April 22nd, 2021
The vast majority of Covid-19 recovery funds have gone to big corporations instead of toward welfare, small firms, or those working in the informal economy, according to the first major analysis of public bailout funds disbursed in developing countries during the pandemic.
February 23rd, 2012
In The President’s Framework for Business Tax Reform, which the White House released earlier this week, President Obama advocates lowering the U.S. corporate tax rate to 28 percent. This move is not surprising. Last month, President Obama brought up a basic minimum corporate tax in his State of the Union address.
But the tax cut is not alone. Alongside this cut, Obama advocates cutting corporate tax loopholes. This element is not to be overlooked. There are far too many corporate tax loopholes—which are deductions, credits, and other tax expenditures that benefit certain activities—and they often result in very different marginal...
January 20th, 2012
As you probably are already aware, it seems Mitt Romney can’t make up his mind on a lot of issues. He has been able to make his mind on one thing, though—quite clearly and quite decisively, mind you. That one thing is that Mitt Romney doesn’t like paying taxes.
After much several months hemming, hawing, and waffling on the issue, Mitt finally bowed to mounting pressure on Monday to release his tax returns. But Mitt isn’t going to keep us waiting in suspense he finally decides to hand over his returns. While talking to reporters, he gave us a sneak...
October 27th, 2011
Today, the House Subcommittee on Financial Institutions and Consumer Credit held a hearing on a proposed IRS regulation which would allow the IRS to track the deposits of non-resident aliens in the United States. The United States functions as a tax haven for many non-resident aliens, as the IRS is unable to determine how much money is hidden in US banks. The IRS is seeking the regulation as part of a global effort to increase tax information exchange, and eventually collect revenue from more US tax evaders. Video is available here.
Here's how it all works. The IRS collects information...