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When politicians can’t see their own loopholes
According to a 2008 IRS report, the Federal Tax Code “has grown so long that it has become challenging even to figure out how long it is.” A search of the Code conducted in the course of preparing this...
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The battle of the taxes
In my last post, I discussed several exciting tax reforms that are gaining support in a handful of states. In an effort to improve the competitiveness and economic growth of these states, the plans...
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States Aim to Eliminate Corporate and Individual Income Taxes
Although the prospects of fundamental tax reform on the federal level continue to look bleak, the sprigs of beneficial tax proposals in states across the US are beginning to grow and gain political...
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The Home Mortgage Interest Deduction: A Bad Deal for Taxpayers
A new policy brief released by the Mercatus Center and co-authored by Jeremy Horpedahl and Harrison Searles analyzes one of the most popular—and therefore one of the most difficult to reform—subsidies...
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To Raise Taxes or to Close Loopholes?
Imagine for a moment that you are interested in lowering your nation’s debt-to-GDP ratio. Let’s assume you are determined to ignore the experience of other nations and you are dead-set on lowering your...
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The Bush Tax Cuts
This episode should have advocates of limited government asking themselves an important question: are tax cuts without spending cuts good for the cause of limited government? Decades ago, Milton...
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Don’t like the fiscal cliff? You’ll hate the fiscal future.
Absent an eleventh-hour deal—which may yet be possible—the Federal government will cut spending and raise taxes in the New Year. In a town that famously can’t agree on anything, nearly everyone seems...
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Maryland’s budget troubles continue into the New Year
Each year a committee made up of Maryland state legislators gets together to set a spending growth limit for Maryland’s general fund budget. The Spending Affordability Committee (SAC) has been in place...
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Eileen Norcross on News Channel 8 Capital Insider discussing Virginia and the...
Last week I appeared on NewsChannel 8′s Capital Insider to discuss how the fiscal cliff affects Virginia. There are several potential effects depending on what the final package looks like. Let’s...
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States Look to Rainy Day Funds to Avoid Future Crises
For the past nine quarters, state revenue collections have been increasing and are now approaching 2008 levels after adjusting for inflation. Many state policymakers are no longer facing the...
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The Real Public Choice Economics of Big Bird
In an informative post last week, Matt Yglesias pointed out that the few hundred million dollars a year that go to the Corporation for Public Broadcasting are in many ways the “least important” of Big...
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Do Taxes Affect Economic Growth?
The CRS has a new report by Thomas Hungerford that has attracted some attention. It seems to suggest that taxes do not affect economic growth. To be precise, it seems to suggest that the top marginal...
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Giving Illinois local governments control over their workers’ pensions
The Chicago Tribune makes a “modest proposal” this week. Discouraged by the inaction of the Illinois General Assembly on state-wide pension reform, the editorial board supports the idea that costs for...
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The Problem with States’ Rights
This week, Eileen Norcross hosted a fiscal federalism symposium, bringing together scholars of various disciplines to discuss some of the challenges that our system of federalism faces today. Part of...
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Taxing People to Advocate for Taxing People
Back in April I blogged on a CDC program that seemed to be using taxpayer dollars to fund lobbying for more taxes. In his column this week, George Will picks up on the same program and offers a few...
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Strategy and politics in the of phrasing of bond referendum
How detailed should bond referendum be? The Arlington County Board heard comments from the public on the FY 2013 capital spending plan a few weeks ago. At issue was $153 million in local GO bond...
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