Tax Policy

Other Report Authors: Edward Alden and Rebecca Strauss

The U.S. system for taxing corporate profits is outdated, ineffective at raising revenue, and creates perverse incentives for companies to shelter profits overseas. It is also, for most U.S. companies most of the time, a pretty good deal, which is one of the big reasons why any serious overhaul will be so difficult to achieve.

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To Fight Inequality, Tax Land

Author: Peter R. Orszag
Bloomberg View

In the lasting debate over Thomas Piketty’s book on outsized returns on capital, a significant fact has been obscured: If you exclude land and housing, capital has not risen as a share of the U.S. economy.

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Howard Dean and Grover Norquist on the Successes and Failures of LBJ's Great Society

Speakers: Howard Dean and Grover Norquist
Presider: Michael P. Hirsh

Former governor of Vermont, Howard Dean, and Americans for Tax Reform's Grover Norquist, join Politico's Michael P. Hirsh, to discuss President Lyndon B. Johnson’s broad social agenda, the Great Society. Fifty years after the Great Society’s inception, the panelists reflect on the agenda’s economic and social legacy and envision its future.


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Toward a Progressive Tax Policy

Author: Peter R. Orszag

To address economic inequality in the United States, Peter R. Orszag writes that a progressive consumption tax and an inheritance tax would be more practical than Thomas Piketty's wealth tax.

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How to End State Subsidies

Authors: Edward Alden and Rebecca Strauss
The New York Times

Each year, state and local governments in the United States spend more than $80 billion, or roughly 7 percent of their total budgets, on tax breaks and subsidies to attract investments from auto companies, movie producers, aircraft makers and other industries. Edward Alden and Rebecca Strauss explore the possiblity of ending such compensation.

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News Release

New CFR Scorecard Shows U.S. Corporate Tax System Keeps Foreign Profits Abroad

Nearly three decades after the last major tax overhaul, both Democratic and Republican parties and President Barack Obama agree that cutting the corporate tax rate and taxing foreign profits differently would move the tax system in the right direction. The outdated corporate tax system does not raise as much revenue as the systems of most other rich countries, even as U.S. corporate profits have reached record highs, according to a new progress report and scorecard from the Council on Foreign Relations' Renewing America initiative.

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Give People Choices, Not Edicts

Authors: Peter R. Orszag and Cass R. Sunstein

Peter Orszag and Cass Sunstein write that governments should use "nudges"—policies that harness economics and psychology to encourage certain behaviors—to deliver major benefits without imposing big costs on the public or private sector.

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Other Report

Using Oil Taxes to Improve Fiscal Reform

Authors: Daniel P. Ahn and Michael A. Levi

Taxes on oil consumption have long been a legislative third rail, yet concerns about the national debt may soon change that political calculus. Daniel Ahn and Michael Levi demonstrate that energy taxes can reduce the national debt and improve economic performance, all while reducing U.S. oil consumption.

See more in United States; Oil; Tax Policy