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Tax Foundation Tax Watch, Fall 2011

Tax Foundation Tax Watch, Fall 2011

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Published by hansen7335
taxes, tax policy, economics, Tax Foundation, fiscal policy
taxes, tax policy, economics, Tax Foundation, fiscal policy

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Published by: hansen7335 on Nov 01, 2011
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11/01/2011

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What Do CorporationsReally Pay in Income Tax?
Tax Foundation Economist William McBrideDiscusses the Corporate Tax Burden ata Capitol Hill Briefng
GUEST COLUMNIST:
Setr Jh Thue (R-S.D.) 
“Fundamental Tax Reform is the Key to Economic Prosperity” 
Fall 2011
 
ii
 
TAX
Watch
 
 
Fall 2011
STAFF
Scot Hodge
Presiden
Carer DeWit
Vice Presiden, Developmen
Scot Drenkard
Analys
Liz Dunlap
Developmen Associae
Alicia Hansen
Edior and Analys
 Joseph Henchman
Vice Presiden,Legal and Sae Projecs
Nick Kasprak
Programmer and Analys
Laura Lieberman
Law Clerk, Summer 2011
David Logan
Economis
Will McBride
Economis
Richard Morrison
Manager o Communicaions
Mark Robyn
Economis
Michael Vogler
Manager, Governmen Aairs& Corporae Developmen
FAll 2011 InTernS
 JiaQi Baoenzing sering
Tax Watch (ISSN 1552-924X) is publishedour times per year by the Tax Foundation inWashington, D.C., a nonproft, nonpartisanresearch organiation that has monitoredtax policy at the ederal, state and locallevels since 1937.The Tax Foundation is a 501(c)(3) nonproftorganiation that relies on tax-deductiblecontributions or support.Please send correspondence to: AliciaHansen, Editor at Tax Watch, National PressBuilding, 529 14th Street, N.W., Suite420, Washington, D.C. 20045.Visit us on the web at www.taxoundation.orgor call (202) 464-6200.©2011 Tax Foundation
What Does It Mean to Have a“Fair” Tax Code?
W
e are proud o the act that we have been advocating the same principles o sound tax policy or the past 74 years. We believe that taxes should be neutralto economic decision making; they should be simple, transparent, and stable;and they should promote economic growth.“But shouldn’t taxes be air too?” I was asked recently.Hmm, well, that’s a trickier one. You see, “air-ness” tends to be in the eye o the beholder.Billionaire Warren Buett believes it’s unair thathe pays 15 percent on his vast capital gains and divi-dend income while his secretary pays the normal in-come tax rate on her salary. I guess it hasn’t occurredto Buett that taxing corporate income twice – onceas prots and a second time as dividends – is unair.President Obama, like many liberals, believes thatthe tax code should be used to correct income inequal-ity. To them, a air tax code is one that has progres-sively high tax rates on upper-income taxpayers andredistributes income to the poor through tax credits.But now that 51 percent o American householdspay no ederal income taxes, is it air that they enjoy the benets o government but pay nothing or itscosts? And is it air that millions o those nonpayersstill get a cash reund check rom the IRS in the ormo a “reundable tax credit”?Speaking o air share, taxpayers making over$200,000 now pay 50 percent (hal) o all incometaxes even though they earn 26 percent o all income.In other words, their share o the tax burden is twicetheir share o the nation’s income. Is that air? The fat tax will x all this, argues our riend SteveMoore in a recent
Wall Street Journal
editorial titled “Flat is the New Fair.” He quotesDick Armey as saying that Obama’s mantra that “billionaires should pay the same taxrate as janitors” may be the catalyst to sweeping tax reorm.I hope Armey is right.Over the next 12 months, let’s work together to make tax reorm a dening issue inthe presidential election and a top legislative issue in 2013.Sincerely,
Scott A. Hodge
President 
Message rom the President
“Now that51 percento Americanhouseholds payno ederal incometaxes, is it airthat they enjoythe benefts o government butpay nothing orits costs?”
 
 
Fall 2011
 
 
TAX
Watch
 
1
|
Center or Federal
|
Fiscal Policy
2
Wha Do U.S. CorporaionsReally Pay in axes?
3
American Jobs Ac Unlikelyo Produce Many Jobs
 
ax Foundaion Presidenesies on Pro-Growhax Reorm
4
Warren Buet’s ProposalsHide elling ruhs
5
axes – Te Cure-All or Deciand Deb Reducion?
 
Capiol Hill Brieng on Repariaion
Te rillion Dollar Question 
6
10 Reasons America Needs aModern Corporae ax Sysem
|
Center or State
 
|
Fiscal Policy
7
Landmark Corporae Sudy:How Does Your Sae Comparewih Your Neighbors?
 
ax Foundaion: Your Sourceor Fac Checking
8
Local Income axes on he Wane
9
2012 Sae Business ax ClimaeIndex Coming Soon
 
New Repor Explains Complexiieso Unemploymen Insurance axes
10
ax Foundaion Repor HelpsTwar Proposed MinnesoaIncome ax Increase
 
ennessee and Arizona Lead heCounry in Sales ax Raes
Fall 2011
11
On he Road: Speaking oSae-Based Groups and esiyingBeore Sae Legislaures
|
Center or
|
Legal Reorm
12
Paid a Cancelled ax? You ShouldGe a Reund!
 
Limi on Sae ax OverreachingPasses Key Congressional Commitee
13
Te Batle Rages On:Caliornia vs. Amazon.com
|
Highlights
14
Mee JiaQi Bao and enzingsering, Our Fall Inerns
 
Corporae ax Reorm Key Issueor Economic Growh
|
Tax Foundation
|
In the News
15
Websie rac: Unique Visiorsper Monh
16
By he Numbers
 
ax Policy Podcas Highligh
|
Guest Columnist
17
Senaor John Tune (R-S.D.)
Fundamental ax Reform Is the Key to Economic Prosperity 
The Tx Foundtion is n independent, nonprtisn nd nonprot reserch institutionounded in 1937 to educte txpyers, poicymkers nd the courts on sound txpoicy. Our economic nd poicy nysis is guided by undment tx principestht shoud serve s touchstones or sound tx poicy everywhere.
IN THIS ISSUE
5
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