Digital services taxes generate limited tax revenue, increase complexity and compliance costs, negatively impact innovation and competitiveness, risk escalating trade disputes, and are often passed on to consumers.
Our latest testimony: https://t.co/3vDHgiJpe8 @crisberechet
When designing tax systems, policymakers should focus on doing the basic things well and avoid harmful policies that could stunt growth.
Read more: https://t.co/miKQY9R4w9
CBO says President Trump's tariffs will pass almost entirely through (95%) to the US economy and on to American consumers. The tariffs affect 61% of US imports and will:
-reduce investment
-reduce employment
-lower efficiency
-lower the level of GDP
In New York, @ZohranKMamdani has proposed increasing the state corporate income tax to fund his NYC spending plans. Under his proposal, the state and city would tax corporate income apportioned to NYC at a higher rate than the federal government.
In this year's International Tax Competitiveness Index, France's rank fell from 36th to 38th, placing it last.
France added a temporary surtax on corporate income for companies with high revenues, lifting its top marginal corporate rate from 25.8 to 36.1 percent, the highest rate in the OECD.
As Oktoberfest celebrations wrap up across the continent, now is a great time to examine beer taxes in the European Union. Hefty beer taxes add to the price of every drink consumed.
Read more: https://t.co/m3ECXPaeyg
Governments often justify higher tax burdens with more extensive public services. However, the cost of these services can be more than half of an average worker’s salary.
Read more: https://t.co/Xb25qgCAoC @TFEuropeTax
Developed countries raise tax revenue through individual income taxes, corporate income taxes, social insurance taxes, taxes on goods and services, and property taxes—the combination of which determines how distortionary or neutral a tax system is.
https://t.co/u76pIm6Ar4
Looking for a summary of the tax changes in the one big beautiful bill? Me too! So @GS_Watson put one together for us all in the form of FAQs (link below).
Our analysis finds that the Trump tariffs threaten to offset much of the benefits of the new "Big Beautiful Bill" tax cuts, while falling short of paying for them.
This is the most unexpected pro-growth measure in the bill, from the perspective of the years leading up to this moment when structures investment was largely left out of the tax debate. Not perfect, should be much broader and permanent, but it’s a start.
Zohran Mamdani's proposed NYC income tax increase contains a tax cliff: anyone earning $1 million pays an additional 2% on their *entire* income, not the share above $1 million. By earning one additional dollar, a high earner incurs an additional $20,000 in city taxes.