There was only one lane open as I made my trip to Atlanta; the other three were blocked with those unhappy yellow and black make-believe barrels used by the highway folks. Traffic flow was constrained by efforts to repair potholes and broken pavement. We in the slow lane had little choice in the matter. Instead of 70, we were slowed to 20 miles per hour. We had to accept our fate, or find another route at the next exit.
Firms respond to high tax rates and relocate economic activity to lower-tax countries. Thus, the current U.S. corporate tax structure places U.S.-headquartered corporations at a tremendous disadvantage in the global marketplace because other countries have lowered their corporate income tax rates to welcome multinational corporations. This paper discusses the economic implications of corporate taxes.
It is important to understand that Illinois’s current fiscal crisis is not the result of a single
critical event but rather a series of events in Illinois’s economic and fiscal history. This paper uncovers why Illinois's 2012 budget strategies are unlikely to work.
This working paper is a foundational piece that presents a comprehensive accounting of all known local, state, and federal excise taxes, a brief history and chronology of each, and their respective “values” relative to total tax revenues.
Fiscal Year 2011 marks Maryland's third year of recession and fifth year of structural deficits. This article highlights how Maryland started on this path of fiscal instability and what the future holds if this trajectory continues.