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Corporate Inversions: Obama Fiddles While the Corporate Tax Burns U.S. Competitiveness

The United States has what is arguably the worst business tax system of any nation. That’s bad for the shareholders who own companies, and it’s also bad for workers and consumers. And it creates such a competitive disadvantage that many U.S.-domiciled companies are better off if they engage in an “inversion” and shift their corporate […]

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Grading the Rubio-Lee Tax Reform Plan

In my 2012 primer on fundamental tax reform, I explained that the three biggest warts in the current system. 1. High tax rates that penalize productive behavior. 2. Pervasive double taxation that discourages saving and investment. 3. Corrupt loopholes and cronyism that bribe people to make less productive choices. These problems all need to be […]

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America’s Anti-Competitive and Anti-Comity International Tax System, Part II

Last September, I wrote that America’s business tax system is a nightmare that simultaneously undermines the competitiveness of American companies while also causing lots of irritation in other nations. Both of those bad things happen because politicians in Washington think the IRS should be able to tax income that is earned (and already subject to […]

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America’s Anti-Competitive and Anti-Comity International Tax System, Part I

Most of us will never be directly impacted by the international provisions of the internal revenue code. That’s bad news because it presumably means we don’t have a lot of money, but it’s good news because IRS policies regarding “foreign-source income” are a poisonous combination of complexity, harshness, and bullying (which is why only taxpayers […]

Continue reading America’s Anti-Competitive and Anti-Comity International Tax System, Part I

America’s Anti-Competitive and Anti-Comity International Tax System, Part I

Most of us will never be directly impacted by the international provisions of the internal revenue code. That’s bad news because it presumably means we don’t have a lot of money, but it’s good news because IRS policies regarding “foreign-source income” are a poisonous combination of complexity, harshness, and bullying (which is why only taxpayers […]

Continue reading America’s Anti-Competitive and Anti-Comity International Tax System, Part I

Embarrassment Alert: America’s Tax System Ranks Below Italy, Greece, and Mexico

I’ve complained over and over again that America’s tax code is a nightmare that undermines competitiveness and retards growth. Our aggregate fiscal burden may not be as high as it is for many of our foreign competitors, but high tax rates and poor design mean the system is very punitive on a per-dollar-raised basis. For […]

Continue reading Embarrassment Alert: America’s Tax System Ranks Below Italy, Greece, and Mexico