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Thursday, April 11, 2013

Taxes

News                                                                                                                             
CNN Money | Obama calls for cigarette tax hike of 94 cents a pack
President's Obama's call for a 94-cent-a-pack hike on federal cigarette taxes to fund early childhood education programs is controversial.
Market Watch | Lew: White House open to individual tax reform
The White House is open to working with House Republicans on an overhaul of the individual tax code, Treasury Secretary Jacob Lew said Thursday.
CNN Money | Tax dodgers will have a tougher time in Luxembourg
Europe's last bastions of banking secrecy are crumbling, as governments come under pressure to do more to tackle tax evasion.

Econ Comments & Analysis                                                                                            
Bloomberg | For $168 Billion, We Should Get a Better Return
Everyone complains about the complexity of the tax code. The Internal Revenue Service’s taxpayer advocate cites it as the No. 1 problem. Politicians seem to agree that the road to tax simplification goes through lower rates and a broader base. Yet all that consensus has yielded precious little progress.
Fortune | Debunking today's carried interest tax arguments
President Obama today unveiled his federal budget proposal, which included a change to how private equity fund managers are taxed on investment profits (i.e., carried interest).
AEI | Overhauling the tax code: The devil is in the transition
Tax reform continues to move forward like a freight train, slowly picking up speed on a long journey to the president's desk. Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ways and Means Committee Chairman Dave Camp (R-Mich.) have forged an admirable working relationship, and they have publicly committed to doing something incredibly difficult in Washington: create winners and losers in tax policy.