Archive for the ‘taxes’ Category

SGR Down. Corporate Tax Reform Next?


By John Feehery

John Boehner.jpg

“John Boehner” by Gage Skidmore – Flickr: John Boehner. Licensed under CC BY-SA 2.0 via Wikimedia Commons.

(This originally appeared in the Wall Street Journal’s Think Tank)

If Congress can solve a problem like Medicare’s “doc fix,” lawmakers should be able to address a corporate tax rate that kills economic growth and moves jobs overseas.

Medicare’s “Sustainable Growth Rate” mechanism was part of the Balanced Budget Act of 1997. The idea was to tie the set rate at which Medicare doctors are compensated to economic growth. But health-care costs grew faster than the economy, and to avoid a physician exodus that could threaten the program, every year Congress would pass a temporary “doc fix” adding to the amount paid to the doctors.

Fixing the SGR gives peace of mind to doctors that they can continue to participate in Medicare. It’s good policy and good politics. (more…)

Corporate Taxes Are Too Damn High


By John Feehery

Jimmy McMillan Blue 3 2011 Shankbone.jpg

“Jimmy McMillan Blue 3 2011 Shankbone” by David Shankbone – Own work. Licensed under CC BY 3.0 via Wikimedia Commons.

Our corporate tax rate reminds me of New York political figure Jimmy McMillan.

He famously founded the “Rent is Too Damn High” party and ran for Mayor on the platform that his rent was, well, too damn high.

I feel the same way about America’s corporate tax rate. (more…)

Tax Reform and Ireland


By John Feehery

Flag of Ireland.svg

“Flag of Ireland” by Drawn by User:SKopp. Licensed under Public Domain via Wikimedia Commons.

I had lunch yesterday with several friends who work closely with the government of Ireland, and the subject turned to the coming elections over there.

Like in the UK, you never quite know when the Election Day will be called, as setting that date is one of the benefits of being in the Majority.

In any event, the smart money has it that the ruling party, Fine Gael, will call the election sometime in 2016, but not too close to the 100 year anniversary of the Easter Rising.

Like all the governments, Fine Gael is most likely to spend more money to stimulate economic growth the closer it gets to the actual election. (more…)

Obama Backtracks From Plan to Tax ’529′ College Savings Accounts


By John Feehery

USA-The George Washington University.JPG

“USA-The George Washington University” by Ingfbruno – Own work. Licensed under CC BY-SA 3.0 via Wikimedia Commons.

(This originally appeared in the Wall Street Journal’s Think Tank)

The quick demise of the White House plan to tax college savings accounts, also known as 529 plans, underscores what a flawed idea it was.

By proposing a tax on these tax-free accounts, ostensibly because the accounts disproportionately help higher-income people, the president effectively proposed making college more expensive for middle-class parents.

Consider: Rich people have no problem paying for college. (more…)

The Common Thread Between the Soda Tax and the Yoga Tax


By John Feehery

Soft drink shelf.JPG

“Soft drink shelf” by Original uploader was SMC at en.wikipedia – Originally from en.wikipedia; description page is/was here.. Licensed under Public domain via Wikimedia Commons.

On one side of the country, in the People’s Republic of Berkley, the city council there is trying to raise taxes on soda pop.

On the other side of the country, in the People’s Republic of Washington D.C., the City Council raised taxes on people doing Yoga.

So what is the common thread linking the Soda tax and the Yoga tax? (more…)


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