It doesn’t take a brain surgeon to realize our treasonous corporate tax rate is bad for business. The latest hit comes from Johnson Controls’ merger with Tyco International, with headquarters in Ireland. The other real kicker here is it that JC had plenty of your (taxpayer) help to stick around. Johnson Controls Inc. was as patriotic […]
Cato Institute’s Dan Mitchell on Trump and Bono
Originally posted August 5, 2015. What perspective do Donald Trump and Bono share? They both believe, according to Cato Institute’s Dan Mitchell, that “your income belongs in your pocket, not in the grasping hands of politicians.” Dr. Mitchell explains, “As an economist, I don’t want tax increases because the economy will be hurt and workers will […]
Goodbye Connecticut
Over the weekend a client emailed me an article about Connecticut’s Borgeson Universal Co. It produces steering components and has operated in Torrington, Connecticut since 1914. It is leaving Connecticut for South Carolina because business is no longer doable or wanted in Connecticut. Here is the article: With the Litchfield hills and Connecticut in our rear-view […]
Stephen Moore’s Case for a Complete Flat Tax
The flat tax plans of Rand Paul and Ted Cruz would eliminate the payroll tax and corporate taxes—entirely—writes Stephen Moore in NRO. Most economists would agree that their plans are consumption-based tax plans that use the proper base for taxing business output. Each candidate’s proposed flat tax plan may not be perfect, but they are […]
Taxes on Dividends
Is there any doubt taxes on dividends are too high in the U.S.? This from the Tax Foundation: Another area of the U.S. tax code that has higher rates than most of the developed world is the taxation of dividends. When a corporation distributes its profits to U.S. shareholders as dividends, the shareholders are taxed […]
Simple, Efficient and Fair Taxation
Ted Cruz has a simple tax plan that he claims will spur robust economic growth and job creation and raise after-tax income. Perhaps the best part of Mr. Cruz’s Tax Plan is that it would allow people to file their taxes on a postcard or phone app and eliminate “the rat’s nest of complex tax […]
How High are Your State’s Corporate Income Taxes?
Do you live in a bustling corporate tax paradise like Texas? Or are enduring a confiscatory nightmare like the small business owners of Washington D.C.? This map from The Tax Foundation lays out the details on where in America you can go to find the most favorable tax rates for your small business.
Taxes: The 10 Worst States for Retirees
Kiplinger has released an interactive map of the country ranking the states by their tax-friendliness to retirees. The 10 worst states for retirees are: 10) New York 9) New Jersey 8) Nebraska 7) California 6) Montana 5) Oregon 4) Minnesota 3) Rhode Island 2) Connecticut 1) Vermont See the interactive map here. Kiplinger explains the […]
Hillary’s Lip Service to Wages and Inequality
Hillary Clinton’s economic plan “to raise American incomes” unfortunately is nothing more than a “list of feel-good statements with very little specificity,” writes Richard W. Rahn in the Washington Times. Hillary has said she is in favor of tax relief for families, yet, unlike many of her Republican rivals, she has failed to provide specific […]
Our 10 Million-Word Tax Code
The Cato Institute’s Dan Mitchell provides a shocking chart from the Tax Foundation on The Federal Tax Code. You will see that the number of words in the code has exploded to over 10 million from under 4 million in the mid 1970s and just over one million back in the sensible 1950s. Dr. Mitchell […]
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