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Proposed Offset for Medical Device Tax Can’t Offset Anything — It’s a Timing Gimmick

October 3, 2013

Update, October 11:  We’ve updated this post.

House Republicans have demanded, as part of their price for allowing the government to reopen, that policymakers repeal health reform’s...

The Trickle-Down Economics of Tax Cuts for Multinationals’ Foreign Profits

June 19, 2013

Representative Jim McDermott (D-WA) asked a witness at a Ways and Means hearing last week how the United States would benefit if policymakers cut taxes on U.S. multinational corporations’ overseas profits to encourage them to bring the profits to the U.S.

The witness — Paul Oosterhuis, an international...

Hearing Highlights Problems Posed By Tax Havens

June 13, 2013

Today’s House Ways and Means hearing examined multinational companies’ use of tax havens and profit shifting — among other strategies — to minimize the corporate income taxes that they pay to the United States.  As we’ve explained,...

Starbucks’ UK Tax Dodge Highlights Flaws of Territorial Taxation

June 6, 2013

U.S.-based multinational corporations that are lobbying Congress to adopt a “territorial” tax system, which would cut their taxes on foreign profits to zero or a very low rate, often note that many other developed countries have such systems.  But those countries are a warning, not a model, as a great new analysis by...

Companies’ Proposals Won’t Fix the Broken Corporate Income Tax System

May 31, 2013

The New York Times’ latest “Room for Debate” feature asks how the U.S. government can get its fair share of revenue from multinational corporations while allowing them to stay competitive.  There are stellar contributions from...

Neither Territorial Taxation Nor a Corporate Tax Holiday Is a Good Idea

May 28, 2013

A recent New York Times editorial about corporate tax avoidance panned two proposals — a “territorial” tax system and a tax repatriation holiday — that some U.S.-based...

Three Reasons Why Killing the Corporate Income Tax Is a Terrible Idea

May 24, 2013

Bloomberg’s Evan Soltas suggests eliminating the corporate income tax.  It’s a terrible idea that would:

  • Create a huge incentive for individuals to shelter income by setting up a company to sell their services tax-free. For example, a chef at a restaurant
  • ...

Distribution Estimates Critical to Tax Reform Efforts

May 16, 2013

Rep. Kevin Brady, who chairs the Joint Economic Committee, argued in the Wall Street Journal recently that the distribution estimates which the Joint Committee on Taxation (JCT) and the Tax Policy Center (TPC) produce on how tax proposals would affect different income groups have “serious limitations.”  Brady essentially implied such estimates should be downplayed or ignored in...

What You Need to Know About International Tax Reform Options

May 9, 2013

The Senate Finance Committee will release the fifth of its tax reform option papers later today, this one on international taxation, Tax Notes reports.  Here’s why that’s important.

Among its options the committee will likely list is a move toward a “territorial” tax...

New Study from Treasury Analysts Highlights Risk of Corporate Tax Reform Trap

May 7, 2013

We explained recently that corporate tax reform could become a trap if policymakers start by setting a tax rate so low that they have trouble scaling back deductions and other preferences enough to offset the costs.  If so, that reform not only could fail the...

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