Showing archive for: “Tax Law & Policy”
E-cigarette taxation: Lessons from “sin taxes”
The Economist takes on “sin taxes” in a recent article, “‘Sin’ taxes—eg, on tobacco—are less efficient than they look.” The article has several lessons for policy makers eyeing taxes on e-cigarettes and other vapor products. Historically, taxes had the key purpose of raising revenues. The “best” taxes would be on goods with few substitutes (i.e., ... E-cigarette taxation: Lessons from “sin taxes”
Sharing the Wealth: Gig Economy Moves Toward a Portable Safety Net
Today, thirty-nine different companies and policy experts from a wide swath of the political spectrum signed a letter urging lawmakers to create a “portable benefits” platform that will enable sharing economy companies to continue innovating while simultaneously providing desirable social safety net benefits to workers. This is well timed, as there is a growing consensus ... Sharing the Wealth: Gig Economy Moves Toward a Portable Safety Net
More Bailout Fallout: Non-buyer’s Remorse
An interesting story in the WSJ Online today about American International Group (AIG)’s use of a standard tax write-off and the political firestorm it is creating…all because the Washington establishment thought it could hide behind semantics during the bailout era. The benefits at issue were accrued by AIG as it amassed record losses amid the ... More Bailout Fallout: Non-buyer’s Remorse
“Protecting” Consumers from the Truth About the Cost of Government
A new rule kicks in today requiring airlines to include all taxes and mandatory fees in their advertised fares. The rule, part of a broader “passengers’ bill of rights”-type regulation promulgated by the Department of Transportation, is being sold as a proconsumer mandate: It purportedly protects consumers from the sticker shock that results when they ... “Protecting” Consumers from the Truth About the Cost of Government
“The Next Big Thing Will Not Be Invented Here”
Intel Chairman and CEO Paul Otellini recently gave the keynote address at the Technology Policy Institute’s Aspen Forum on the US regulation environment and its effect of innovation and economic growth (HT: CNET, WSJ). The speech got some play in the media because of its overall depressing tone for the US, and its frank criticism ... “The Next Big Thing Will Not Be Invented Here”
To Slice or Not To Slice; a Taxing Question
Earlier this week, the WSJ reported on a nuance in the New York state tax code that has come take a bite out of at least one bagel company’s profits, and it illustrates how the complexities of arbitrary taxation schemes can rear their ugly heads and create incentives–and challenges–for consumers and sellers alike that would ... To Slice or Not To Slice; a Taxing Question
Paul Krugman spouting nonsense
In this morning’s New York Times, Professor Paul Krugman laments the state of America, and, as a remedy, proposes . . . surprise! . . . more government spending. He writes: “When we save a schoolteacher’s job, that unambiguously aids employment; when we give millionaires more money instead, there’s a good chance that most of ... Paul Krugman spouting nonsense
The Obama tax increases
The biggest and most important issue for the next few months won’t be immigration, the New Black Panthers, or even the war in Afghanistan. Huge tax increases are headed our way, and it raises tough questions. On the one hand, signaling we are serious about deficits is likely a good thing. But, since politicians haven’t ... The Obama tax increases
Expanding Insurance Coverage Is Not the Way to Reduce Health Care Costs
As his Council of Economic Advisers made clear in its recent health care report, President Obama sees two primary goals for his health care reform efforts: to slow the growth of health care costs and to expand coverage of health insurance. It’s pretty clear, though, which of these goals is steering the ship. While the ... Expanding Insurance Coverage Is Not the Way to Reduce Health Care Costs
Score One for Obama
I’ve been waiting for my old con law prof to take a political stand I could really get behind, and he finally has. Barack Obama is the only one of the presidential candidates to take a firm stand against this shamefully populist gas tax holiday. Good for you, Prof! Now, I’m not normally a big ... Score One for Obama
Zywicki on the Two-Income Trap Hypothesis
My colleague Todd Zywicki offers an empirical rebuttal to the Warren-Tyagi “Two Income Trap” hypothesis which asserts that families with two incomes end up more leveraged than families with single incomes and more susceptible to negative economic shocks than otherwise for a number of reasons, including, e.g. counterproductive bidding for housing, child care expenses, etc. ... Zywicki on the Two-Income Trap Hypothesis
Some Thoughts on Tradeable Gasoline Rights
Marty Feldstein has an interesting idea about how to reduce America’s oil consumption, but I’m not quite ready to sign on. In an op-ed in yesterday’s WSJ, Feldstein proposed a “cap and trade� system for gasoline. Under the proposed system, the government would set a limit on the amount of gasoline Americans could purchase annually ... Some Thoughts on Tradeable Gasoline Rights
