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    Avoiding a Debt Crisis, Eh? Lessons From Canada

    Congressional lawmakers met last week to try to hammer out a deal to avert the fiscal cliff. Democrats insist on revenue increases as part of such a deal, saying new revenue is the only way to significantly reduce the national debt. However, it is not a lack of revenue that … More

    What Are Economists Really Saying About Tax Rate Increases?

    On Friday, Representative Pete Sessions (R–TX) and House Speaker John Boehner (R–OH) ran afoul of Glenn Kessler’s “Fact Checker” blog regarding a study of President Obama’s proposed tax increase. Before deciding on a tax change, policymakers are wise to look at the economic impacts of the change. Two Studies In … More

    Morning Bell: Beware the Taxmageddon

    Brace yourself. In a mere 271 days, you and your fellow Americans will be hit with a tax hike the likes of which this country has never seen. The Washington Post aptly called the unprecedented $494 billion tax hike “Taxmageddon,” and Federal Reserve Chairman Ben Bernanke described it as a “massive fiscal … More

    Chart of the Week: Top 1 Percent Paid 38 Percent of Federal Income Taxes

    President Obama used his State of the Union address Tuesday to outline his idea of fairness. To put it simply, that means redistributing wealth by raising taxes on the most successful Americans. “If you make more than $1 million a year, you should not pay less than 30 percent in … More

    Chart of the Week: Where Does the Federal Government Get Its Revenue?

    President Obama and Republicans in Congress continue to wage war over an extension of the payroll tax cut. But missing from the debate is any discussion of comprehensive tax reform that would eliminate payroll taxes altogether. Social Security and Medicare payroll taxes are the second-largest source of federal revenue, surpassed … More

    WaPo Fails Tax Policy 101

    There are many reasons tax reform remains a distant dream. Not “tax reform” disguising a tax hike as the Obama Administration envisions, but tax reform that would make U.S. companies and workers world-class competitors, ferret out tax cheats, and make paying taxes a little less onerous to taxpayers. Perhaps the … More

    LeBron's Taxing Decision

    What would it take to lure basketball star LeBron James away from his hometown Cleveland Cavaliers to sign a contract with the Miami Heat? Believe it or not, taxes might have something to do with it, and that’s an important message for all levels of government. In Florida, James’ new … More

    Government Dependency Grows As "Non-paying" Taxpayers Hits Record Level

    The Tax Foundation recently released its annual report on the number of tax returns filed that have no tax liability, and the study shows a record number of “nonpayers” in 2008. Taxpayers become “non-payers” when credits and deductions wipe out any income tax they owe. According to the Tax Foundation … More

    Outside the Beltway: New Yorkers' Tax Blues Are Driving Them Out

    While Frank Sinatra wanted to wake up in a city that doesn’t sleep, today’s New Yorkers are looking to live in states where taxes aren’t so steep. New York, whose state and local taxes are among the highest in the nation, is bleeding residents due in large part to the … More