House Leadership Should Drop the BAT and Look at Tax-Reform Alternatives
I spent most of Tuesday morning watching the hearing put on by the House Ways and Means Committee on the Border-Adjustment Tax (BAT) proposal. As I mentioned Monday, the BAT proposal is the main obstacle to uniting the conservative and …
LePage’s Welfare Reform: Good for Maine, a Model for the Nation
Maine, which once led the nation in dependence on government welfare, is taking yet another step forward to fix its welfare system.
After six years of tackling tough welfare problems, Maine’s governor, Paul LePage, recently introduced a bill to …
Why the Effort to Push the Border-Adjustment Tax Further?
Efforts to continue pushing for the border-adjustment tax continue. There are many signs that the House leadership hasn’t given up on the 20 percent tax on imports — or at the very least House Republicans aren’t yet looking at a different …
Tax Reform: Don’t Forget Personal Savings
President Trump’s tax plan released last week reaffirmed his goal of slashing tax rates on businesses. The plan also proposed overhauling individual income taxes by simplifying the rate structure, increasing the standard deduction, and eliminating breaks such as the …
Don’t Eliminate Federal Arts Funding, Redirect It
Like all my museum colleagues, I support funding for the National Endowment for the Arts, the National Endowment for the Humanities, and the Institute for Museum and Library Services. Unlike many, though, I think they need to change.
I went …
Fleshing Out Trump’s Tax-Reform Proposal
President Trump’s latest tax-reform proposal gets some big things right. Our corporate tax rate is the highest in the developed world, and it reduces investment and therefore wages. He wants to bring it down. He wants to reduce marginal …
Krauthammer’s Take: Reforming Tax Deductions Would Be a Triumph
Charles Krauthammer argued that Republicans would do well to reform the tax code of its many loopholes and deductions, which benefit the wealthy:
The most important element of this is the stripping away of deductions. In 1986, that was the great …
A 15 Percent Corporate Tax Rate Would Be Great
The Trump administration has released its guidelines for major tax reform. My quick sound-bite opinion of the plan may go something like this: The president’s tax reform is more supply-side and less protectionist than I thought it would be. Also, …
Krauthammer’s Take: ‘The Whole 100-Day Thing Is Absurd’
Taking on the issue of tax reform, Charles Krauthammer argued that Trump only has to worry about getting it done in time to stimulate growth, not to meet an arbitrary 100-day deadline:
I think this is the single most important …
The Trump Administration Might Squander Its First Year
Treasury Secretary Steve Mnuchin says the initial goal of completing tax reform before the August congressional recess is no longer feasible because of the delay in getting health-care reform completed. But that’s an excuse, not an explanation. The truth …
The Ways and Means Hearing on Tax Reform Is a Missed Opportunity
The House Ways and Means Committee is having a hearing tomorrow on tax reform and U.S. competitiveness. It would be a great thing if the committee wasn’t using this opportunity to continue pushing the misguided border-adjustment tax (BAT).
In the Class War, a Flanking Maneuver
Democrats are skilled and enthusiastic class warriors, so we can expect an envy offensive as Congress turns its attention to the Trump tax proposals. We will surely hear daily about the “party of the rich” shoveling money toward millionaires and …
New York Times Columnist Smears Reagan Tax Record
The New York Times has seemingly launched a campaign against tax reform. A recent front-page story headlined “Tax Overhaul Would Aid the Wealthiest” was followed the next day with the nearly identical headline “Trump’s Plan Shifts Trillions to Wealthiest” …
An Artist’s Thoughts on Government Funding of the Arts
Editor’s Note: This piece is reprinted with permission from Acculturated.
The National Endowment for the Arts (NEA) has been constantly in the headlines since President Trump’s budget proposed slashing the agency’s funding, with much digital ink spilled …
Alas, the Mortgage-Interest Deduction Cannot Be Pried Away
Attempting comprehensive tax reform is like trying to tug many bones from the clamped jaws of many mastiffs. Every provision of the code — now approaching 4 million words — was put there to placate a clamorous faction, or to create …
Can the U.S. Afford Trump’s Tax Cut?
That’s the question that my colleague Tyler Cowen asks over at Bloomberg. His article is timely because most of the reporting on the president’s plan (or what we know of it so far) is about how “expensive” the plan is. …
Keep (Some of) the Deductions
An iron rule of politics is never to legislate in a way that implies that your side will always be in power.
As Veronique points out, there’s plenty to praise in President Trump’s tax package, but there are, …
Donald Trump’s tax plan calls for reducing the corporate-income tax to 15 percent. That’s about 15 points too high.
Mitt Romney was mocked for insisting “corporations are people,” but he was right: A corporation is a cooperation, a group of people acting …
How Tuition-Free College Education Hurts Young People
Senators Bernie Sanders and Elizabeth Warren recently proposed the College for All Act, which promises to make public universities free for most students. A similar bill just became law in New York, and support is building for tuition-free public universities …
The Supply-Side Dream Team Has a Message for Republicans: Don’t Make Tax Reform So Complicated
Writing in the New York Times Wednesday morning, the dream team of supply-side economics — Larry Kudlow, Steve Moore, Steve Forbes, and Art Laffer — have a message for Congress and the president: Don’t make tax reform so complicated that …