses are finally waking up to the fact they’re being screwed by big businesses? For years, small-business groups such as the National Federation of Independent Businesses have lined up behind big businesses lobbies. They’ve contributed to the same Republican candidates and committees favored by big business. And they’ve eagerly connected the Republican Party in Washington to its local business base. Retailers, building contractors, franchisees, wholesalers, and restaurant owners are the bedrock of local Republican ...

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U.S. tax policy punishes marriage

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Marriage is vital to the health of our society, as studies have shown, yet everywhere the institution is under attack from the Left By John Wood The institution of marriage is a vital institution, for reasons far beyond merely the happiness of the individuals involved. Marriage helps ensure social stability. It does this by facilitating the growth of healthy families. It also does this by acting as the fundamental economic unit upon which healthy families are built. Study after study has shown that married couples, (and couples who wait until marriage to begin having children), are economically far better off as ...

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We need a flat tax, not tax ‘reform’

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No one disputes that government is a necessary evil and must be funded, but the argument is to what degree any people should be taxed and the price of government they should be obligated to pay By Richard W. Clark Here is a fun tax fact known only to those who worked in the pleasure boating industry of the 90s. There was once a tax that cost more to impose than it raised. When breaking his “read my lips, no new taxes” campaign pledge, George Bush the First gave in to the Democrats and signed into law several new taxes ...

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The IRS is a complete disaster and getting worse

IRS auditor

The best way to simply the tax process for the American people and to see to it that the IRS functions as it should is to simplify the tax code By Derek Sun While the President’s approval rating sits as it long has at mediocre levels, and Congress’s approval ratings rest at sea level, there is always one government agency whose esteem with the American people still makes Washington politicians paragons of popularity by comparison, and that is the IRS. Punitive, partisan, arguably unconstitutional, the recent history of the IRS has shown itself (or at least elements within it) to ...

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Once again, taxpayers are being abused by Obama’s IRS

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A new House report cites the Internal Revenue Service for paying bonuses to managers and deferring to union activity during a time of reduced customer service at the busiest season of the year for taxpayers The hits against Americans by the Internal Revenue Service, which has been weaponized under the tutelage of the most authoritarian regime in U.S. history, continues unabated, this time with an abuse of taxpayer money that should get your blood boiling. As most of us know tax season is upon us, and despite the passage of April 15 – the annual deadline for filing last year’s ...

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