Americans are a hard-working bunch and should keep what they earn. Our ideas for tax reform reduce the burden of taxes while ensuring governments have the resources to focus on core responsibilities.
Now that April 15th has passed, we’re left with the reminder of how aggravating and expensive paying the income tax can be. For many of us, it’s not a joyous memory.
These days, many supporters of limited government seem concerned that the public isn’t with them on issues like the role of government in society. It’s hard to deny it’s true on some level or on some issues.
This week the Washington Times ran a story on one of the remaining legal challenges to the federal health care law – a challenge brought under the Constitution’s Origination Clause to the “tax” the law created. Recently, I spoke at the Cato Institute about another ongoing challenge to the law – the Goldwater Institute’s challenge to the Independent Payment Advisory Board (IPAB), a panel of 15 unelected bureaucrats created by the federal law to reduce Medicare costs.
In Arizona’s tax code today there is a hidden, automatic tax hike that is based on something you, and even the state legislators and members of Congress who write the tax code, have no direct influence over: inflation.
Governor Bobby Jindal of Louisiana has just added his name to the ranks of governors who have proposed eliminating their state’s income tax. The first play of this interstate tax competition was made by Governor Mary Fallin of Oklahoma who proposed eliminating her state’s income tax last year. Fallin, unfortunately, was not able to make that happen last year but has vowed to try again. This year, Jindal hopes to beat Oklahoma to the punch. Based on the successful legislative record Jindal has had to date, he just might be able to.
Entrepreneurs are the lifeblood of innovation in our modern economy. They create opportunities for themselves and jobs for others.
The table below compares Arizona to its neighbor states on ten indicators of economic strength. Three of the rankings assess economic freedom, three assess the state’s business climate, three assess the state’s tax climate and one examines the cost of living.
I’m a relative new-comer to Arizona, having lived here only five years. But I’ve traveled the length and breadth of the state, visiting more places than most native Arizonans have ever visited, if my personal sampling is any indication. Considering that, the degree to which Arizonans believe tourism is an economic powerhouse and worthy of government support is striking.