Business Taxes Archive

TweetShareSharePin0 Shares The Senate-passed Inflation Reduction Act (IRA) calls for a new 1 percent excise tax on stock buybacks, the argument being it would be better for the economy if firms invested their surplus cash in the business, rather than returning this value to shareholders. However, research suggests that buybacks do not hinder investment opportunities,

TweetShareSharePin0 Shares Over the last few years, concerns have been raised that the existing international tax system does not properly capture the digitalization of the economy. Under current international tax rules, multinationals generally pay corporate income tax where production occurs rather than where consumers or, specifically for the digital sector, users are located. However, some

TweetShareSharePin0 Shares In the rush to pass the Inflation Reduction Act, which features an ill-conceived tax on the book income of U.S. corporations, it is worth reminding policymakers of a well-established finding in the economic literature: that among all the major ways to raise revenue, increasing the corporate tax is the most economically destructive due

TweetShareSharePin0 Shares Preliminary Revenue and Economic Estimates Net Revenue Long-run GDP Wages FTE Jobs Source: Tax Foundation General Equilibrium Model, July 2022. Last-week’s Democrat-sponsored Inflation Reduction Act (IRA), successor to the House-passed Build Back Better Act of late 2021, has been touted by President Biden to, among other things, help reduce the country’s crippling inflation.

TweetShareSharePin0 Shares As the reality of a second quarter of negative economic growth settles in Washington, the Congressional Budget Office (CBO) released its own sobering report on the government’s long-term finances. The CBO long-term budget outlook report shows widening deficits over the next three decades as both federal spending and tax revenues are expected to

TweetShareSharePin0 Shares The Conservative Party in the United Kingdom is in the process of determining its new leader as Prime Minister Boris Johnson exits the stage. The new Conservative Party leader will be the next UK Prime Minister. The process has narrowed the field to two candidates: former Chancellor of the Exchequer Rishi Sunak and Foreign

TweetShareSharePin0 Shares Efforts to raise taxes on corporations and high-income earners recently hit a brick wall when U.S. Senator Joe Manchin (D-WV) once again expressed concerns about inflation and a potential recession. That would seem to be the end of the story, as there is no reason to think inflation will be going away anytime