Lawmakers have a tendency to fix problems by treating the symptoms rather than the causes. That’s what happened yesterday with the White House’s response to the recent wave of corporate inversions, the practice of acquiring a foreign company and then relocating one’s legal headquarters out of the U.S for tax purposes. The reason for inverting is obvious to most economists: U.S. companies […]
For many Americans, today’s Tax Day thoughts will likely center on how much of a year’s earnings must be surrendered to Uncle Sam to fund the federal government. But another concern is why we lose so much income and so many jobs because our tax system is so badly designed. For our elected officials, Tax […]