Econ Comments & Analysis
CNN Money | More companies bail on U.S. for lower taxes
A new analysis found 47 companies have relocated to home bases overseas to take advantage of lower rates in the past 10 years through a merger process known as inversion.
Washington Times | The end of the progressive income tax
Press reports now state that the U.S. tax code is more than 77,000 pages and growing at a rapid rate. Obviously, no one individual or even teams of lawyers and accountants can fully understand all of this, including people at the Internal Revenue Service (IRS).
Mercatus | Low-Income Taxpayers Benefit Least from Mortgage Deduction
One of the most commonly cited justifications for the mortgage interest deduction (MID) is the claim that the deduction promotes homeownership among the middle class and supports industries that employ middle-class workers. But with 65.2 percent of all tax filers claiming to make less than $50,000, only 9.8 percent of these returns used the mortgage interest deduction.
CRS | Bonus Depreciation: Economic and Budgetary Issues
The Tax Extenders Act of 2013 (S. 1859), which would extend expiring tax provisions for a year, includes bonus depreciation and H.R. 4718 proposes to make bonus depreciation permanent. The temporary provisions enacted in the past for only a year or two and extended multiple times are generally referred to collectively as the "extenders."
Blogs
Library of Economics | Why no Kansas miracle?
The past two years Kansas reduced its state income tax rates. As a result, the top rate of income tax faced by Kansas residents (combined state and federal) rose from 41.45% in 2012 to 48.3% in 2013 and then fell a tad to 48.2% in 2014 (if they don't itemize.) That's a pretty tiny drop in the top marginal tax rate in 2014, and a much bigger rise in 2013.
