Taxes (page 9)

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    “God forbid if the rich leave”

    New York has received the “greatest revenue shock in recent years,” Gov. Andrew Cuomo announced earlier this week. Cuomo said income taxes will be $2.3 billion lower than expected when he introduced a $178 billion budget last month. “That’s as serious as a heart attack. This is worse than…
    Joseph Coletti, February 7, 2019
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    “Physics and economics are two sides of the same coin”

    “Hierarchy is not imposed, it is natural,” Duke professor Adrian Bejan told J. Peder Zane in a recent interview. “Equality, however, is artificial, because it violates the law of evolution in nature.” Bejan comes to this conclusion because “physics and economics are two sides of the same coin,” and…
    Joseph Coletti, February 6, 2019
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    Do people really want to soak the rich?

    Ramesh Ponnuru of National Review Online questions reporting about new poll results on taxation. Ben White writes in Politico that “when it comes to soaking the rich, the American public is increasingly on board.” After citing two polls in which supermajorities of the public favor higher taxes on…
    Mitch Kokai, February 6, 2019
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    Worries warranted over Warren’s wealth tax

    Peter Suderman explains for Reason’s “Hit and Run” blog that U.S. Sen. Elizabeth Warren’s proposed wealth tax has a long and undistinguished history. The plan, released … as the Massachusetts senator launched her bid for the Democratic Party’s 2020 presidential nomination, would impose a 2 percent annual tax…
    Mitch Kokai, February 4, 2019
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    This weekend on Carolina Journal Radio

    North Carolina has added Opportunity Scholarship vouchers, disability grants, and education savings accounts to its school choice program in recent years. Terry Stoops analyzes each of these choices during the next edition of Carolina Journal Radio. Joseph Coletti discusses a recent scandal involving local sales taxes in…
    Mitch Kokai, February 1, 2019
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    Tax cuts, innovation, and economic growth

    Paul Romer won the Nobel prize in economics for showing how innovation creates economic growth. A new working paper from Raj Chetty and his colleagues presents a model of how much innovation results from tax cuts. Their model suggests tax changes “have no impact on the decisions of star inventors,…
    Joseph Coletti, January 31, 2019
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    New Carolina Journal Online features

    Dan Way reports for Carolina Journal Online on state Senate leaders’ pay-as-you-go alternative to a statewide school construction bond. The Daily Journal explains how U.S. Rep. Alexandria Ocasio-Cortez’s proposal for higher marginal tax rates fails to account for major federal tax code changes.
    Mitch Kokai, January 31, 2019
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    Economic growth and…

    “Economic growth, while necessary, is insufficient to address many of the challenges of our 21st-century economy,” Abby McCloskey writes in National Affairs. She offers some policy suggestions to improve connections in community, make work pay, and reform entitlements to improve government finances. I don’t endorse all of them, but…
    Joseph Coletti, January 29, 2019