U.S. Ranks Near The Bottom For Tax Competitiveness: We’re #32!

Today, the Tax Foundation released its 2014 International Tax Competitiveness Index (ITCI). The ITCI measures the competitiveness of tax systems in the 34 countries in the the Organisation for Economic Cooperation and Development (OECD) based on criteria in five categories: corporate income taxes, individual taxes, consumption taxes, property taxes, and the treatment of foreign earnings. … Read more

Which State Pays Most In Gas Taxes?

Former GM exec Bob Lutz acknowledged that Americans wouldn’t embrace an increase to the federal gas tax – and he was right. There was a lot of reaction to my piece yesterday on Lutz’ recommendation that the federal gas tax be raised in 25 cent increments until gas prices reached $6 or $7 per gallon … Read more

Comparing Lists: Did Residents Flee States Because Of Taxes?

We’re #1! We’re #1! Oh, New Jersey]. I got a kick out of seeing many of my friends in social media posting about New Jersey’s most recent “honor”: Forbes recently reported that the state was tops in terms of exits. No, not those kind of exits that Springsteen and Bon Jovi refer to… But exits … Read more

Romney’s ‘Number’ Is 13.9: What’s Yours?

What’s your number? You know, your tax rate for federal income tax purposes? I know, you’re thinking 20%, 30%, maybe even 35%. Far higher than Mitt Romney, right? You probably pay much less than you think. Most people think of their marginal tax rates when you ask them what they pay in tax. A marginal … Read more

Gingrich, Perry Float ‘Simple’ Tax Proposals

In recent days, both front-runner Newt Gingrich and Texas Governor Rick Perry have touted their respective “optional flat tax” plans as an easy solution to a complicated tax system. Under both plans, taxpayers would have the option of filing under the existing Tax Code or filing with a flat tax rate (Perry has suggested 20% … Read more

Supreme Court Asked To Answer What’s ‘Fair’ When It Comes To Taxpayers

The Supreme Court has granted certiorari in the case of Armour, et al., v. Indianapolis, et al (docket 11-161). That’s a lawyerly way of saying that the Supreme Court will hear the matter. Some cases have what’s called “original jurisdiction” in the Supreme Court but most do not. To be heard at the Supreme Court … Read more

Fix the Tax Code Friday: Bailing Out the Government

It’s Fix the Tax Code Friday! Remember that study that I cited from the Tax Foundation earlier in the week? That same report offered another statistic. In 2007, the cost of balancing the budget would have cost each taxpayer an additional $1,789 in taxes. This year, due to “the bailouts and the Troubled Asset Relief … Read more