Debating Tax Reform

Bret Wincup photo

At TechElect, we love substantive policy debates, and Alan Beattie’s piece in today’s Financial Times on the presidential candidates’ approaches to corporate tax reform tax reform certainly fits the bill.  TechElect has already compared the candidates’ competing tax plans, and we applaud the FT’s deep dive into both presidential candidates’ positions on tax reform.
 
TechElect finds much to agree on in the article.  Beattie is right to point out that Washington has failed to keep up with the changes that America’s global economic competitors have enacted in their tax structures – changes that are specifically designed to boost investment and accelerate job creation in those nations.  In our globalized world, the U.S. lags behind other major economies with our highest-in-the-world corporate tax rate.  But little progress has been made to fix it, or to adopt a competitive territorial system that would match countries like the U.K., Canada, and Japan that all have made the switch successfully.
 
Read the article here and let us know what side of the debate you come down on.
 

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4 comments
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  • Saamaariia Thu., May 30, 11:16 PM
    Of course, any state that does not have an incmoe tax is not going to tax your pension. In addition, there are states that tax wages but no pensions, such as Pennsylvania, and states that do not tax certain pensions, such as your federal pension.Louisiana, for example, has an incmoe tax, taxes pensions, but waives state incmoe tax on certain pensions, including your federal pension. There are 10 states that do not tax federal pensions:AlabamaHawaiiIllinoisKansasLouisianaMassachusettsMichiganMississippiNew YorkPennsylvania
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