April 14, 2012

Some Bad News for State Finances

Steve Malanga, Public Sector Inc.

The nearly 9 percent gain in state tax collections for 2011, reported yesterday by the U.S. Census Bureau, is being greeted as evidence that the economy and the fiscal shape of states are both improving substantially. But some context is needed. As the chart below shows, despite the gain, state tax revenues remain below their  peak in 2008. That alone is sobering because costs have continued to rise, creating a mismatch between revenues and expenditures that has lasted so long it essentially has created a new...

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TAGGED: taxes


April 12, 2012
Tax Reform: Bring Foreign Earnings Home
Chamber of Commerce
As part of this series on the need for comprehensive tax reform, I want to get into a lesser-known part of the tax code: Moving from a worldwide system to a territorial system. Yes, that doesn’t sound sexy, but it's... more ››
Each year as millions of Americans race against the clock to complete their taxes by mid-April, the debate over when and how the nation’s tax code should be reformed garners renewed interest. While most agree that the... more ››
April 12, 2012
Why I Don't Care About the Buffett Rule
Derek Thompson, The Atlantic
I must begin this article with an apology. I'm an economics writer, a lover of tax policy, and a politics nerd. So this should be a second Easter for me: Right now, the most important economic debate is over the administration's... more ››
Despite promising families who make under $250,000 that he would not raise their taxes, the President has signed into law 7 new or higher taxes on them. more ››
Treasury Secretary Tim Geithner came to the House Budget Committee about a month ago and said to us: “We’re not suggesting we have a solution to the long-term fiscal problem. What we do know is, we don’t like... more ››