Maryland's income tax scheme is discriminatory in and of itself because it systematically imposes tax burdens on interstate economic activity that are greater than the burdens imposed on economic activity conducted solely within Maryland.
At roughly 39% (including state taxes), the U.S. corporate tax rate is the highest among developed countries. Also, the United States is one of the few countries still taxing the active foreign-source income of its corporations.
Viard discusses recent assertions that corporations are subsidized when they claim ordinary business expense deductions for payments of performance-based executive compensation.
The tax system penalizes some kinds of capital relative to others because of differences in how cost recovery is treated. There’s also a penalty on equity relative to debt, which is very important. We have good evidence from many studies over the years that the decision between the two financing methods is somewhat sensitive to the differences in tax treatment.
The Senate is set to make Finance Committee Chairman Ron Wyden’s tax-extenders legislation its top priority this month. But what is this all about, and how does it affect the average American? Alex Brill, research fellow at the American Enterprise Institute (AEI), sets us straight
Taxing e-cigarettes like their cancer-causing alternative, traditional tobacco, is absurd. The evidence to date tells us that e-cigarettes are safe when compared to conventional cigarettes.
Tax season is over for all but the greatest procrastinators among us. Two-thirds of taxpayers are celebrating their forthcoming refunds while tens of millions of others have grudgingly written a check to the IRS.
Based on fairness concerns, there’s a strong case for making the tax system more marriage neutral by shifting to individual rather than family-based taxation, and for providing increased support to low-income individuals without children.
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