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Wednesday, August 6, 2014

Taxes

News                                                                                                                             
Fox Business | Treasury Weighing Actions to Stem Tax Inversions
The Obama administration said on Tuesday it was considering administrative actions to discourage U.S. companies from moving to other countries to reduce their tax bills, given the failure of Congress to address the issue.

Econ Comments & Analysis                                                                                            
Washington Times | Morici: Abusive taxes and enforcement are driving companies and citizens to leave America
The U.S. tax system is so burdensome and arbitrary that a 2013 study undertaken by a European think tank ranked it 94th out of 100, right after Zimbabwe, for its impact on business competitiveness. No wonder the U.S. economy is growing at half the pace as during the Reagan-Clinton years and creating about one-sixth the jobs.
AEI | Corporate tax is broken and needs major surgery
Policy makers and experts widely agree that current proposals to limit corporate expatriations are only a stopgap and that broader reforms are needed. President Barack Obama and Rep. David Camp, the Republican chairman of the House Ways & Means Committee, among others, have proposed cutting the corporate tax rate and eliminating tax breaks that help many firms avoid tax.

Blogs                                                                                                                             
WSJ: Real Time Economics | South Korea Targets Household-Corporate Income Gap in Tax Plan
The widening household-corporate income gap—a sign of business success not proportionately workers’ bank balances—is what the new policy is designed to address.
Cato Institute | Corporate Inversions, Tax Rates, and Tax Revenues
News outlets are running stories about the rise in corporate tax inversions. Inversions are financial reorganizations that place U.S. firms under foreign parent corporations. They are one of the many ways that companies are responding to America’s uniquely high corporate tax rate.