Abstract This paper offers a comprehensive analysis of Spain’s corporate tax system through the lens of the Laffer curve and Buoyancy index, assessing its efficiency in generating revenue. The study finds that Spain is nearing the Laffer curve’s optimal tax rate, beyond which tax revenue may decrease with rate hikes. The Buoyancy index reveals a … Read more
Unless corporations and the wealthy pay their fair share of taxes, the US will struggle to address numerous pressing challenges, including rising inequity, deteriorating national infrastructure, and the urgent demands of climate change.The 2017 Tax Cuts and Jobs Act slashed the corporate tax rate from 35% to 21%. It also gave corporations other tax breaks, … Read more
The presidential race is unpredictable, but the legislative conversation in 2025 for the eventual winner is actually already determined. Nearly all of the Trump tax cuts affecting individual filers expire at the end of that year, as well as enhanced subsidies for Affordable Care Act exchanges. As I was told back in April, the near-term … Read more
By Tyler Cowen, Bloomberg Opinion (TNS) [Editor’s note: This opinion piece was published before President Joe Biden announced he would be dropping out of the 2024 presidential race.] Donald Trump’s 2017 Tax Cuts and Jobs Act was the biggest corporate tax cut in U.S. history. How did it affect the economy? The question has taken … Read more
Puerto Rico Tax Competitiveness and Pillar Two Skip to content profit shiftingProfit shifting is when multinational companies reduce their tax burden by moving the location of their profits from high-tax countries to low-tax jurisdictions and tax havens. . Pillar Two, the global minimum taxA tax is a mandatory payment or charge collected by local, state, … Read more
Major pieces of the 2017 Tax Cuts and Jobs Act (TCJA) expire at the end of 2025, at which time taxes will increase by over $400 billion annually. While the TCJA improved the federal tax code, Congress and whoever the next president is should look to the states for ideas to make it even better. … Read more
Republicans in Congress are preparing to build upon the success of the 2017 Trump Tax Cuts by not only making President Trump’s signature legislative achievement permanent, but also cutting taxes further to spur economic growth. The Washington Post reported on Sunday that both Trump’s economic advisors and key Republican lawmakers in Congress are planning a … Read more
The Trudeau government introduced the Accelerated Investment Initiative in late 2018 to encourage corporate investment by allowing companies to expense the cost of new equipment and systems. However, the policy is set to expire by 2028, leading to an increase in effective tax rates on new investments. The Liberals are focusing on redistributionist efforts and targeted tax credits, rather than extending the sector-neutral accelerated capital-cost allowances program. This approach limits the impact on productivity-enhancing assets and may hinder overall economic growth.