Today, a coalition of over 40 state and national conservative and tax policy organizations urging Congress to pass pro-growth tax reform before the end of the year. In a letter sent to every member of Congress, the coalition emphasized the urgent need to pass legislation that will provide tax relief for middle-class families, spur job […]
The President’s outline for tax reform sketches the broad outline for lower corporate and individual rates and for closing loopholes. This reform is vital and would be a major economic stimulus. However, the plan lacks many details that will need to be decided. Repatriation of overseas profits back into the U.S. and the “expensing” of […]
The European Union (EU) is seeking an approach on business taxes that retains more of Internet firms’ earnings as taxes for itself. The EU has been spooked by foreign Internet companies’ selection of “tax homes” with especially low rates. Ireland has been a very popular choice of US high tech firms for reporting and paying […]
Today, a coalition of 45 nonprofit organizations sent a letter to the U.S. Senate urging the repeal of Obamacare taxes. The letter is available online.
Get used to hearing “trillion” – i.e., a million millions. Two decades ago, I heard a politician lament about government spending, “a million here, a million there, pretty soon you’re talking real money.” Today, Wall Street and Washington DC are awash in discussions of financial and economic factors that need measuring with a trillion dollar […]
Despite today’s nominal unemployment rate of 4.6%, median wages rose at an annual compound rate of just 1.4% between May 2008 and May 2015. In that same period, GDP grew by a compounded rate of 3.5%, partly because the period started with in a 6% growth hole. Most workers know that they have spent almost […]
The latest bad news in consumer taxes is suitably framed against a backdrop of by terrorist and hacker disruptions and by disappointments from automobile recalls, excessive drug prices and the chronic bickering over how to increase income taxes. During 2016, governments decided again to impose higher taxes on our innocent and productive uses of wireless […]
American Consumer Institute applauds passage of the Permanent Internet Tax Freedom Act. Following the passage of H.R. 644, the Trade Facilitation and Trade Enforcement Act, which included the Permanent Internet Tax Freedom Act preventing new taxes on consumers’ Internet access, Steve Pociask, President of the American Consumer Institute for Citizen Research, issued the following statement: […]
A coalition of 45 organizations, including the American Consumer Institute, sent a letter to the leadership of the Senate urging them to pass legislation that would permanently prevent consumer taxes on Internet access services. The letter is available online.
There may soon be another source of taxes, as Congress may let the Internet’s protection lapse, chilling the next wave of Internet evolution. Internet access service was protected from taxation under the Internet Tax Freedom Act (ITFA) and its predecessors. That protection was extended until Dec 11, 2015. If Internet access is not given permanent […]