Econ Comments & Analysis
Market Watch | Taxing carried interest discourages investment
President Obama’s proposal to tax certain returns on investments, known as “carried interest,” as ordinary income would raise taxes on some investment partnerships. It would bring in $14 billion over 10 years to Uncle Sam, but its disincentive effects on investment could be far greater.
Mercatus | The Deduction of State and Local Taxes from Federal Income Taxes
Taxpayers who itemize their deductions are allowed to deduct state and local taxes from their federal taxable income. This deduction is limited to either income or sales taxes, but not both.
