Authors: Grover Norquist and Andrea Louise Campbell
Andrea Campbell tips her hand partway through her essay "America the Undertaxed" (September/October 2012) when she writes that "the central debate in U.S. politics is whether to keep taxes, particularly federal taxes, at their current levels in the long term or emulate other advanced nations and raise them."
Executing policy through tax breaks and other indirect measures encourages Americans to think that they do not rely on the government for help, even when they do. The result is a distorted public discourse and an erosion of democratic legitimacy.
As the White House releases the 2013 budget, corporate taxation could be an issue where Congress can find compromise in fiscal policy. Both parties agree the current corporate tax regime is inefficient and often disadvantages U.S. businesses globally.
President-Elect Donald J. Trump has vowed corporate tax reform in 2017, but Congress is deeply divided over the details, including how to reduce rates and subsidies, and whether to tax profits made abroad.
Outsourcing remains a contentious political issue as lawmakers, analysts, and business leaders debate its effect on U.S. job creation and the role of corporate tax policy in shipping jobs overseas, explains this Backgrounder.
Leaked documents have revealed that international tax havens play a larger role than previously understood, and will likely raise pressure for more transparency in global finance, says CFR expert Edward Alden.
The most recent PricewaterhouseCoopers tax rate study shows that we have undergone a period of significant growth, followed by a sudden economic downturn, and currently, a slow but inconsistent recovery.
Maintaining the president's higher spending levels will require raising taxes for all Americans, including an 11 percent increase on those earning less than $200,000, writes Glenn Hubbard, economic adviser to Mitt Romney.
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