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Treasury Department Archive

Top secrecy peddler US breaks attorney-client privilege taboo, ironically paving way to address transparency needs stressed by Pandora Papers

TweetShareSharePin0 Shares This blog post contextualises the new Pandora Papers leak. It explains the need for public beneficial ownership registries, it opposes the latest opinion by the EU Data Protection Supervisor on the matter, and it shows how to use recent US case law to get the names of enabler’s clients, regardless of professional secrecy.

Pandora Papers: law firms must disclose clients’ names (like they’ve started doing in the US of all places)

TweetShareSharePin0 Shares This blog post contextualises the new Pandora Papers leak. It explains the need for public beneficial ownership registries, it opposes the latest opinion by the EU Data Protection Supervisor on the matter, and it shows how to use recent US case law to get the names of enabler’s clients, regardless of professional secrecy.

Stepping Off The Edge Of (But Still On) The Fiscal Cliff

TweetShareSharePin0 Shares Senate reaches a temporary debt limit deal. Senate Democrats appear to have accepted a proposal from Minority Leader Mitch McConnell that would allow the federal government to continue borrowing money into December. As usual, details still need to get resolved. But Republicans will no longer block a Democrats-only vote—for now. The agreement sets

Recent Changes in Top Personal Income Tax Rates in Europe, 2021

TweetShareSharePin0 Shares In 2019, revenue from personal income taxes made up 24 percent of total tax revenue across OECD countries. Countries tax labor income in various ways through payroll taxes, personal income taxes, and, in some cases, surtaxes. Between 2018 and 2021, eight European countries in the OECD changed their top personal income tax rates. Of these eight countries, four

Build Back Better Revenue Items

TweetShareSharePin0 Shares Note: The following is the testimony of Dr. William McBride, Tax Foundation Vice President of Federal Tax and Economic Policy, prepared for a Joint Economic Committee hearing on October 6, 2021, titled, “Building Back Better: Raising Revenue to Invest in Shared Prosperity.” Chairman Beyer, Ranking Member Lee, and members of the Joint Economic Committee, thank

Reconciliation Bargaining May Be Getting Serious, Recession Risk Rising…

TweetShareSharePin0 Shares Democrats may be narrowing their disagreements over budget reconciliation. President Biden pitched a social spending bill that could cost between $1.9 trillion and $2.2 trillion to a group of congressional progressives. That would be significantly lower than the $3.5 trillion version Biden first backed but more than the $1.5 trillion floated by moderate

How To Make Retirement Saving Easier For Millions Of Americans

TweetShareSharePin0 Shares Last month, a weekend of basement cleaning uncovered decades-old records of my first tax-advantaged individual retirement account (IRA) and three employer-sponsored retirement accounts I opened in my early twenties. My dad helped me open that first IRA with earnings from my high school job as a babysitter. He made saving easy for 16-year-old

A Carbon Tax is Not the Solution to Global Climate Change

TweetShareSharePin0 Shares The definition of insanity, according to a famous quotation (often mis-attributed to Albert Einstein) is “doing the same thing over and over and expecting different results.” I often think of that quote when I read yet another statement by noted economists touting a carbon tax as the solution to global climate change. Full

Which Industries Would the Tax Hikes Target?

TweetShareSharePin0 Shares A recent Tax Foundation analysis considered how various proposals from the Biden administration, from Congress, and from the Organisation for Economic Co-operation and Development would affect the effective tax rates (ETRs) on the foreign profits of U.S. multinationals. That analysis focused on how each policy and proposal would affect the overall ETRs. But
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